Investment Seminar on Busan Held in New Zealand

Busan City announced on April 4 that the city held an investment briefing for local businesspeople in a town hall in Auckland, New Zealand's largest commercial city on March 3 (local time).

This IR session was held for the first time since Busan and Auckland signed a sisterhood relationship agreement in April 1996.

Busan City received much attention from local entrepreneurs by making a presentation on Busan's excellent investment and living environments for foreign investors and Auckland's industry-leading smart city, marine leisure, film and video industries.

At the briefing, Auckland-based “S” company, which holds the world's best technology in the field of amphibious yacht building submitted a letter of intent (LOI) on its investment to the city. “S” company supplied rescue boats to Korean public institutions last year, and is planning to install production facilities and R&D facilities in Busan to advance into the Northeast Asian market in the future.

"This Auckland investment briefing session was held in order to secure a stable foreign investment environment in connection with future growth engine industries in Busan," said Suh Byung-soo, the mayor of Busan. "We expect this event to ramp up exchanges for economic cooperation between the two cities."

On the other hand, as a follow-up measure, Busan City will carry out activities to lead foreign companies in the advanced parts and material and shipbuilding sectors to make investment in Busan’s foreign investment zones such as the Mieum Foreign Investment Zone, Eco Delta City, Myongji International New City, the North Harbor Redevelopment Zone and the Southeastern Medical and Science Industrial Complex among others.