500 volunteers from Asan heading to poor nations

BJFEZ Commissioner Ha Myeng-keun signs an agreement on Thursday with the Busan Port Authority on interagency coordination for investment promotion and joint marketing activities. Provided by BJFEZ

The Busan-Jinhae Free Economic Zone Authority (BJFEZ) and Busan Port Authority recently signed an agreement on interagency coordination to promote investment and work together on marketing activities, they said yesterday.

The primary purpose is to attract world-class logistics companies by providing them with favorable spots at the port and a better service for logistics systems. It also aims to create a high volume of container traffic through marketing partnerships.

The two trade agreements Korea has signed with the United States and the European Union are seen as creating new opportunities to attract foreign investors.

Japanese corporations in particular are using this as an opportunity to expand their U.S. and European markets by utilizing the Busan New Port’s logistics center. At the same time, companies from the U.S. and Europe are showing interest in also settling into the port’s logistics center.

By Limb Jae-un [jbiz91@joongang.co.kr]