Free Economic Zones Break Down Boundaries to Expand 'Freedom'... Busanjinhae and Ulsan Authorities Pursue Joint Regional Growth

Cooperation Beyond Borders: First Step Toward Southeastern Growth and Industrial Innovation
Building Collaboration Across Industry, Investment, and Development for Mutual Prosperity

The free economic zones in the Busan-Ulsan-Gyeongnam (BUKG) region are seeking to form alliances to enhance joint growth synergy.

The Busanjinhae Free Economic Zone Authority (headed by Park Seongho) announced on the 20th that it visited the Ulsan Free Economic Zone Authority (headed by Lee Kyungsik) to discuss the establishment of a cooperative system in the fields of industry, investment, and development, as well as ways to promote mutual growth within the broader regional economic bloc.

This visit was arranged to strengthen the foundation for strategic cooperation between the two free economic zones, which share similar industrial bases and locational conditions in areas such as ports, industrial complexes, and the energy sector. It serves as an opportunity to explore joint growth strategies for the southeastern industrial belt.

On the 20th, Park Seongho (third from the left), head of the Busanjinhae Free Economic Zone Authority, and Ryu Jaegyun (fourth from the left), chief of business operations at the Ulsan Free Economic Zone Authority, are posing for a commemorative photo at the Ulsan Free Economic Zone Authority exhibition hall.

On this day, the two authorities held in-depth discussions on several issues: strengthening the connection between new energy industries such as hydrogen and secondary batteries and advanced manufacturing industries; jointly conducting investor relations activities to attract global investment; establishing a collaborative response system for the transition to eco-friendly industries; and sharing and activating exchanges on major current issues between the two organizations.

In particular, they discussed creating an industrial cooperation model that links Ulsan's hydrogen-centered energy ecosystem with the advanced industrial complexes and logistics infrastructure of Busan and Jinhae, as well as expanding the foundation for eco-friendly new industries and generating synergy for the southeastern industrial belt.

Additionally, by touring the hydrogen industry base district and visiting the Ulsan Port Authority (headed by Byun Jaeyoung), the participants directly examined the current status and strategies of Ulsan's hydrogen-centered energy industry ecosystem and assessed the potential for establishing cooperation models in the field of eco-friendly new industries in the future.

Park Seongho, head of the Busanjinhae Free Economic Zone Authority, said, "If Ulsan's hydrogen and secondary battery-centered new energy industries are connected with Busanjinhae's advanced industrial complexes and logistics infrastructure, the southeastern region can emerge as a central axis of industrial innovation."

He added, "If the two free economic zone authorities share industries, technologies, and infrastructure to enhance synergy, we can become even more competitive in the transition to eco-friendly new industries and the attraction of global investment. We will focus our efforts on strengthening the cooperative network for balanced development and joint growth within the southeastern regional economic bloc."

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