"Inviting Seoul Metropolitan Area Companies"... Busan City Holds 'Investment Attraction Briefing' in Seoul

At 10:30 AM on the 29th, over 200 representatives from IT and advanced companies in the Seoul metropolitan area invited

Busan Mayor Park Hyung-jun to personally host the briefing... Plans to attract investment from metropolitan companies

Investment agreement signed... Total investment of 252.5 billion KRW, expected to create over 310 new jobs

On the 29th at 10:30 AM, Busan City will hold an investment attraction briefing session at the Glad Hotel in Yeouido, Seoul, inviting over 200 representatives from advanced companies and potential investors located in the metropolitan area.

This briefing session is notably led directly by Mayor Park Hyung-jun, who is actively engaging in attracting corporate investments.

The event will proceed in the following order: ▲ signing of investment memorandums of understanding (MOU), ▲ sharing this year’s investment attraction achievements and successful cases, ▲ introduction of Busan’s business-friendly environment and the nation’s largest investment incentives, and ▲ a dialogue session between Mayor Park Hyung-jun and business leaders.

Since the goal of this briefing is to attract investments from IT and advanced technology companies based in the metropolitan area, the focus will be on Busan’s strategic industries such as semiconductors, finance, and secondary batteries. The investment environment and incentives will be explained, and companies will be encouraged to invest in Busan.

Additionally, the briefing will heavily promote the ‘Busan-type Opportunity Development Special Zone Promotion Strategy’ to secure preliminary investment demand and attract leading (anchor) companies for the special zone designation.

Besides the Busan Financial Special Zone designated in June, Busan plans to progressively designate ① the Power Semiconductor Special Zone and ② the Secondary Battery-Mobility Special Zone, offering realistic and direct incentives along with exceptional regulatory exemptions.

Furthermore, the city will sign investment agreements with four companies: Nongshim, IEN Hanchang, Sign Telecom, and Korea Perstek. Through these agreements, an investment of 252.5 billion KRW is expected to create approximately 310 new jobs in Busan.

Nongshim, a core affiliate of the Nongshim Group and a leading domestic ramen manufacturer, plans to expand its ‘export-only production plant’ at the Noksan factory site in Busan by investing over 220 billion KRW in a total floor area of 51,000㎡ to produce 500 million ramen units annually. This expansion comes amid the rising popularity of K-food driven by the recent ‘K-content’ wave. A Nongshim official stated that the decision to invest was influenced by the locational advantage of Busan New Port, which boasts the nation’s best logistics and transportation network.

Founded in Busan in 1975, IEN Hanchang is a local company specializing exclusively in transformer manufacturing since its inception. It is an export-oriented company with 99% of its sales focused on the U.S. market. Due to the recent surge in transformer orders driven by global renewable and nuclear energy expansion, the company plans to expand its headquarters in Gijang-gun. From the first half of next year until 2026, it will invest over 30 billion KRW to expand its production line, expecting to create about 60 new jobs.

In addition, Sign Telecom, an IT company related to smart displays, plans to establish a Busan branch by 2027, and Korea Perstek, a platform construction specialist company, also plans to set up a new base in the Munhyeon Financial Complex in Busan by 2026.

Moreover, the city plans to conduct on-site familiarization tours for corporate representatives attending the metropolitan area investment briefing to encourage corporate relocation and investment in Busan through multifaceted attraction activities.

As of September, the city has exceeded this year’s investment attraction target of 6 trillion KRW, achieving the largest results since Mayor Park’s inauguration, steadily advancing toward becoming a global hub city favorable for business.

Mayor Park Hyung-jun stated, “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. With the early opening of Gadeokdo New Airport and the promotion of Centum 2 Industrial Complex, Busan is an attractive investment destination equipped with a cutting-edge ecosystem based on the 4th industrial revolution.” He added, “Through this briefing session, we will present Busan’s future industrial vision and do our best to attract companies, which is a core task for national balanced development.”

Busan City Hall.