Busan is good

Strengthening ties with Germany

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The Busan-Jinhae Free Economic Zone Authority signed a memorandum of understanding with the Korean-German Chamber of Commerce and Industry, or KGCCI, at the Seoul Ritz-Carlton Hotel on Aug. 27. It also hosted an investment presentation for companies that are KGCCI members.

At the event, over 100 German companies with operations in Korea - including BMW, Siemens, BEHR Group, Deutsche Bank Korea and Hapag-Lloyd - participated.

The Busan-Jinhae Free Economic Zone Authority requested investment from German companies in the western part of the city, which is becoming the center of distribution and is Korea’s industrial powerhouse in the shipping, automobile and machinery industries.

The authority highlighted the 462,846-square-meter Mieum and Nammun complexes that have been designated as the country’s primary machinery parts industrial site.

As of now, more than 24 companies from Germany, the United States, France, Poland and Japan have promised to invest a total of $200 million at the complex, which will provide a huge boost to Busan as it looks to foster international business in the city.

The source of news : Dynamic Busan