Authority awards winners of the 4th annual BJFEZ English Speech Contest

September 17th, 2010-The BJFEZ Authority held its 4th annual English speech contest for 3 days from September 13-15th; the awards ceremony was  held on September 17th for the 28 winners-7 from each category (Elementary-Middle-High-College)-of the 85 candidates from all education levels.

7.2 million won was given away in prize monies including 1 million (KRW) as the top prize at the college level. An additional bonus for the 13 of the 28 winners was the honor of being selected as recipients of scholarships valued at 10 million (KRW) from the Macheon Scholarship Fund run by Taekwong Co. Ltd, a major steel pipe and valve manufacturer active in the BJFEZ area. Panelist judges noted a marked improvement in the contestants' English speaking capabilities-particularly the college level students which was very competitive including an on the spot Q&A with the judges.

The annual contest is held to foster a positive relationship with the communities of Busan and Changwon while building on the students English speaking abilities and instill a sense of the local community in the context of the global community. This is part of the BJFEZA's on-going strategy to build awareness of the FEZ and the surrounding area.

BJFEZ Logistics Seminar

September 8th, 2010-The Busan-Jinhae Free Economic Zone along with the MInistry of Land, Transportation and Maritime Affairs co-hosted a seminar for enhancing competitiveness of the BJFEZ and the Busan New Port. The event was held at the Busan-Gyeongnam Small Business Training Institute located in the Jinhae-gu district of Changwon.

Keynote speakers included Dr. Seong-woo Lee of the Korea Maritime Institute, Rowan George Bullock, Vice-President of Operations for PNC, a terminal operator in the new port and Professor Su-won Seo of Dongseo University and Boo-won Kong, Director of the Busan Port Authority. Dr. Lee lectured on development strategies to attract global companies through adapting to shifts in the global economic paradigm ; Professor Seo made a presentation regarding the BJFEZ's role and strategies to enhance the new port while Boo-won Kong addressed best strategy practices to manage Busan Port operations. Rowan George Bullock presented the case of PNC, a consortia including Dubai Ports World, as a model for future foreign investment into the new port.

Following the presentations a panel discussion on the ways and means to enhance competitiveness and strength of both the BJFEZ and the Busan New Port took place emphasizing its strategic location for logistics in Northeast Asia and the close access to the Southeastern industrial belt which plays a pivotal role in Korea's high-tech advanced manufacturing.

In a related development to the seminar will be the announcement of opening of proposal bids for develoment of the Ungdong area in late September to investors. This development is expected to generate further synergies for growth of the BJFEZ and the New Port.

October Events

Japanese auto-parts manufacturer Tsubakimoto Chain Co., has announced as per the mou between the BJFEZ and the manufacturer construction of its 25,815 m2 $25 million (USD) facility in the Nammoon Parts & Materials Industrial Park  will begin in October.

This represents a continuing trend for IFDI (Inward Forward Direct Investment) into the BJFEZ, since 2004, in dollar terms,  Japanese investors are crucial to the on-going of the Busan-Jinhae Free Economic Zone.

If you have any further questions, contact Moon Song-A at 51-979-5341