Why Foreign-Invested Companies Came Together for the First Time in 22 Years... Busan-Jinhae FEZ Authority Holds First Networking Event with 100+ Attendees

Foreign-invested company representatives from Busan and Gyeongsangnam-do gather to discuss investment and cooperation

Seven honored for contributions to investment; new investment opportunities presented

For the first time in 22 years, the Busan-Jinhae Free Economic Zone hosted an official networking event for foreign-invested companies. The event provided a forum for tenant companies to share their investment experiences and strategies for responding to changes in the global trade environment.

The Busan-Jinhae Free Economic Zone Authority (Commissioner Park Seongho) said it held the 1st BJFEZ Foreign-Invested Companies Day at Shilla Stay Seobusan on the 11th.

About 100 people attended the event, which was jointly organized by the Busan-Jinhae Free Economic Zone Authority and the BJFEZ Foreign-Invested Companies Council, including representatives of foreign-invested companies and officials from related organizations.

The first BJFEZ Foreign-Invested Companies' Day event is underway.

Attendees included Kim Inho, chairman of the BJFEZ Foreign-Invested Companies Council and CEO of B&P Logistics Co., Ltd.; Busan City Council member Bae Youngsook, vice chair of the BJFEZ union council; Lee Soota, chairman of the BJFEZ Tenant Companies Council and CEO of PANASIA Co., Ltd.; Yang Jaesaeng, chairman of the Busan Chamber of Commerce and Industry and CEO of Eunsan Shipping & Air Co., Ltd.; and Choi Jaeho, chairman of the Changwon Chamber of Commerce and Industry and CEO of Muhak Co., Ltd.

Also in attendance were Moon Goyoung, chairman of the Korea Foreign Company Association and co-CEO of RWE Renewables Korea; Aslan Askar, Consul General of Kazakhstan in Busan; and Sonya Shayev Kim, representative of the French-Korean Chamber of Commerce and Industry.

The event presented awards to seven people for their contributions to attracting foreign direct investment and promoting regional development. Attendees also took part in a performance pledging mutually beneficial cooperation under the slogan “The World’s Best Business and Logistics Hub.”

At the forum that followed, participants shared tenant companies’ investment experiences and new investment opportunities in the free economic zone. Naigai Transline, which began a joint logistics business in the Ungdong hinterland in 2016, presented the growth of its business and examples of reinvestment. It also discussed its experience expanding into cold-storage facilities through a recent project worth 26 billion won. The company shared with attendees ways to cut logistics costs and manage inventory by leveraging the locational advantages of Busan New Port.

Commissioner Park Seongho and other distinguished guests take part in a commemorative performance to kick off the 1st BJFEZ Foreign-Invested Companies Day event.

The authority introduced remaining and new investment sites and held an investor relations (IR) briefing to attract businesses. It also explained the activities of the Foreign-Invested Companies Council and how companies can participate.

Lectures also examined the global trade environment and the outlook for exchange rates.

Kwon Amin, a research fellow at NH Investment & Securities, analyzed changes in the trade environment following the U.S. midterm elections and China’s policy direction around its 21st Party Congress in 2027. She also discussed U.S. and Chinese supply chain policies concerning open-source artificial intelligence (AI) and “AI + manufacturing.”

Commissioner Park Seongho said, “The 217 foreign-invested companies in the free economic zone are key players in the regional economy, accounting for about 25% of the total workforce and sales of all 2,442 tenant companies.” He added, “We will listen to businesses on the ground and provide support so they can establish themselves securely and make additional investments.”

Chairman Kim Inho said, “The Foreign-Invested Companies Council creates opportunities for cooperation in supply chains and logistics through collaboration among companies, and connects the challenges they face on the ground with policy.” He added, “We will work with the free economic zone authority to create an environment where companies can operate with stability.”

This content was produced with the assistance of AI translation services.