Busan City Signs Business Agreement with Korea Water Resources Corporation to Promote Busan EDC Corporate Attraction

Aerial view of the EDC Industrial Complex.

[Asia Economy Yeongnam Reporting Headquarters, Trainee Reporter Hwang Du-yeol] On the 17th at 2:30 PM, Busan City will hold a business agreement ceremony at City Hall with Korea Water Resources Corporation, the joint operator of the Busan Eco Delta City (EDC) development project, to promote the attraction of companies to the industrial sites in Busan Eco Delta City.

The ceremony will be attended by Kim Yoon-il, Deputy Mayor for Economic Affairs of Busan City, Lee Jun-geun, Director of the Green Infrastructure Division at Korea Water Resources Corporation, and officials related to EDC development, sales, and company attraction.

In the agreement, both organizations will promote ▲ the designation of a Busan City company attraction exclusive zone within the EDC industrial sites ▲ priority supply of industrial sites sales, tenant company screening, and Busan City recommended companies ▲ the formation and operational cooperation of the EDC company attraction council.

The EDC development project is a joint effort by Busan City, Korea Water Resources Corporation, and Busan Urban Corporation to develop and create an eco-friendly complex waterfront city on three waterfront areas: Seonakdong River, Pyeonggangcheon Stream, and Maekdo River.

Busan City and Korea Water Resources Corporation will strengthen mutual cooperation to attract excellent companies by creating industry-specific clusters. They decided to designate 160,000 pyeong of the ‘Busan City company attraction exclusive zone’ within the EDC industrial sites, expanding Busan City’s autonomous authority in the company attraction process, including exercising recommendation rights.

The Busan City company attraction exclusive zone will enable customized integrated and comprehensive management according to company attraction strategies, serving as a vanguard for attracting excellent companies centered on advanced industries.

They will also newly form the ‘EDC Company Attraction Council,’ jointly participated by Busan City and Korea Water Resources Corporation, to communicate throughout the entire process from ‘EDC site sales → marketing → company attraction → move-in.’

The council will hold biweekly working meetings until the final completion of the EDC Phase 1 project (Myeongji area) in 2023, serving as a permanent collaboration channel for efficient company attraction.

Immediately after the business agreement ceremony, the city will hold a kick-off meeting for the ‘EDC Company Attraction Council.’

At the meeting, detailed promotion plans for revitalizing company attraction, such as the creation of strategic clusters centered on advanced industries and sharing information on major target companies, will be discussed to accelerate the establishment of EDC as an advanced business hub.

Park Hyung-joon, Mayor of Busan, stated, “We plan to apply the cooperation system with Korea Water Resources Corporation to similar development projects such as the North Port redevelopment, the relocation site of the Beomcheon-dong railway vehicle maintenance depot, and the research and development special zone.”

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