"Busan Meets All the Conditions for a Business-Friendly City" ... Interview with Mayor Park Hyungjun

Over 11 Trillion Won in Investments Attracted Over the Past Four Years,
8 Trillion Won Targeted for This Year
Site Selection, Facilities, Permits, and Management:
A "Full Package" Support System

"When companies choose a city as an investment destination, the most important factors they consider are attractiveness and future prospects. Right now, Busan meets all those conditions."

Busan Mayor Park Hyungjun spoke with conviction about the "Busan-style Corporate Support Model" and the "Full-Cycle Support System," which are being actively promoted this year with a goal of attracting over 8 trillion won in investment.

He stated, "Our city has focused on 'comprehensive support for key local companies' and 'fostering Busan-style new industries' to drive industrial innovation and enhance the city's appeal." He also emphasized, "As a result, the amount of investment attracted has steadily increased over the past four years, surpassing 6 trillion won last year and reaching a cumulative total of 11 trillion won."

Mayor Park went on to say, "Investments by innovative companies such as the expansion investments of VC Tech and Renault Korea, the concentration of shipbuilding and marine R&D centers by Samsung Heavy Industries and Hanwha Ocean, the groundbreaking of smart logistics centers by Lotte Shopping, Coupang, and BGF Retail, and investments by DN Group are all opening up Busan's future."

He added, "We have established a 'full package' system that goes beyond simply attracting corporate investment to supporting the entire process, including site selection, infrastructure, permits, and post-investment management." He continued, "Through public-private cooperation, we are presenting customized investment solutions and actively working to directly resolve companies' challenges."

Busan Mayor Park Hyungjun is speaking about Busan's current issue of investment attraction plans.

The city of Busan is further accelerating investment attraction for large-scale new industries through the recent designation of various special zones. Mayor Park stressed, "The designation of specialized clusters for power semiconductor materials, parts, and equipment, as well as additional opportunity development zones for power semiconductors and secondary batteries, will make Busan an even more attractive investment destination, offering differentiated incentives unique to Busan such as tax credits, regulatory exemptions, and improvements to the residential environment."

Mayor Park identified "Busan-style infrastructure" as the reason why companies can come and invest in Busan.

"Busan has investment infrastructure that is friendly to businesses. Now, companies can enjoy tangible benefits and grow in Busan. All of these factors will serve as the foundation for Busan's growth as a global hub city."

He also said, "To make Busan a global hub city, we are accelerating efforts to attract world-class foreign educational and research institutions," and added, "We are devoting our efforts to nurturing the talent that companies need through a virtuous cycle of industry-academia cooperation."

"To recruit and retain top global talent, we are strengthening the attraction of foreign educational and research institutions and enhancing the industry-academia cooperation system. Our city will actively operate talent development programs tailored to the needs of investing companies, continuously supplying the workforce required by local businesses."

Mayor Park emphasized, "The establishment of foreign educational institutions and the improvement of residential and transportation infrastructure in Myeongji International New City will also play a significant role in enhancing the global investment environment."

He stated, "Busan must not only be a city that attracts investment, but must also become a city where companies want to stay and settle. The collaborative network involving the central government, industry, and related institutions will serve as a solution to labor shortages and the crisis in domestic demand."

All of Busan's support policies are aimed at providing a foundation for companies to grow stably.

"Busan is already a city that is successfully attracting investment. From now on, Busan will be reborn as a 'city where companies stay' and can achieve long-term growth. We will continue to provide comprehensive support to ensure companies can establish themselves securely."

Contained within Mayor Park's closing remark about a "city where companies stay" was his frequently used vision of "Global City Busan."

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