The Busan-Jinhae Free Economic Zone, which is to celebrate its ninth anniversary this month, is seeking to become the top global business and distribution hub in northeast Asia.

Last year, the BJFEZ induced a total of $220 million in foreign investment, boosted by its growth in the port logistics and high-technology industry, officials said Wednesday.

Its target for this year is to up the amount to $250 million and to evolve into a comprehensive special zone which embraces logistics, financial services and leisure businesses.

“We will select and focus on strategic business types, such as shipbuilding and marine engineering, in order to reinforce our unique competitiveness in the regional market,” said commissioner Ha Myeng-keun.

“Our vision is to become the top global economic zone by year 2020.”

By Bae Hyun-jung (tellme@heraldcorp.com)