Bridge for Korea-Japan Economic Exchange... Park Sungho, Head of Busan-Jinhae Free Economic Zone Authority, Promotes Friendly Cooperation with Consul General of Japan in Busan

Japanese Logistics Companies Continue Investments... Busan-Jinhae Free Economic Zone Authority and Consulate General of Japan in Busan Boost Economic Diplomacy
Emerging as a New Hub for Korea-Japan Economic Cooperation in the Busan-Jinhae Free Economic Zone Amid Global Supply Chain Restructuring

On April 21, the Busan-Jinhae Free Economic Zone Authority (Commissioner Park Sungho) visited the Consulate General of Japan in Busan and held a meeting with Consul General Tsuyoshi Otsuka.

Commissioner Sungho Park (right) pledges friendly cooperation with the Consul General of Japan in Busan. Provided by Busanjinhae Coast Guard Administration

This meeting is drawing attention as an opportunity to strengthen cooperation with Japanese companies in the Busan and Gyeongnam regions and to enhance trust between Korea and Japan.

The Consulate General of Japan in Busan plays a central role in promoting diplomatic, economic, and cultural exchanges between Korea and Japan. Consul General Otsuka, formerly of the Japanese Ministry of Foreign Affairs, has maintained a long-standing connection with Korea, having studied at Seoul National University. Since 2022, he has served as Consul General, overseeing five cities and provinces in the southeastern region, including Busan and Gyeongnam.

Commissioner Park Sungho, an expert in Korea-Japan regional exchange who previously served as the Local Cooperation Officer at the Embassy of Korea in Japan, pursued this visit as part of practical "economic diplomacy" amid the ongoing reorganization of global supply chains.

Commissioner Park emphasized, "In times of great uncertainty in the global economy, strategic regional partnerships become even more important," and added, "The Busan-Jinhae Free Economic Zone is the optimal location for Japanese companies to establish an Asian logistics hub."

Currently, 72 Japanese companies are operating in the Busan-Jinhae Free Economic Zone, with cumulative investment reaching $360 million. In particular, additional investments by major logistics companies such as Mitsui Soko Korea, Naigai Busan, and Kokusai Express are accelerating the zone's development as a "global coffee logistics hub" and advancing the "Tri-Port Project."

Commissioner Park Sungho stated, "Whether it is a company building a logistics warehouse or the government easing regulations, it all begins with dialogue with companies," and continued, "I hope the Consulate General will serve as a bridge between outstanding Japanese companies and our free economic zone, and I ask that you continue to share various information and opportunities with us."

In response, Consul General Otsuka said, "Busan and Gyeongnam have maintained close geographical and economic ties with Japan, and I believe there is still much room for further cooperation," adding, "The Consulate General will continue to communicate with relevant companies and organizations."

This year, delegations from Japan's Ministry of Land, Infrastructure, Transport and Tourism and Okayama Prefecture have visited the Free Economic Zone Authority in succession, highlighting the Busan-Jinhae Free Economic Zone as a strategic hub for international logistics and investment. The Authority plans to further strengthen its status as a global supply chain hub and broaden the nation's economic growth engine through continued "on-site diplomacy."