Korean Port City of Busan to Host Investment Forum in New York City – June 14, 2005

Business/Government/Assignment Editors

NEW YORK -- May 25, 2005

The Busan Port Authority (BPA), Busan-Jinhae Free Economic Zone Authority (BJFEZA) and the Korea International Trade Association (KITA) invites internationally-focused investors, executives, financial and service professionals, journalists and other interested individuals to attend the first Busan North American Investment Forum.

Information concerning the program agenda, registration and other details can be accessed at http://www.kwrintl.com/busan or by contacting busan@kwrintl.com.

This meeting will be held without charge on June 14, 2005 from 9:00 AM-2:00 PM at the Waldorf Astoria Hotel, located at 301 Park Avenue (between 49th and 50th streets) in New York City. Admission will be granted on a space available basis, with preference given to investors and executives who are active in the transportation, logistics, distribution, technology and manufacturing industries. Advance registration is encouraged and advised.

Supporting organizations and publications for this event include the Korea Society, The Manhattan Chamber of Commerce, Asia Times, Business Facilities, The Journal of Commerce, and The KWR International Advisor.

Strategically located on the southeastern tip of the Korean peninsula, Busan is the second largest city in Korea. It is a thriving metropolitan center, with approximately 3.7 million inhabitants. Busan’s deep harbor and gentle tides have transformed it into the largest port in the country – handling 80% of total Korean container volume -- and the third largest transshipment container facility in the world. The creation of the Busan-Jinhae Free Economic Zone in March 2004 – a 25,000 acre complex that includes Busan New Port, the Busan Science and Industrial Park and a range of other facilities – now offers foreign corporations and investors a range of tax and other incentives, further accentuating Busan’s attractiveness as a business and investment destination.

"The Port of Busan has served as the primary exit point for Korean exports for over five decades and plans are now underway to strengthen its position as one of the world’s most important distribution platforms," noted Mr. June-Suk Choo, President of the Busan Port Authority. "The BPA was founded in 2004 to lead this initiative and to develop the infrastructure that will maximize supply chain efficiencies and the international competitiveness of both Korean and foreign firms who utilize our facilities.”

"Koreans have come to understand our future depends on our ability to attract strong foreign companies and direct investment flows, and the Busan-Jinhae Free Economic Zone was one of three created as a result" commented Mr. Chang Soo-man, Commissioner of the Busan-Jinhae Free Economic Zone Association. "This allows us to offer foreign companies a range of attractive tax and other incentives as well as access to one of the world’s largest and most efficient port facilities and numerous nearby consumer and industrial markets.

“The Busan delegation is visiting New York within a more decentralized environment in which Korean cities and provinces are moving to develop their competitive advantages and to reach out directly to targeted companies and investors,” stated Mr. Woo-won Lee, Managing Director of the Korea International Trade Association. “This event is designed to provide participants with an overview of the Korean economy and to allow for one-on-one meetings with prominent business and government leaders from Busan, Korea’s leading transportation, shipping, logistics and industrial center.”

To register to attend the Busan North American Investment Forum, or to obtain more information, please visit http://www.kwrintl.com/busan or visit the contact noted below.

Contact: Keith Rabin
KWR International Inc.
Tel +1-212-532-3005
Fax +1-212-685-2413
busan@kwrintl.com

This material is published and disseminated by KWR International, Inc. on behalf of the Korea International Trade Association (KITA). Additional information is on file with the Department of Justice, Washington, D.C.