The Busan-Jinhae Free Economic Zone (hereinafter, BJFEZ) is strategically located at the heart of Northeast Asia and at the same time, the center of Korea's southeastern industrial belt.
The BJFEZ is a specially designated area to attract foreign businesses and multinational companies. The BJFEZ is the global hub for international businesses and logistics. Since the BJFEZ is situated along the European and North American trunk routes that have the largest traffic volume among the global shipping routes, it is logistically very competitive and it also
retains the possibility to function as the connection point for the European Continental and Pacific Rim destinations.
The BJFEZ covers 83.1km2 with an anticipated population of 243,000 by 2020. This zone is divided into five areas and 21 districts - New Port, Myeongji International City, High-tech & Manufacturing Area (Jisa), Mechatronics Education Research Development Area (Dudong) and Tourism & Leisure Area(Ungdong) - which will be fully developed by the year 2020.
In particular, investment in the high-tech industry has been prominent, which is attributed to the progress made in the development of Mieum and Nammoon districts as the area designated as a ¡°Foreign Investment Zone.¡±
In addition, the government is proactively researching options to offer incentives to domestic companies, as well as providing institutional support for parts & materialsand high-tech industries, ultimately helping more companies make inroads to BJFEZ.
Furthermore, concerning BJFEZ¡¯s core business - Myeongji International City and Ungdong Resort district - BJFEZ has focused on expanding infrastructure and a better living environment by way of promoting advanced foreign educational
institutions and foreign hospitals.
Particularly in the Ungdong area, which is designed as a world-class tourism & leisure complex, construction will begin of a 36-hole golf course. World-class hotels, marinas and resorts will enhance Ungdong¡¯s reputation as an international tourism & leisure complex.
At the same time, promoting the target marketing toward global logistics companies, BJFEZwas successful in attracting companies in the ports and logistics sector.
With such impressive industrial competitive edge and pleasant living environment to be enjoyed by the expatriate executives and their families, the BJFEZ will provide superior assistance and services for foreign investors.
We are dedicated to providing competitive incentives and customized administrative services for foreign businesses.
BJFEZ looks forward to your support and interest in investing and living in Busan.
• Busan-Jinhae Free Economic Zone Authority
Address: Noksan-saneop 16-gil, Gangseo-gu, Busan, Korea
Tel:(82-51) 979-5000/(82-55) 320-5000 Fax:(82-51) 979-5029/5039
E-mail: godshin76@korea.kr
Website: www.bjfez.go.kr
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