Busan Jinhae Free Economic Zone Authority discusses investment promotion cooperation with Beijing

[Financial News] The Busan Jinhae Free Economic Zone Authority said on the 6th that it held talks with the Beijing Investment Promotion Center in Shanghai, China, on the 5th, discussing ways to identify demand from Chinese companies seeking to enter the Korean market and cooperate on attracting investment.
The Beijing Investment Promotion Service Center is a specialized investment promotion agency directly affiliated with the Beijing Municipal People’s Government. It is responsible for building domestic and international investment promotion networks, connecting investment projects, and supporting companies and investors.
During the talks, the Authority introduced the investment environment and major development projects in the port logistics and advanced manufacturing sectors of the Busan-Jinhae Free Economic Zone. It also discussed ways to identify companies interested in entering Korea through the Beijing investment promotion agencies’ local business networks and connect them with follow-up investment consultations.
In January this year, the Authority discussed economic and trade cooperation with the Consulate General of China in Busan. Then, in March, with the cooperation of the Shenzhen Municipal Commerce Bureau and the Industrial and Commercial Bank of China, it held an overseas investment promotion briefing and presented the investment environment to local companies, financial institution representatives and others.
In June, it signed memorandums of understanding with the Qidong Economic Development Zone Management Committee in Jiangsu Province, China, and the Beijing Youth International Culture and Arts Association, laying the groundwork for investment cooperation. That same month, it also held a meeting with the Shanghai Korean Chamber of Commerce and the South Gyeongsang Province Shanghai Office to identify potential investment demand, including the return to Korea of Korean companies operating in China, expansion investments, and the relocation of logistics hubs.
Through these talks, the Authority expanded to Beijing its investment promotion activities in China, which this year had extended across Shenzhen, Jiangsu Province and Shanghai.
Park Sung-ho, head of the Authority, said, “This year, we have steadily broadened the foundation for investment promotion cooperation by pursuing investment briefings and memorandums of understanding in China. With this exchange as an opportunity, we will step up efforts to identify promising local companies and hold follow-up investment consultations, working to translate them into tangible investment results.”


[email protected] Kwon Byeong-seok Reporter