[Sponsored Report] Japanese company completes construction in BJFEZ

Officials from South Gyeongsang Province, the BJFEZ Authority, Changwon City and Tsubakimoto Chain Co. cut the ribbon at the completion ceremony.

Busan-Jinhae Free Economic Zone (BJFEZ) Authority announced that the first plant constructed with foreign investment in the Nammoon District of the BJFEZ has been completed. A ceremony to mark the occasion was held on Oct 17.

The world’s largest chain maker, Tsubakimoto Chain Co., has invested $25 million to establish a Korean branch of the company, Tsubakimoto Automotive Korea.

The construction covers an 8,317-square-meter (2-acre) area and cost 10.5 billion won ($9.1 million) to complete. The company will invest around 19 billion won in manufacturing facilities to produce timing chains which will then be supplied to Hyundai Motor Company and Kia Motors. With the completion of construction, it is hoped that the Nammoon District in the BJFEZ will become home to more foreign companies.

By Lee Ji-hyun [concordia@joongang.co.kr]