FLUR GROUP signed MOU with Busan city for the creation of ‘Busan Le Freeport Art Town’

- Agreement ceremony was held at the International Protocol Room at Busan City Hall at 09:30 on November 8th... Busan Mayor Park Hyeong-jun and FLUR Group CEO Sung Hyuk-jin attended.

- Willingness to cooperate between organizations in creating ‘Busan Le Freeport Art Town’, a complex cultural facility within the first phase of the North Port project area proposed by FLUR Group

- Administrative support for Busan City to attract global cultural contents such as Le Freeport, École du Louvre, and Hermitage Museum branches.

□ FLUR GROUP, an urban space development and cultural arts content company signed a business agreement with Busan City for the creation of ‘Busan Le Freeport Art Town’ at Busan Metropolitan City Hall on the 8th.


□ 'Busan Le Freeport Art Town' is a facility proposed by FLUR GROUP to the Busan city to be built within the first phase of the Busan Port North Port business district. It is a complex cultural space that goes beyond the concept of a storage, consisting of a variety of cultural contents as well as a culture and arts center,


□ This business agreement was signed to expand the base of the culture and arts industry infrastructure for Busan's North Port redevelopment project, also plans to lead the qualitative improvement of the culture and arts industry by linking the FLUR GROUP's various cultural contents with domestic and foreign art galleries and museums.


□ FLUR GROUP focuses on the global storage brand 'Le Freeport' in the first phase of the North Port redevelopment project area, as well as plan to create a complex cultural space by attracting world-famous art museums and art education institutions, such as the digital branch of the Hermitage in Russia, the Ecole de Louvre and the ISIPCA fragrance School in France, the RADA(Royal Academy of Dramatic Art)in UK, and MI college of comtemporary in US.


□  Le Freeport is a global brand that has evolved a duty-free warehouse into a storage facility for works of art, enabling the preservation, safe storage, and trading of valuables of expensive art pieces. It is currently operating in three locations around the world - Luxembourg Findel Airport, Switzerland's Geneva Station, and Singapore's Changi Airport. In Korea, FLUR GROU has an exclusive license to establish it in Korea.


□ Once this agreement is concluded, Busan City plans to provide various administrative support, including consultation and mediation, with related organizations such as the Ministry of Oceans and Fisheries and the Busan Port Authority to ensure the creation of 'Busan Le Freeport Art Town'.


□ FLUR GROUP CEO Seong Hyeok-jin said, “FLUR GROUP has exclusive contract rights for Le Freeport in Korea, We will utilize this art town project as a starting point to solidify Busan’s advantageous position to host the 2030 World Expo and build its status as a global hub city.” also mentioned “We expect that various synergies will be created by concentrating global cultural facilities in Busan”


□ Busan Mayor Park Hyeong-jun said, “If the ‘Busan Le Freeport Art Town’ built along with the opera house being built in the first phase of the North Port business area, The synergies will occur due to the concentration of cultural facilities.” He added, “A variety of facilities have setting up, Our city will provide administrative support so that the expected effects can be generated in the Busan community, such as attracting foreign capital and creating various local jobs due to the opening of foreign cultural content brands” .