Achieving 213% of Foreign Investment Target and Normalization of Ungdong District 1
"Transforming the Structure of the Free Economic Zone"
Busan-Jinhae Free Economic Zone Authority (Commissioner Park Sungho) has announced the 'Top 10 Best Policies for 2025,' encapsulating the year's policy achievements and signaling the start of visible changes across investment, development, and the overall residential environment.
Busanjin-Haeundae Free Economic Zone Authority announces the 'Top 10 Best Policies for 2025'. Provided by Busanjin-Haeundae Free Economic Zone Authority
The selected Top 10 policies are not simply a list of initiatives; rather, they are structured around three key pillars of achievement: normalization of long-stalled development projects, attraction of foreign investment, and the establishment of a foundation for future growth.
These policies were chosen through a comprehensive discussion and a vote involving all employees, based on their actual impact and how they are perceived on the ground.
The most notable achievement is the creation of a foundation for mid- to long-term growth through the expansion of the free economic zone. The authority proactively identified new candidate sites for the free economic zone in the Busan and Gyeongnam regions, such as the Triport Integrated Logistics District and the Jinhae New Port hinterland complex. It also clarified the direction for establishing new investment hubs by concretizing plans for large-scale development that links ports, airports, and railways.
The normalization of the Jinhae Ungdong District 1 development project, which had been stalled for years, also marked a turning point. By designating an alternative project developer, signing new agreements, and having Gyeongnam Development Corporation acquire the golf course, the authority resolved legal and administrative disputes, thereby laying a practical foundation for the project's resumption.
The achievements are also evident in the numbers. In 2025, the amount of foreign investment attracted reached 380 million dollars, achieving 213% of the annual target and once again demonstrating the investment appeal of the Busan-Jinhae Free Economic Zone. Additionally, the authority received the highest grade (S grade) for four consecutive years in the Ministry of Trade, Industry and Energy’s Free Economic Zone performance evaluation.
There have also been changes in the way companies are supported. Through on-site, close communication known as 'Team Doctor Administration,' the authority has established a system for directly listening to and resolving the concerns of tenant companies. By sharing policy information through forums and site tours, the authority has been recognized for providing practical support for corporate growth.
Improvements in the residential environment are also noteworthy. The start of construction on apartments in the Jinhae Dudong District, which had been delayed for six years, the attraction of a large general hospital to the Myeongji District for the first time in 21 years, and the establishment of an international school and British Cultural Village have all contributed to transforming the free economic zone from merely a 'place to work' into a 'place where people want to live.'
In addition, the normalization of the Jinhae Bobaegi District integrated logistics hub development and the designation of additional core strategic industries for integrated logistics have further strengthened the logistics competitiveness of the Busan Port and Jinhae New Port hinterland. With the establishment of the largest industrial code system among all free economic zones in Korea, the concentration of logistics companies and the expansion of the strategic industry ecosystem are anticipated.
Commissioner Park Sungho stated, "These Top 10 Best Policies are not short-term achievements, but the result of efforts to fundamentally transform the free economic zone," adding, "Through performance-oriented and field-oriented policies, we will strive to elevate the free economic zone to a globally competitive level."
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