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Busan Signs MOU with Schaefer Yachts, World’s Third Largest Yacht Manufacturer on Feb. 7

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On February 7, 2015, in Florianópolis, Brazil, the City of Busan signed an MOU with Estaleiro Schaefer Yachts Ltda., a global yacht manufacturing company, securing a USD $5.2 million investment for a 10,101 ㎡ area in the Mieum Components and Materials Complex foreign investment zone.

 

Signing on behalf of Busan Mayor Suh Byung-soo was Cho Don-young, Special Advisor on Investment Policy, who along with Marcio Luz Schaefer, President of Schaefer concluded the MOU.

 

Schaefer Yachts is a global Brazilian yacht-manufacturing company that produces over 200 yachts annually and has sold more than 3,000 yachts around the world. As the top yacht-manufacturing company in Brazil, Schaefer ranks third in the world for manufacturing small-size (less than 40 feet) to mega-sized (80 feet) yachts.    

 

According to the MOU, Schaefer Yachts will establish a new corporation entitled “Schaefer Asia” in Busan and build a yacht manufacturing facility in the Mieum Components and Materials Complex foreign investment zone in Gangseo-gu, Busan.

 

President Marcio Luz Schaefer attended an investment briefing in Busan last October and visited Haeundae, North Port, Yeongdo, Gangseo Mieum Industrial Complex and become attracted to the idea of investing in Busan.   

 

Although Schaefer currently plans to focus on producing middle to small-sized yachts in Gangseo-gu, it has further plans to expand its operations during the 2^nd phase of the North Port development project. This expansion will include an additional investment to build a facility capable of producing larger sized yachts.

 

In attracting such global companies as Estaleiro Schaefer Yachts to Busan, the city expects an increase in the creation of high quality jobs as well as many spinoff opportunities for local companies.