Busan is good

Busan-Jinhae Free Economic Zone invites U.S. investors

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The Busan-Jinhae Free Economic Zone Authority is putting spurs to its overseas promotion by attracting U.S. investors to the high-tech industrial park slated to be built in Busan next year.

 

Following an investment seminar held in Los Angeles on Friday, the free economic zone authority plans to sign a memorandum of understanding with an aluminum wheel maker AMT and a natural gas vehicle parts maker NGVI.

 

AMT, located near Los Angeles, is expected to pour $50 million in its business in Busan, create 200 new jobs to generate annual sales of $60 million, according to the Busan-Jinhae Free Economic Zone Authority. Florida-based NGVI, which produces industrial engines and automotive parts for natural gas vehicles, plans to invest $2.5 million to see annual sales of 30 billion won, the Authority said.

 

The investment promotion team dispatched to the United States also plans to promote the development project for the new international town of Myungji to attract foreign investment.

 

The investment promotion team also scheduled to visit medical centers, educational institutions and real estate developers in New York to attract them to the free economic zone in southeastern Korea.

 

The source of news : The Korea Herald  By Kim So-hyun  2005.09.26