“We will make the Busan Jinhae Free Economic Zone a global business center by attracting foreign companies to invest in tweezers.”
Park Sung-ho, head of the Busan Jinhae Free Economic Zone, who will mark his 100th day in office on the 10th, said in a recent interview with Maeil Business Newspaper, “As the development rate of the Busan Jinhae Free Economic Zone has already reached 98.7%, a detailed ‘pinset investment attraction strategy’ is essential to attract high-tech industries.”
Director Park said, “We are targeting Middle Eastern capital such as Saudi Arabia and the United Arab Emirates (UAE), away from the existing Asian region such as the U.S., Europe, and Japan. As DP World, a world-class port operator, is located in the free economic zone, we will use it to strengthen our economic network with the Middle East.”
Since taking office on January 1, Commissioner Park has been making tangible results by promoting various innovation policies with the aim of “realizing the world’s best business and logistics center.” Typical achievements include business innovation through reorganization, diversification of overseas investment attraction channels, close communication with tenant companies, normalization of the Ungdong District 1 development project, which was considered a challenge, and expansion of cooperation with global companies.
In particular, Commissioner Park attracted 90 billion won in investment from foreign companies in just three months this year. Representatively, Naigai Busan Logistics Center drew an increase of 26 billion won and Mitsui Soko Korea 48.2 billion won. It also signed a memorandum of understanding on investment worth 14 billion won with Kokusai Express.
“We plan to focus on attracting investment in four key strategic industries, including complex logistics transportation, smart transport aircraft, advanced small manager, and bio healthcare,” Director Park said. “We will work with global companies to draw a blueprint for the future of the Busan Jinhae Free Economic Zone.”
He also emphasized the expansion of the Busan Jinhae Free Economic Zone. “The need to secure additional land is constantly being raised due to the development of Gadeok New Airport and Jinhae New Port,” Director Park said. “The expansion of free economic zones is essential to create new growth engines for Korea and realize balanced regional development.”
During his tenure, he will lay the foundation stone for the 100 years of the Busan Jinhae Free Economic Zone, Commissioner Park said. “Although there are many difficulties due to insufficient manpower and budget, we will do our best to make the most of the benefits and potential of the free economic zone.”
[Changwon Choi Seungkyun]
