Busan Jinhae Free Economic Zone Authority expands Korea-EU green partnership

[Financial News] The Busan Jinhae Free Economic Zone Authority said on the 3rd that it had attended the “Korea-EU Green Industry Initiative Business Roundtable and Networking Reception,” held on the 2nd at the Lavalse Hotel in Yeongdo District, Busan, and had moved to expand its green industry partnership with the European Union (EU) and strengthen economic cooperation.
The roundtable was attended by Ugo Astuto, the EU ambassador to Korea; ambassadors to Korea from 18 EU member states; Philip Van Hoof, president of the European Chamber of Commerce in Korea; and other prominent figures from domestic and international industry.
Participants shared best practices and experience in maritime affairs and shipbuilding, clean energy, and advanced industries, and discussed ways to expand cooperation between Korean and European industries and identify new business opportunities.
The Korea-EU Green Industry Initiative (GII) is a cooperation platform promoted by the Delegation of the European Union to the Republic of Korea and co-organized by the European Chamber of Commerce in Korea, the Korea Enterprises Federation, and the EU-Korea Green Partnership Programme. It fosters cooperation among Korean and EU policymakers, industry, and experts, and supports industry-led decarbonization and a sustainable industrial transition.
That day, Park Sung-ho, head of the authority, discussed with guests and in meetings ways to cooperate on port logistics centered on Busan New Port, Jinhae New Port, and Gadeokdo New Airport, as well as ways to expand cooperation in eco-friendly industries.
Park said, “This event is a meaningful occasion for Korean and European industries to share their experiences of the green transition and explore new opportunities for cooperation,” adding, “We will continue to engage with major European institutions and companies and broaden the scope of our cooperation into high-value-added industries, including port logistics and eco-friendly energy.”
As of 2024, 217 foreign-invested companies were located in the Busan-Jinhae Free Economic Zone. Some 50 of them, including Renault, Bosch Rexroth, and Wilo Pumps, are European companies that contribute to the development of local industries. 
[email protected] Kwon Byeong-seok Reporter