Busan said on the 24th at city hall that it will sign investment memorandums of understanding with four corporations, including eco-friendly shipbuilding equipment, renewable energy and manufacturing artificial intelligence (AI) corporations.
At the signing ceremony, Park Heong-joon, the mayor of Busan, Hwang Oe-yeol, CEO of S&SYS, Seong Su-gyeong, CEO of Heriana, Son Sang-ho, CEO of Now ENT, and Lee Min-bong, CEO of Kristin Company, will attend and sign the memorandums of understanding.
The city estimated that the four corporations will invest 44 billion won in Busan, creating a total of 193 jobs, including new hires.
S&SYS is a corporation specializing in eco-friendly shipbuilding and marine equipment and was recently listed on KOSDAQ. Its headquarters are in Hwaseong, Gyeonggi, but in 2021 it transferred its manufacturing plant from Haman, South Gyeongsang, to Busan. Heriana is a manufacturing corporation in ship temperature sensors, navigation equipment and measuring instruments, and decided to relocate and expand by integrating its headquarters and plant to Gangseo District's Eco Delta City (EDC) to enter a new line of business.
Now ENT is a corporation specializing in manufacturing solar power plants. It is a strong small corporation in the renewable energy sector with competitiveness through its in-house design and assembly system. Kristin Company, which runs an AI-converged shoe manufacturing platform, is a shoes tech corporation leading the digital transformation (DX) by fusing advanced technology into the offline-centered shoe manufacturing industry.
The city plans to use this investment attraction as a springboard to accelerate digital innovation in regional flagship industries such as shipbuilding and shoes.
Mayor Park Heong-joon said, "Corporations with eco-friendly energy and AI technologies, which are the future growth engines, choosing Busan proves the city's growth potential," adding, "We will spare no administrative and financial support so they can grow into global corporations in Busan and become a strong pillar of the local economy."