Busan Jinhae Free Economic Zone Authority and European Chamber of Commerce in Korea Strengthen Cooperation for Investment Attraction

Andrew Millard of the ECCK Visits the Busan-Jinhae Free Economic Zone Authority
Discusses Investment Cooperation with European Companies
Park Sungho: "Expanding Exchanges in Technological Cooperation and High Value-Added Industry Attraction Is Essential"

The Busan-Jinhae Free Economic Zone Authority (Commissioner Park Sungho) announced on the 14th that Andrew Millard, head of the European Chamber of Commerce in Korea (ECCK), visited the Authority.

Head of the European Chamber of Commerce in Korea Visits Busanjin-Hae Economic Free Zone Authority. Provided by Busanjin-Hae Economic Free Zone Authority.

This visit was arranged to introduce the excellent investment environment and development direction of the Busan-Jinhae Free Economic Zone and to explore ways to expand cooperation with European companies. During the visit, Andrew Millard shared opinions on areas of interest for European investors and ways to overcome entry barriers, and engaged in in-depth discussions on the potential for linking with the strategic industries of the Busan-Jinhae Free Economic Zone.

The European Chamber of Commerce in Korea, established in 2012, is one of the foreign economic organizations in Korea representing the interests of companies from the European Union (EU), European Free Trade Association (EFTA), United Kingdom (UK), and other European countries, with the aim of promoting economic exchanges between Korea and the EU. The Busan branch is actively supporting European companies in the region and expanding networking, currently boasting over 400 member companies. It also represents the positions of European companies through various annual business events and regulatory and policy activities.

Notably, major European global companies such as MSC, the world’s leading shipping company, Renault, Bosch Rexroth, and Wilo Pump are actively operating in the region. Since the establishment of the Authority, the cumulative investment from European companies has reached $1.53 billion, accounting for about 32% of total foreign investment, ranking first among all continents. This demonstrates that the Busan-Jinhae Free Economic Zone has firmly established itself as a strategic base for European companies entering Asia.

So far, the Authority has continued its global investment attraction efforts by holding investment briefings for ECCK member companies, promoting the investment environment and tailored support measures of the Busan-Jinhae Free Economic Zone.

Going forward, the Authority plans to maintain its strong cooperative relationship with the ECCK, not only building ongoing relationships with European companies but also making multifaceted efforts to enhance the region’s global competitiveness. In addition, it will continue activities to attract promising companies and expand investment through practical support programs such as one-on-one customized investment consultations and global promotional activities.

Commissioner Park Sungho stated, "This visit holds significant meaning in terms of expanding exchanges with European companies, technological cooperation, and attracting high value-added industries," adding, "Based on this meeting, we will do our utmost to further strengthen our network with the ECCK and European companies and achieve tangible results in attracting investment."