IRVINE, Calif., Nov. 3, 2011 /PRNewswire/ -- The Irvine Chamber of Commerce, and the Busan-Jinhae Free Economic Zone Authority (BJFEZ) signed a Memorandum of Understanding on Oct. 19th, which will strengthen ties between the two regions. The signing took place at the Irvine Civic Center in front of Mayor Sukhee Kang, himself from Seoul.
"Both sides are putting the mechanisms in place to take advantage of the boom in trade following the passage of the Free Trade Agreement," Stated Christopher Lynch, VP of Business & Economic Development at the Irvine Chamber. He also added, "This deal will be worth of billions of dollars in annual trade... we are hoping for a quick implementation of the treaty so we can begin our path to economic growth."
The BJFEZ visit was part of a three-city tour, which also included Washington D.C. and Philadelphia. Irvine was the final stop before returning to Korea. The Korean delegation was led by Myeung Keun Ha, Commissioner of the BJFEZ Authority. The BJFEZ represents a specific area which covers a 83.1 sq km area with a population of 243,000, and is dedicated to providing the best environment for business and living to attract leading multinational companies, and businesses to make Korea the business hub for the Northeast Asia region.
About the Irvine Chamber of Commerce
The Irvine Chamber of Commerce is one of the most influential Chamber's in Orange County representing hundreds of local businesses. The Chambers mission is to promote an economic climate that strengthens the competitiveness of local businesses, while offering members a wide range of benefits, services, programs and information. The Irvine Chamber is one of only 250 Chambers in the U.S. who meet the requirements for accreditation by the U.S. Chamber. For more information, please call 949-660-9112, or visit www.irvinechamber.com.
SOURCE Irvine Chamber of Commerce