Busan is good

Brisk investment by foreign firms into Busan New Port Logistic Complex sees creation of 2,000 jobs

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Investment in the Busan New Port Logistics Complex by foreign firms seems to be brisk. According to Busan Port Authority (BPA), it has been calculated that by late September, 74 foreign firms had invested 9.01 billion won in the Busan New Port Logistics Complex since 2010. These firms created 2.705 million TEU of freight volumes and 1,959 new jobs. Among the 74 firms, 32 Japanese firms invested 4.69 billion won, accounting for 42% of foreign capital at the Busan New Port Logistics Complex.

 

The BPA signed a memorandum of understanding (MOU) with a Japanese firm, Naigai Trans Lines, for the attraction of investment to the Complex. Naigai Trans Lines is a medium-sized international logistics service firm located in Osaka, Japan which achieved revenues of 1.6 billion won last year. It decided to make a 7 billion won investment in the Busan New Port Logistics Complex to establish a logistics center, in order to reduce high inland transportation fees and inventory charges in Japan and secure its stock from earthquakes.