Busan is good

FDI in Busan grew 12% last year

Contents

It is reported that with the construction of the first foreign enterprise exclusive complex in Busan, which businesses had left every year due to the lack of industrial lots, investments soared led by those in the manufacturing industry last year.

According to Busan Metropolitan City, the total number of foreign investments in Busan last year stood at 95, worth US$342 million 890 thousand.

Although the number fell by 7 compared with 102 investments worth US$300 million and 500 thousand in 2005, the amount grew by US$42.38 million (12.4%).

In particular, investments in the manufacturing industry grew 2.5 times to 28 investments worth US$295.87 million last year from 26 investments worth US$84.58 million in 2005.

Foreign investments in Busan were just 73 amounting to US$77.68 million in 2003, but it has been growing since then to 82, US$28.32 million in 2004 and 102, US$300.50 in 2005.

[Source: The Seoul Shinmun (February 20, 2007)]