Chinese companies and tourists flock to Busan en masse
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Pictured above are Busan Mayor Suh Byung-soo (left) and Beijing Mayor Wang Anshun discussing the direction of cooperation.China’s cash and tourists are descending upon Busan in their droves.
This is the outcome of the city’s efforts to create a corporate-friendly environment, securing industrial complexes, luring Chinese capital and expanding its customized tourism infrastructure.
Busan Mayor Suh Byung-soo successfully wrapped up his five-day economic visit to China from Nov. 24-29.
During the trip, he visited Beijing, Xi’an and Shanghai, with an itinerary that included the conclusion of an MOU (memorandum of understanding) on cooperation in the movie and visual industry and hosting investment relations and medical tourism seminars.
Busan City inked an MOU worth $20 million with HD Valve, one of the largest Chinese companies in the shipbuilding parts market.
Under the pact, Busan, its native company Chingu and Chinese company HD Valve will establish a new corporation to build production facilities in the foreign investment area in Mieum, Gangseo-gu (district), to produce valve spindles.
HD Valve specializes in producing valve spindles, which are a core component of ship engines.
For the first time as a local government, Busan City aims to create a Korea-China movie fund.
Busan City concluded an MOU with Wanda Group from Beijing, China, regarding “mutual cooperation and development of movie and visual industry.”
Both sides will also team up on the soon-to-be created Tsingtao Film Festival.
The source of news: Dynamic Busan
