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BJFEZ News

[OPEN-BIDDING] BJFEZ to seek a Developer for the Business Facility Sites in Myeongji International City

CreateDate
2022-06-24 17:41:20
Writer
BJFEZ

Sites for Business Facility in Myeongji International City

Sites for Business Facility in Myeongji International City

 

BJFEZ to seek a PROJECT DEVELOPER for the Business Facility Sites 


BID opens from May 31 to August 31, 2022

Selection of preferred bidder : October 2022(planned)

BJFEZ  a) to attract the companies related to the quaternary sector of the economy and core strategic industries of BJFEZ  b) to establish the basis for revitalizing the local economy, including creating high-quality jobs


 

Busan-Jinhae Free Economic Zone Authority announced that it would re-select the preferred bidder among consortiums with foreign investors for the <Business Facility Sites in Myeongji International City>, located in the west part of Busan. The total size of the two sites is 90,192㎡(22.3ac/9.0ha). 

The purpose of a new project developer selection is to promote Myeongji International City as a global hub city with a well-balanced Logistics Triport (airport+port+railway) infrastructure.

This is a re-selecting process since the initial project was canceled in 2017, as the former preferred bidder did not perform the investment plan. Thus, the selecting method of the project developer has altered from a private contract to an open bid.

The bidding started in May 2022, and project proposals are required to be submitted to BJFEZ Authority on August 31st. 

The participants of the open bid will go through a fair and professional assessment procedure by the BJFEZ Evaluation Committee, which consists of over ten experts in the related field and institutions.

This project, in particular, puts a strong emphasis on the contribution to the local community including the participation of the consortium of the companies located in Busan. Therefore, this project is anticipated to be an excellent example of demonstrating the coexistence and shared growth of the local community and the project developer.

In addition, it is expected to revitalize the local economy and create high-quality employment by attracting related companies and institutions in the quaternary sector of the economy and core strategic industries of BJFEZ.

As the project proceeds, Myeongji International City will leap into a global business city with its convenient transportation that has already been developed or will be developed such as Gadeok International Airport, Busan New Port, and Namhae Expressway, and as a consequence, creating a synergy effect for business.

 

"We will select the project developer through a fair and professional evaluation of the business proposals. After going through the thorough business negotiation and agreement, we will launch the project this year with the designated operator in earnest."

 Kim Ki-young, the commissioner of BJFEZ