The Investor

Vol. 62

November 21^st BJFEZA- BJFEZA Commissioner Moon-Hee Kim officially opened the doors to the BJFEZA PR Center or otherwise known as ‘2020 Vision Hall.’  The PR center includes an exhibition area with miniature map of the topography of the BJFEZ and detailed models of both the Myeongji and Ungdong areas.  The ‘2020 Vision Hall’ also has various audio/visual displays illustrating the future visions, blueprints, merits and growth motive of the 21 current districts which make up the Busan-Jinhae Free Economic Zone.  There is also a lounge area where visitors can relax and a media center for presentations, films and a meeting room for business meetings with potential investors.  Operating hours are 9-6 pm Monday through Friday with friendly and courteous staff to address all queries.

November 18^th, 2008- BJFEZA held a seminar exploring the competitive potential of the Ungdong Tourism& Leisure Complex at the Changwon City 7 Pullman Ambassador Hotel.  Approximately 100 guests participated in the event to explore ideas, themes to design the Tourism & Leisure Complex.  Two main themes were presented: ‘The overview of the Ungdong District, Concept and Major Facilities to be Introduced’ and ‘Trends in Medical Tourism Development and Growth Prospects.’  Two main speakers presented their ideas with a 5 member panel from the tourism field to deliberate and discuss ideas regarding the Tourism & Leisure Complex.  Ms. Hyun-Joo Park the Director of DePartners Co. Ltd presenting the concept of the former while Dr. Ji-Yoon Yoo, senior researcher for Korea Culture & Tourism Institute, presenting her concept for the latter.  The five member panel included: Mr. Koo-Jeom Chung, Professor of Hotel Management Yongsan University, Mr. Yong-Jin Kim of Korea Medical Tourism Co, Ltd., Hong-Ja Jung, Jinhae Newport Development Committee, Suk-Gi Kim the Manager of the Department of Culture and Arts South Gyeongsang Provincial government and Byung-Hoon Lee Manager of the Logistics Assistance Team for the Ministry of Knowledge and Economy.

Issues raised and discussed by the panel focused on themes such as an eco-friendly concept of development, the need to secure land in the early stages of development with the ability to add facilities following future trends.  From the medical tourism presentation the need to link the concept of the Ungdong district with wellness tourism rather than medical treatment.  Tourism promotion programs stressing individual experience to generate the word of mouth trend in tourism to the establishment of youth exchange programs to secure a future market early on.  Other ideas discussed included concentrating the medical tourism in the Namsan district, the concept of a Marine School for teens utilizing facilities already planned to continued financial support from the central government to continue to foster the tourism industry in Southeast Korea.  From these discussions, recommendations made will find their way into the on-going development model for the Tourism & Leisure Complex to be located in the Ungdong area.

Greenbelt Restriction Under Review

September 30^th, 2008- The Ministry of LTMA (Land, Transportation and Maritime Affairs) announced a proposal to lift development restrictions nationally.  Included in the announcement, an area of land within the BJFEZ equaling 30% of its total area, 33 km² of ‘greenbelt’ land of little preservation value is planned to be re-designated as land for development.  If the proposal passes the area to be developed includes a vast parcel of land in the Myeongji area which is slated to become the Busan New Port hinterland high-tech international logistics city.  Of the total 1.9 million m² available for development, it will become considerably easier for developing the Myeongji International City as well.  If the lifting of restrictions is passed, it is expected this will accelerate BJFEZ development.

Paul Lanari

Public Relations Officer

++82-51-979-5332

paul@bjfez.net

Bill Woo

Public Relations Director

++82-51-979-5330

billwoo@bjfez.net