BJFEZ Authority Celebrates 20^th Anniversary

as a Leading Global Logistics and Business Center

 

◈ Held a ceremony on the 29^th of March to celebrate the 20^th anniversary, recognizing 15 civilians and government officials.

◈ 1,954 companies established operations, employing 58,000 people, with the zone generating sales of KRW 37 trillion.

The Busan-Jinhae Free Economic Zone Authority (Commissioner Kim Ki-young, hereafter referred to as 'the BJFEZ Authority'), with a vision of realizing the World's Leading Logistics and Business Hub, celebrated its 20^th anniversary on the 29^th of March with a commemorative event in the 5^th-floor conference room of the government building.

During the event, certificates of commendation were presented to 10 government officials and 5 private citizens who contributed to the revitalization of the BJFEZ.

Additionally, a special commemorative video was created to mark the anniversary, reflecting on the achievements of the BJFEZ Authority over the past two decades and emphasizing future priorities.

Since its opening in March 2004, the BJFEZ Authority has attracted $4.442 billion in foreign investment, focusing on high-tech industries and port logistics centered around the Busan New Port. It has received the highest grade in the FEZ evaluation for two consecutive years, establishing BJFEZ as the leading FEZ in Korea and a key economic growth region in southern Korea, including Busan and Gyeongnam.

With the completion of Gadeokdo New International Airport in 2029 and Jinhae New Port in 2040, the BJFEZ will be positioned at the heart of a large-scale air, port, and rail Tri-port. The BJFEZ Authority plans to leverage its strategic location to create an optimal investment environment.

The authority aims to develop a high-value-added business environment by transforming Wasung, Bobae Complex, Woongcheon, Namsan, and Ungdong into a global complex logistics belt, establishing a one-stop system for logistics, manufacturing, processing, and export in the distripark of the new port.

Starting with Myeongji International New City, the goal is to create a settlement environment for foreigners and high-level workers, realizing the vision of the world's best logistics and business center where global companies and talented individuals thrive.

Kim Ki-young, commissioner of the BJFEZ Authority, stated, "Over the past 20 years since our foundation, we have achieved our current success through the dedication and efforts of many people, despite changing domestic and international economic environments. We will strive to make the BJFEZ a new growth axis of the Korean economy, serving as a mecca for high-value-added logistics and global high-tech industries, looking ahead to the next 50 and 100 years."