The Ministry of Trade, Industry and Energy announced on the 8th that it will hold the '2025 Economic Free Zones Day' event in Busan's Myeongji International City.
The Economic Free Zones Day event commemorates the enactment and implementation of the Special Act on the Designation and Operation of Economic Free Zones on July 1, 2003, and was first held last year in Incheon Songdo. This year, the event will be held for the second time in Busan.
About 120 people, including officials from the Ministry of Trade, Industry and Energy and nine economic free zone authorities, the Korea Trade-Investment Promotion Agency (KOTRA), and the Korea Institute for Advancement of Technology (KIAT), will participate in the event.
The government will award 18 individuals for their contributions to the economic free zone efforts during the event. Additionally, it plans to conduct practical training featuring ▲ lectures on the Economic Free Zones Act and case studies on the development of other special zones ▲ site visits to key facilities and tenant companies in the Busan-Jinhae Economic Free Zone, including Busan New Port and Prestige Biopharma.
Prestige Biopharma is a foreign-invested company engaged in new drug development located in the Myeongji district of Busan, fully funded by Singapore.
Deputy Minister Oh Seung-cheol noted, "The economic free zones also need to play an active role in the new government's economic recovery efforts." He continued, "Considering the regional conditions of the economic free zones, the capital region will be developed primarily for foreign investment," adding that "regions will attract advanced industries to differentiate themselves as hubs for regional development."
Deputy Minister Oh also listened to requests to the government from the administrators during the '2025 First Half Economic Free Zone Authorities' Council Meeting' held earlier.