A view of the tape-cutting to open the Incheon Free Economic Zone Expo to attract investments as well as hiring employees held on Nov. 14 at Songdo Convention Center.

A job fair for free economic zones took place in the Incheon Free Economic Zone’s Songdo Convention Center on Nov. 14. Hosted by the IFEZ with the support of the Ministry of Trade, Industry and Energy (MOTIE), some 108 firms attended, hiring 851 employees thru consultation at the fair.

At the Bio Business Hall were 10 firms including Merck, DM Bio and Olympus. Together they hired 34 new employees.

At the 4th Industrial Revolution Business Hall were 15 firms, including Mando Broze and Iris, offering 102 new jobs. At the Tourism Business Hall were five firms such as Paradise, Segashimi and Sheraton Hotel, among others, seeking 155 new employees.

At the UN and International Institute Hall were nine international institutions, such as CGF and A-WEB, seeking employees.

At General Business Hall were 38 firms looking to hire 486 new employees. Public institutions including Incheon City transportation, tourism and environmental organizations were looking to hire 73 new employees.

Also at the fair were seven free economic zone authorities to run public relations booths to attract potential investors.

At the 21st consultation meeting for the heads of the seven free economic zone authorities around the country held before the opening of the job fair, matters that were taken up included reformative growth of the FEZs and related problems. The Incheon FEZ Authority took a leading role at the meeting.

Also held at the meeting was a briefing on the direction of the policies for the 2nd basic plan for the FEZs and the trends for the changes in investment support. The medals for 37 meritorious officers of FEZs around the country were also presented.

Dir.-Gen. Kim Yong-chae of the FEZ Planning Corps of the MOTIE said it is about the time to turn the FEZs into an experimental lot for regulatory reform to build a structure for the ecology for reform thru contacts with universities and research institutes in and out of the country.

MOTIE plans to lead annual consultation meetings for FEZs to promote jobs and reformative projects.

In the meantime, MOTIE held a session with experts in charge of exports for 12 leading companies in Korea, including Samsung Electronics, POSCO Daewoo, SK Networks, and Hanwha on Nov. 13 at the Grand Conference Room of the Korea Trade Insurance Corp.

Chief Lee Won-hee of the MOTIE Export and Import Section led the meeting, along with the clerk in charge, the heads of the Short-term Business Office and Short-term Support Team representing the ministry. The meeting took up such issues as the contribution of the export insurance to exports and the matters to boost the effects.

The meeting was held also to find ways to get support from trade insurance for the diversify of export commodities and markets for the major export firms.

MOTIE announced recently that the optional variable foreign exchange rate insurance for SME exporters launched on Nov. 20 last year and in effect until Nov. 16 will be extended until Dec.31, this year.

The insurance product now had some 97 briefing sessions to some 8,000 SME exporters to make sure that as many of them are aware of the insurance product and take the necessary precautionary measures to protect themselves from foreign exchange losses.

Commissioner Kim Jin-yong of the Incheon Free Economic Zone Authority inspects the IFEZ Expo held at Songdo Convention Center on Nov. 14. (Photos: IFEZ)