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Busan/Jinhae Office of Free Economic Zone

Busan/Jinhae Office of Free Economic Zone homepage link http://eng.bjfez.net/

Overview of Free Economic Zone

  • Location: The entire area of Gangseogu of Busan Metropolitan city and Jinhae City of Gyeongsang Namdo
  • Total Area: 104.8
  • Target Population: 235,000
  • Operational Expenditure: 8.0266 trillion won (National expenditure: 21,851; Regional expenditure: 28,749; Civilian and Foreign capital: 29,666)
  • Key Functions: Internal operations, cutting edge industry, distribution, education/research, residential function, etc.
  • Established and operates theOffice of Free Economic Zone: Opened in March 2004
    • Establishment Type: Self governing regional cooperative (Busan / Gyeongnam)
    • Key Operation: Development, attract foreign businesses, authorization / licensing
    • Funding Source: Shared between Busan City / Gyeongsang Namdo

Creation of Mieum District

  • Location: The entire region of Mieumdong Gangseogu, Busan Metropolitan City
  • Total Operational Expenditure: 1.0662 trillion won
  • Scale: 360,000
    • Leisure / recreation, residential / support, other

Creation of Songjeong District

  • Location: The entire area of Songjeongdong Gangseogu, Busan Metropolitan City
  • Total Operational Expenditure: 191.4 billion won
  • Scale: 750,000
  • International operation / maritime affairs, residential / support, other

Creation of Myeongji District

  • Location: The entire area of Myeongjidong Gangseogu, Busan Metropolitan City
  • Total Operational Expenditure: 1.5613 trillion won
  • Scale: 447,000
    • Cutting edge manufacture, international operation, leisure / recreation, residential / industry, other

Creation of West Busan Distribution Complex

  • Location: The entire area of Daejeodong Gangseogu, Busan Metropolitan City
  • Total Operational Expenditure: 260.6 billion won
  • Scale: 830,000
    • Transport / distribution, residential / support, public facility

Creation of Hwajeon District

  • Location: The entire area of Hwajeondong, Shinhodong, and Noksandong of Gangseogu, Busan Metropolitan City
  • Total Operational Expenditure: 845.3 billion won
  • Scale: 245,000
    • Cutting edge manufacture, residential / support, park / green area, other