Busan is good

BJFEZ‘s Jisa Foreign Investment Zone attracts HATLAPA's 2nd Korean plant

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○ On April 17^th, 2009, Busan-Jinhae Free Economic Zone(BJFEZ) Authority Commissioner Moon-hee Kim and Hatlapa of Germany signed an MOU (Memorandum of Understanding) at the BJFEZA office.  Details of the MOU call for the establishment of a U$ 3,520,000 plant, Hatlapa’s 2^nd in Korea, in the Jisa Foreign Investment Zone.  Of the total U$ 3,520,000, FDI amounts to $3 million of the total investment.  The synergy effect of this deal means technology transfer of deck machinery production for development of a model designed for the Korean market.

 

○ HATLAPA, a Uetersen based German company established in 1922, specializes in manufacturing equipment and materials for shipbuilding ranging from deck machinery, steering gear to air compressors.

 

○ HATLAPA’s U$3 million investment in the Jisa Foreign Investment Zone located within the BJFEZ is for the construction of their 2^nd plant in Korea.  Foreign Investment Zones are areas within the FEZ dedicated specifically to foreign invested companies.  HATLAPA Korea, a joint venture set up in 2006 with Dongsung Trading Co, is a premier company producing steering gear to shipbuilding giants including Samsung Heavy & Industry Co., Ltd. and Hyundai Heavy Industry Co., Ltd.

 

○ For further information, please contact the head of Investment Relations Department I, Steve Tang at 82-051-979-5450.