The Korean-German Chamber of Commerce and Industry (KGCCI, President & CEO Marie Antonia von Schönburg) and the Busan-Jinhae Free Economic Zone Authority (BJFEZ, Commissioner Park Seong-ho) signed a new Memorandum of Understanding on August 20 at KGCCI office in Seoul, renewing and expanding a partnership that dates back to 2009.
The agreement was signed by KGCCI President & CEO Marie Antonia von Schönburg and BJFEZ Commissioner Park Seong-ho, with roughly ten representatives from both organizations in attendance.
Under the MoU, KGCCI and BJFEZ will work together to identify German companies with investment interest in the Busan-Jinhae Free Economic Zone, share information on the zone's industrial and logistics advantages with KGCCI's member network, and support German firms through their investment review, market entry, and business operations in Korea. The two organizations will also jointly organize investment briefings, forums, and business matchmaking, and exchange insight on industry trends, incentives, and site conditions.
The renewed partnership builds on results already visible on the ground: German companies including Bosch Rexroth Korea and Wilo Pumps Korea have established operations within the free economic zone, supported in part by the Busan German Business Council's network of local firms.
"Busan and Jinhae offer German companies business opportunities, backed by strong industrial infrastructure and logistics capacity," said Marie Antonia von Schönburg, President & CEO of KGCCI. "We share Commissioner Park Seong-ho's vision for this partnership, and we look forward to working together so that this agreement leads to tangible investment outcomes for both sides."
Park Seong-ho, Commissioner of BJFEZ, added: "This MoU will serve as a platform for expanding our network with German companies and investors. BJFEZ is committed to providing administrative and settlement support throughout the investment process, so that German companies can invest and grow here with confidence."
The MoU reflects KGCCI's ongoing commitment to strengthening Korea-Germany economic ties beyond Seoul. Since its founding in 1981, KGCCI has supported German companies' market entry and expansion across Korea's regional economic zones, and its partnership with BJFEZ adds a dedicated channel for investment into the country's southern industrial and logistics corridor.