The Investor

Vol. 63

As 2008 comes to a close, the BJFEZ Authority continues to expand development and finding positive channels to publicize the FEZ.

December 17^th and 22^nd, 2008-The BJFEZA met with investment consultants at the Seoul Plaza Hilton and in the Yongwon district of Jinhae city.  The BJFEZA delegation presented the main investment and development plans for 2009; the development plans specify the concept of establishing exclusive foreign investment zones for the parts and materials industry in both the Mieum and Nammoon districts.  Also presented were the acceleration of the development plans for both Myeongji and Ungdong districts.  The idea behind this concept is to diversify the BJFEZ’s base for 21^st century competition.  The feedback from the consultants was invaluable and will be put to use in the development plans.

In a related development, the Ministry of Knowledge and Economy announced the preliminary approval of the designation of the FIZs in both Nammoon and Mieum districts; the size of the Nammoon FIZ will be 132,000㎡ while the Mieum district will be 330,000㎡.  Formal designation will be made after 6 months pending review of LOIs and/or MOUs obtained from potential investors by the BJFEZA.  Once formally designated substantial financial support from the central government will be provided (up to 75% contribution of land formation costs and various extended tax benefits)

December 19^th, 2008,-The BJFEZ Authority hosted a 25 member KOTRA delegation which included a tour of the BJFEZ.  The KOTRA officers will be posted overseas to cities such as London, New York, Dallas, Shanghai, Osaka and Singapore to promote Korean investment and attract foreign direct investment.  The BJFEZA tour included a visit to the newly built Vision Hall 2020 along with a site tour of the New Port, Myeongji, Jisa, Ungdong areas and Geo-ga Bridge.  The final leg of the tour included a stopover at SKF, a foreign invested corporation, located within the FEZ.  The purpose of the tour was to publicize the FEZ and impress upon the KOTRA officers, the benefits of investing in the Busan-Jinhae Free Economic Zone.  This event is planned to be held 2 times a year.

The Ungdong Tourism & Leisure Complex project is moving forward fast.  A project seminar will be held in February 2009 for potential developers.  This will give both the BJFEZ Authority and developers the chance to meet and discuss opportunities within the Ungdong area of the FEZ.  Letters of Intent are invited by mid-March 2009 and the document submission deadline will be in May 2009.

For further information regarding current projects or any other matter, please contact us Monday-Friday 9 am-6 pm.

Paul Lanari

Public Relations Officer

82-51-979-5332

paul@bjfez.net

Bill Woo

Public Relations

82-51-979-5330

billwoo@bjfez.net