2024 BJFEZ Foreign-Invested Companies Meeting' Successfully Concluded:

BJFEZ Authority Meets with Foreign-Invested Companies to Discuss Regulatory Innovation

◈ Held a meeting for foreign-invested companies to share regulatory challenges and exchange information.

◈ Companies expressed interest in major measures for the second half of the year, including the 'Smart Safety Management Program to Prevent Serious Accidents’ and 'Support for ESG Management Introduction.'

The Busan-Jinhae Free Economic Zone Authority (Commissioner Kim Ki-young, hereafter referred to as the BJFEZ Authority) announced on June 27 that it successfully held the '2024 BJFEZ Foreign-Invested Companies Meeting' for tenants in the foreign investment zone (Jisa, Mieum, and Nammun), chaired by Commissioner Kim Ki-young.

This was the first meeting for foreign-invested companies hosted by the commissioner, organized to gather feedback on business activities and share information about current issues. The meeting was attended by ten participants, including Commissioner Kim and representatives from eight foreign-invested companies.

During the meeting, attendees discussed ways to facilitate deregulations and administrative support to attract high-tech and blue-chip companies from abroad, as well as shared insights on building a high-tech logistics hub ecosystem.

The session also focused on collecting opinions regarding regulations and obstacles that hinder business operations. The BJFEZ Authority committed to gathering and addressing unreasonable regulations and on-site challenges through the operation of the 'BJFEZ Business Factual Survey and Export Obstacles Survey Team.'

Additionally, in light of the Serious Accidents Punishment Act, a major concern for companies in recent years, the BJFEZ Authority introduced key initiatives such as the 'Smart Safety Management Program to Prevent Seruiys Accidents' and 'Support for the Introduction of ESG Management' to engage company representatives.

"As it is vital to create a conducive environment for investment to attract overseas companies, we will contribute to regional economic growth through bold regulatory reforms and a comprehensive investment attraction strategy," said Kim Ki-young, Commissioner of the BJFEZ Authority. "We will continue to enhance the investment environment by maintaining regular dialogues with companies, like today's meeting, to support their stable business operations."