BUSAN, South Korea — On September 14 2012, Busan-Jinhae Free Economic Zone Authority and the Department of Commerce of Zhejiang Province, China signed an Economic Cooperation MOU at Convention Center in Zhejiang Province, China.
This MOU is a follow-up to the visit of Commissioner Ha of BJFEZ to Zhejiang Province in April 2012. After four months of negotiations on the issue of mutual investment, and cooperation to improve the two regions economic development.
The primarily industries of Zhejiang province consist of machinery, electronics, IT, petrochemicals, and the number of private companies are about 520,000 and they are driving the local economy. Especially Wenzhou area in Zhejiang province is well known as the hub of the commercial supremacy and real estate market of China.
After the MOU signing, Busan-Jinhae Free Economic Zone Authority attended a Business Week Convention, which was held in Zhejiang Province on Sep. 14-15 and operated a promotional booth to offer Chinese companies individual investment consultations.
Since this MOU is expected to play a role of bridgehead to attract Chinese investment, BJFEZ will aggressively perform PR activities toward both public and private sectors of China.