Busan City Holds '2023 Capital Region Corporate Investment Attraction Briefing'

10.11. 11:00, Seoul Yeouido Kensington Hotel, Investment Attraction Briefing for Companies in the Capital Area

Over 90 Companies Including Large Corporations and IT Firms... Focused Invitation of Companies in Opportunity Development Zones

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On the 11th at 11 a.m., Busan City will hold an investment attraction briefing session at the Kensington Hotel in Yeouido, Seoul, inviting about 90 outstanding companies and investment attraction organizations from the metropolitan area.

Busan City Hall.

This briefing session will begin with the signing of a Memorandum of Understanding (MOU) between Busan City and three advanced technology companies from the metropolitan area. It will cover this year’s investment attraction achievements, successful investment cases, and introduce the nation’s largest investment support system. The session will conclude with a Q&A between businesspeople, presided over by Deputy Mayor for Economic Affairs Lee Seong-gwon.

In particular, through this briefing session, Busan’s Opportunity Development Special Zone promotion strategy will be intensively promoted to secure preliminary investment demand for the special zone designation and accelerate the attraction of anchor companies.

The Busan-type Opportunity Development Special Zone plans to designate the following in stages: ① Busan Financial Special Zone, ② Power Semiconductor Special Zone, and ③ Secondary Battery-Mobility Special Zone. It will provide realistic and direct incentives as well as unprecedented regulatory exemptions.

The three companies signing the MOU with Busan City are all headquartered in the metropolitan area: ▲ Pumpkin, the No. 1 domestic company in electric vehicle charging infrastructure ▲ IQ Lab, a promising silicon carbide (SiC) power semiconductor company ▲ DT&C, a leading testing and certification company.

The total investment amount through this agreement is 110.2 billion KRW, with 216 new jobs expected to be created.

‘Pumpkin’ is the No. 1 company in the domestic electric bus charger market with about a 70% market share nationwide. It plans to build a production plant with a site area of 8,648㎡ in Gangseo-gu, Busan, where many automobile parts manufacturers are concentrated, aiming to start operations in the second half of 2024. Pumpkin plans to invest about 6.7 billion KRW in this new Busan factory, which is expected to create over 60 new jobs.

‘IQ Lab’ is a rapidly growing power semiconductor specialist company through bold technology investments. It plans to relocate its headquarters and research institute from Gyeonggi-do to Busan to build its own factory. From the second half of this year until 2026, it will invest more than 100 billion KRW to build a large-scale power semiconductor wafer production facility in the Dongnam Radiation Medical Science Industrial Complex in Gijang-gun, expected to create about 140 new jobs.

‘DT&C’ is an industry-leading company that was the first in the testing and certification field to be listed on the KOSDAQ market in 2014. From the second half of this year until 2025, it plans to invest about 3.5 billion KRW and create about 10 new jobs by establishing a testing and certification facility in Gangseo-gu, Busan. Through this investment agreement with Busan City, it is expected to reduce the burden on local companies that previously had to travel to the metropolitan area for essential testing and certification procedures for mass production.

Deputy Mayor for Economic Affairs Lee Seong-gwon said, “Busan is rapidly advancing key tasks such as the designation of the Busan-type Opportunity Development Special Zone and the relocation of the Korea Development Bank to Busan amid a major shift in the local era. We are also fully committed to the early opening of Gadeokdo New Airport and the final bid for the 2030 World Expo.” He added, “Through this briefing session, we will generously demonstrate Busan’s capabilities as a new growth axis of Korea and do our best to attract companies, which is a core task for national balanced development.”

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