35.1 Billion KRW First Supplementary Budget for 2025 Finalized
Enhanced Investment Attraction, Promotion, and Corporate Support... Boosting the Local Economy
The Busan-Jinhae Free Economic Zone Authority (Commissioner Park Seongho) has formulated the first supplementary budget for 2025, amounting to 35.1 billion KRW, to launch a proactive campaign in the global investment attraction market and support the stable growth of resident companies.
This supplementary budget was finalized at the 145th temporary session of the BJFEZ Union Meeting held on May 12.
The supplementary budget has been prioritized to enhance global competitiveness and revitalize the local economy, with a focus on key projects for attracting foreign investment and driving innovative growth.
In particular, to minimize the financial burden, the supplementary budget utilizes previously unused funds, thereby allowing the Authority to maintain fiscal soundness while pushing forward with necessary projects.
With this supplementary budget, the Authority will significantly increase (by 53.2%) the budget allocated to domestic and international media promotions, new media campaigns, and investment attraction branding content, launching an aggressive campaign targeting global investors and domestic reshoring companies.
Additionally, the budget for investment attraction activities has been significantly increased (by 54.1%) to proactively secure key investment demand in advanced industries as well as the service port and logistics sectors.
Furthermore, the Authority announced the creation and implementation of a new corporate support budget to ensure the stable growth of resident companies and stimulate the local economy.
Major projects include the ▲BJFEZ Job Fair to support corporate promotion, address workforce shortages, and create local jobs; the ▲BJFEZ Corporate Field Forum to facilitate mutual development through sharing best practices and building cooperative networks among companies; and the ▲Visiting Corporate Consulting Team project, which offers tailored solutions for businesses in areas such as management, law, and taxation.
Commissioner Park Seongho stated, "This supplementary budget is an important foundation for advancing the Busan-Jinhae Free Economic Zone as a hub for advanced industries and global logistics," adding, "We will do our utmost to contribute to revitalizing the local economy and creating jobs through proactive investment attraction and corporate support activities."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
