Busan Urban Corporation Signs Lease Agreement with Komotech for SME-Exclusive Land in International Industrial Logistics City

Busan Urban Corporation (BMC, President Shin Changho) announced that on November 18, it signed a lease agreement with Komotech Co., Ltd. for two plots (13,225.4 square meters) of land designated for small and medium-sized enterprises in Section 6 of the Busan New Port Hinterland International Industrial Logistics City.

Komotech is a specialized company that produces advanced refrigerator components and is a primary supplier to LG Electronics. The company has enhanced its competitiveness by developing its own small refrigerator products and being recognized for its technological capabilities.

This contract is a follow-up measure to the occupancy agreement signed between Busan Metropolitan City and Komotech in May last year. Komotech will relocate and expand its current production facility in Gimhae to the International Industrial Logistics City, near its headquarters in the Mieum Industrial Complex in Gangseo-gu. Through this move, the company aims to strengthen production and logistics integration with its headquarters and create new jobs.

Shin Changho, President of Busan Urban Corporation, stated, "This is significant in terms of attracting outstanding small and medium-sized enterprises and creating quality jobs," adding, "We will expedite the supply of unsold and unleased land to contribute to revitalizing the local economy."

Busan Urban Corporation.

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