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Full steam ahead: Jae-soo Chun takes the helm
Busan Mayor Jae-soo Chun expressed his determination to establish Busan as a new growth hub for Korea.
On July 1, Jae-soo Chun took office as Busan's 40th mayor. His administration has two priorities: improving residents' lives and advancing Busan as a maritime capital.
His first 100 days will focus on stabilizing the local economy, including fuel cost support for small truck owners, energy vouchers for small business owners and support for delivery and card fees. He will also expand public-sector employment.
Looking ahead, the administration will strengthen Busan's maritime economy, anchored by its port and ocean industries. Mayor Chun's mantra has been "the maritime capital of Busan," and the city will leverage its location and infrastructure to draw maritime institutions and companies.
As Minister of Oceans and Fisheries, Chun moved the entire ministry to Busan. HMM, the nation's largest container shipping company, will follow and relocate its headquarters to the city. The administration also hopes to attract core public institutions such as the Korea Maritime Transportation Safety Authority and the Korea Marine Environment Management Corporation, and to anchor a new Southeastern Investment Corporation - a state-backed fund expected to inject billions of dollars into the regional economy.
Officials also expect to open the Busan Maritime International and Commercial Court in 2028 to handle maritime civil and administrative cases as well as international commercial ones. The court would help Korean firms save millions of dollars a year they now spend in extra legal fees settling maritime disputes abroad.
By linking shipping, logistics and maritime finance and law, the city aims to build an integrated ecosystem poised to benefit from emerging Arctic shipping routes and to become a leading maritime hub in Northeast Asia.
Artificial intelligence and tourism will also shape Busan's growth. The city plans to turn western Busan into a hub for AI-driven manufacturing, lifting local industries through advanced technology. Tourism, meanwhile, will expand beyond the usual hotspots into the historic city center and western Busan. By drawing visitors across a wider area and encouraging longer stays, the city hopes to spread tourism's benefits more evenly.
That push serves a larger goal: strengthening Busan's standing as a global city. By developing its maritime industries, tourism and technology sectors, Mayor Chun aims to attract more foreign investment, deepen international exchange and foster an environment where visitors and foreign residents alike feel welcome.
Alongside its economic agenda, the administration is working to govern more closely with residents. The city plans to reflect citizens' views in its policies and budgets, and to favor measures that produce changes people can feel in daily life.
Creating a city where young people can build their futures is another priority. Busan will widen support for employment, entrepreneurship, housing and culture. Branded the "Youth New Deal," the plan would see the city hire young people directly and place them with local firms in maritime shipping and renewable energy. The aim is straightforward: an environment where talented people put down roots and businesses thrive.