Busanjinhae Free Economic Zone Authority Holds 2nd Corporate Field Tour for Win-Win Cooperation Among Tenant Companies

Visit to Korea Tsubaki Motive Automotive, a Global Foreign-Invested Company in Jinhae
Pursuing Sustainable Growth through Win-Win Cooperation and Sharing Innovation Cases among Companies

The Busanjinhae Free Economic Zone Authority (Director Park Seongho) conducted a corporate field tour on the 11th with representatives from more than 20 tenant companies.

This was the second program of the year, aimed at overcoming management difficulties stemming from global economic uncertainties and exploring sustainable innovation models through inter-company exchanges and mutual learning.

This field tour followed a visit to Panasia Co., Ltd. in August and was the second such initiative, allowing participants to directly observe actual management, production, and innovation cases on-site. It is a field-oriented, win-win program based on cooperation among tenant companies.

The company visited on this day was Korea Tsubaki Motive Automotive Co., Ltd., represented by Vice Chairman Lim Younggab of the Tenant Companies Council. It is a foreign-invested company located in Nammun-dong, Jinhae-gu, Gyeongnam, within the Busanjinhae Free Economic Zone.

On the 11th, Park Seongho, Director of the Busan-Jinhae Free Economic Zone Authority (5th from the left in the front row), who participated in the 2nd Corporate Field Tour held by Korea Tsubakimoto Automotive, is taking a commemorative photo with the attendees.

Attendees at the field tour included Lee Sutae, Chairman of the Tenant Companies Council (CEO of Panasia), Hwang Soyong, Secretary-General (CEO of DHTech), Yang Jaesaeng, Chairman of the Busan Chamber of Commerce and Industry (CEO of Eunsan Shipping & Air), and Choi Jaeho, Chairman of the Changwon Chamber of Commerce and Industry (CEO of Muhak).

The event featured a variety of programs, including a company introduction video, a factory tour, sharing of key production processes and management know-how, and a Q&A session. Through inter-company exchanges, participants strengthened the foundation of trust and cooperation and discussed various management innovation ideas, such as productivity improvement, technological advancement, and the expansion of global supply chains.

Established in Korea in 2009, Korea Tsubaki Motive Automotive Co., Ltd. specializes in the production of timing chains and related parts for automotive engines. As of 2024, the company achieved sales of approximately 102.9 billion won, maintaining stable growth in both domestic and international markets.

The parent company, Japan’s Tsubakimoto Chain Co., Ltd., holds a global market share of about 40% in the timing chain system sector and possesses world-class technological competitiveness. The Korean subsidiary serves as a core production base in Asia and plays a key role within the group.

In addition, the company is continuously expanding investments to secure next-generation manufacturing competitiveness, such as developing eco-friendly timing systems for vehicles and innovating energy-saving processes. Leveraging its global network in collaboration with the Japanese parent company, it supplies chain components to major automobile manufacturers worldwide. In particular, it is accelerating the expansion of its global supply chain, targeting the hybrid vehicle market.

Lim Younggab, CEO of Korea Tsubaki Motive Automotive, stated, “I sincerely welcome and thank the representatives of the Tenant Companies Council for their visit. As a responsible company that grows together with the region, we will do our best to enhance productivity and pursue sustainable management.”

Chairman Lee Sutae (CEO of Panasia) commented, “I am pleased that we could share Korea Tsubaki Motive Automotive’s technological capabilities and quality innovation cases with the tenant companies through this field tour. I hope that, based on close communication and cooperation among tenant companies, we can overcome the challenging business environment together.”

Director Park Seongho emphasized, “The driving force behind the growth of the Busanjinhae Free Economic Zone ultimately lies in the business sites. I hope tenant companies will seek opportunities for growth even in times of crisis and establish a foundation for collective advancement. The Authority will continue to expand field-oriented support policies so that win-win cooperation and innovation among companies can be actively promoted.”