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Busan · Singapore Complete MOU

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On the 20th at the Singapore Seraton Tower Hotel, Busan and the Busan-Jinhae Economic Free Zone have concluded a Memorandum of Agreement (MOU) to support the Singapore International Business Office and the entry of Singapore companies into domestic economic free zone. Busan mayor, Hur Nam-sik, and the head of economic free zone, Jang Su-man, were present at the meeting. The MOU is expected to promote business to attract foreign capital.

Busan and the economic free zone are taking steps to attract Singapore businesses to the zone by offering to subsidize office rents by 50% for their first two years, providing administrative support and information about business opportunities and introducing Korean companies as potential business partners.

The Singapore International Business Office will provide specific business plans including investment amounts within six months and dispatch investment representatives to Busan on a regular basis. They are in charge of publicizing Busan and economic free zone in Singapore and searching for Singapore business partners for Busan companies.

 

The source of news : Busanilbo, Tuesday 9 21, 2004, 11:27