"Baemin, Coupang, Naver All Come Oiso!" ... Busan Investment Attraction Briefing Held in Seoul

Busan City Investment Attraction Campaign Targeting Metropolitan Area Companies ‥ LX International 233 Billion KRW Agreement

Companies Signing MOU and Attending the Busan Investment Promotion Briefing Session.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] ‘Baemin’, Coupang, Naver, all come to Oiso!

A briefing session to attract investment from metropolitan area companies to Busan was held in Seoul.

Busan City announced that on the 3rd at 11 a.m., it will hold an investment attraction briefing session at the Glad Hotel in Yeouido, Seoul, inviting companies from the metropolitan area.

This year’s briefing expanded its scale by inviting about 30 companies including large corporations such as Naver and Coupang, mid-sized companies, IT (information and communication) small and strong companies, investment attraction organizations, and overseas companies.

The event will proceed in the order of signing a memorandum of understanding (MOU) on investment between Busan City and three companies including LX International, introducing Busan City’s investment attraction achievements and strengths, and listening to the voices of companies on site.

Busan Mayor Park Hyung-joon will directly participate in the event to listen to the voices of businesspeople on site, conduct Q&A sessions, and lead corporate investment attraction.

The companies signing an investment attraction business agreement (MOU) with Busan City are LX International, a leading domestic general trading company; ClouXus, one of Korea’s leading cloud service companies; and Woowa Brothers, famous for ‘Baedal Minjok’ (Baemin).

Founded in 1953 as ‘Rakhee Industry’, LX International is a leading domestic general trading company that has secured more than 50 global business bases in 20 countries under the names ‘Lucky-Goldstar Trading’ and ‘LG Trading’.

In May this year, LX Holdings, established through a spin-off from LG, officially launched, and LX International was incorporated as a subsidiary and changed its name to LX International Co., Ltd. as of July 1.

They have selected eco-friendly business and logistics business as new growth engines and are promoting projects such as resource circulation, hydropower generation, CDM (Clean Development Mechanism) projects, and logistics warehouse development.

The logistics center planned by LX International is scheduled to be built as a Southeast regional hub international logistics center on a site of 59,969㎡ within the Busan Gangseo-gu International Industrial Logistics City, aiming to start operations in January 2025.

From 2021 to 2024, a total investment of about 230 billion KRW will be made, creating about 1,500 new jobs.

Based on LX International’s business experience in eco-friendly and logistics sectors, this logistics center will be developed as an eco-friendly international logistics center.

Yoon Chun-sung, CEO of LX International, said, “We appreciate Busan City’s active investment support efforts,” adding, “Through the development of an eco-friendly logistics center, we will create good jobs for the Busan local community and contribute to regional economic development and the realization of a green smart city.”

ClouXus is the only cloud management (MSP) specialized company in Korea holding Microsoft’s Azure global technology highest grade, showing more than double sales growth every year since 2019.

It boasts verified cloud technology, having been selected as the top partner of Microsoft Korea in 2021.

In the first half of 2022, it established a business site in Centum City, planning to invest more than 800 million KRW over two years and hire more than 30 employees.

Woowa Brothers operates ‘Baedal Minjok’, the nation’s number one delivery platform, and plans to create about 500 new jobs by establishing two Woowa Brothers contact centers (Jung-gu, Busanjin-gu) in Busan by 2022, and operate Baemin Academy to provide customized education and consulting to small business owners in the Busan area.

Busan Mayor Park Hyung-joon said, “Busan’s attractive living conditions, excellent human resources, and industrial base as a world-class port city will reach their peak through future developments such as Eco Delta City development, Gadeokdo New Airport construction, and the 2030 Busan Expo.”

This content was produced with the assistance of AI translation services.