Busan City hosts business presentation, hoping for economic growth

Busan Metropolitan Government has signed memorandums of understanding with businesses on investments worth 360 billion won ($293 million), the city said Monday.

According to the local government, the city hosted a conference in central Seoul to promote business opportunities in the southern port city to corporations located in Greater Seoul.

Through the event, it signed memorandums with four corporations, including digital shopping platform SSG.com, which is owned by retail conglomerate Shinsegae Group, semiconductor tech firm Trinno Technology, automotive parts manufacturer Uni Tekno and cloud-optimized tech firm Megazone Cloud.

The city said it garnered investments worth 360 billion won through the agreements with the prospects of hiring 1,500 new employees in the area.

“Busan will flourish with its attractive environment, human resources, its infrastructure as a global port city, complete with the buildup of a smart supply chain, the Busan Eco Delta Smart City project, the new Gadeok International Airport and the 2030 Busan World Expo,” Busan Mayor Park Heong-joon said.

“We will strive to make Busan rise as an ‘economic city,’ where small and medium-sized enterprises and colleges can grow together, attracting global and future-oriented businesses.”

The Busan Metropolitan Government said it attracted 23 global businesses last year, creating jobs for more than 8,400 people, with 3.6 trillion won in investments.