EU Ambassador to Korea and EU Delegation Visit BJFEZ to Deepen Economic Partnership

        - BJFZ Strengthens Global Economic Network Through Cooperation with EU

- Korea’s Leading Free Economic Zone, BJFEZ draws global attention from Japan and EU

The Busan-Jinhae Free Economic Zone Authority (Commissioner Park Sung-ho, hereafter referred to as ‘the BJFEZ Authority’), announced that on February 19, Maria Castillo Fernandez, the European Union (EU) Ambassador to the Republic of Korea and EU Delegation paid an official visit to BJFEZ and held discussions with Park Sung-ho, Commissioner of the BJFEZ Authority.

The visit marks a significant step in enhancing BJFEZ’s global competitiveness and fostering deeper economic cooperation with the EU. It is expected to serve as a foundation for sustained collaboration between both sides and a catalyst for future economic growth.

During the meeting, both sides held in-depth discussions on attracting European companies, strengthening industrial cooperation, and establishing a sustainable investment environment.

Ambassador Fernandez particularly focused on the success stories of European companies in BJFEZ, noting the contributions of global industry leaders such as MSC, the world’s largest shipping company, Renault, Bosch Rexroth, Wilo Pump and others. These firms have been instrumental in advancing industrial growth and improving the local investment climate.

Since the establishment of BJFEZ, European companies have invested a total of $1.53 billion, accounting for approximately 32% of total foreign direct investment, making Europe the largest investor. This proves that BJFEZ is regarded as an attractive investment destination for European companies.

"The Busan-Jinhae Free Economic Zone is strategically positioned as a gateway for European companies looking to enter the Asian market.” said Ambassador Fernandez. She added, "This visit has been an invaluable opportunity to explore the potential for deeper cooperation.”

In response, Park Sung-ho, Commissioner of the BJFEZ Authority stated, "BJFEZ has established itself as a key economic hub in South Korea, and we are committed to providing the optimal business environment for European companies. We hope this meeting will further strengthen our partnership with the EU.”

Prior to the discussions, EU Delegation toured key industrial sites within BJFEZ, including Renault Korea Motors and the Busan New Port Terminal. The visits provided insight into the business operations and investment environment. Ambassador Fernandez also shared a vision for a green industry and smart logistics system and participated in discussions on sustainable development models.

This follows the visit of delegation from Okayama Prefecture, Japan on January 17, marking the second official visit which underscores BJFEZ’s role as a global economic hub. BJFEZ will continue to explore various opportunities to contribute to both regional and national economic growth through continuous collaboration with global partners.