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[Sponsored Report] BJFEZ hosts its first photography contest

Commissioner Seo Seok-soong

Busan-Jinhae Free Economic Zone Authority (BJFEZ) has actively attracted foreign capital since its establishment in 2004. As of 2012, BJFEZ attracted $1.5 billion in foreign capital, ranking second after Incheon out of the six Free Economic Zones including Incheon, Gwangyang, Saemangeum-Gunsan, Hwanghae and Daegu-Gyeongbuk.

High-tech industry received the largest amount of investment at $1.02 billion and new port construction followed with $402 million. Logistics and education attracted $97.6 million and $20 million, respectively, and tourism and leisure attracted $2.7 million.

BJFEZ successfully received investment from 88 domestic and foreign companies and it aims to become a global special economic zone by 2020.

To achieve this goal, BJFEZ plans to invite more investment by reaching out to emerging economies such as China and India, focusing on high-tech companies and the R&D industries of developed countries.

Hoping to raise public interest and strengthen its image, BJFEZ announced they will host the first BJFEZ photo contest to collect photographs for marketing. Participants of any nationality can submit up to two photographs of people, environment, landscape, development and companies related to BJFEZ. There is no entry fee and participants should submit their work via mail or visit the authority from Oct. 1 to 31.

Some of the best work will be awarded cash prizes by the commissioner of BJFEZ, ranging from 150,000 to 2 million won ($134 to $179,175). A total of 9.2 million won will be given to 24 photographers.