Busan-Jinhae FEZ gains more foreign investment

By Kim Rahn

Ha Myeng-keun Busan FEZ commissioner

The Busan-Jinhae Free Economic Zone Authority is pushing forward with its goal to develop the southeastern area of the country into an international business district.

With the ninth anniversary of its opening on March 30, the authority has formed a high value-added industry cluster in the region by attracting $1.5 billion from 88 foreign investors.

“We plan to expand investment from emerging countries such as China and India, as well as encourage domestic and foreign firms to set up their branches here,” Ha Myeng-keun, a commissioner of the authority, said.

Besides the industrial complex, the zone will have a residential and leisure complex where foreign schools, golf ranges and other entertainment facilities will be set up. Roads and railways have also been built for the convenience of residents and businesspeople there.

“Due to its best transportation network with ports, roads, railways and Gimhae airport, the zone will become the center of the Northeast Asian economy,” Ha said.