China’s cash and tourists are descending upon Busan in their droves.
This is the outcome of the city’s efforts to create a corporate-friendly environment, securing industrial complexes, luring Chinese capital and expanding its customized tourism infrastructure.
Busan Mayor Suh Byung-soo successfully wrapped up his five-day economic visit to China from Nov. 24-29.
During the trip, he visited Beijing, Xi’an and Shanghai, with an itinerary that included the conclusion of an MOU (memorandum of understanding) on cooperation in the movie and visual industry and hosting investment relations and medical tourism seminars.
Busan City inked an MOU worth $20 million with HD Valve, one of the largest Chinese companies in the shipbuilding parts market.
Under the pact, Busan, its native company Chingu and Chinese company HD Valve will establish a new corporation to build production facilities in the foreign investment area in Mieum, Gangseo-gu (district), to produce valve spindles.
HD Valve specializes in producing valve spindles, which are a core component of ship engines.
For the first time as a local government, Busan City aims to create a Korea-China movie fund.
Busan City concluded an MOU with Wanda Group from Beijing, China, regarding “mutual cooperation and development of movie and visual industry.”
Both sides will also team up on the soon-to-be created Tsingtao Film Festival.
Source: Busan City News
The Latest Haps
Busan Subway Lines 1, 2 and 3 have begun emergency services today due to a general strike of the Busan Metro Labor Union.
The city of Busan is looking for public input as they plan to change the look of the city’s buses for the first time in 16 years.
The government is hoping railway services will be running without any major disruption despite a unionized railroad workers’ scheduled strike next week.
The Busan One Asia Festival will have five main K-pop concerts at the Busan Asiad Gymnasium throughout the first 23 days of October.
The Busan International Film Festival has released its main event schedule for this year’s 21st edition. Updates as of September 22, 2016.
Wired magazine has chosen local cartoonist Ryan Estrada’s “Big Data” as one of its top 5 podcasts of the week.
The speed limit on main roads in Busan’s downtown might be lowered to 50 km per hour, which is 10 km less than the previous speed limit.
The 6th Seomyeon Medical Street Festival is starting on September 30th.
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Pei Wei Asian Diner is set to open a location in Busan by the end of 2017 according to a company press release.
McDonald’s Korea has introduced its newest offering, the Chicken Mac.
A new survey by MasterCard shows that Seoul is once again the 10th most popular city for travel in the world.
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While many head to Thailand in search of its magnificent culture, Chiang Mai is a great place to start and one of her best offerings are her awesome temples, known as “Wats”.
North Korea’s goalkeeper gives up one of the worst goals ever — to the opponent’s goalkeeper in an AFC U-16 championship match.
A 29-year-old woman was seriously injured this month when a bungee jump operator failed to secure her rope to the safety hook.
Suyeong-gu Office runs the Stand Up Paddle Board Academy at Gwangalli Beach in September and October.