Busan is good

Busan City Holds “On-Site Mentoring B.I.G Partner Day”

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The Busan Metropolitan City (Mayor Park Heong-joon) announced that it will hold the “On-Site Mentoring B.I.G (Busan Infrastructure Growth) Partner Day” on June 19 at 5:00 PM near Seomyeon, aimed at fostering win-win networks between large-scale construction sites and Busan’s specialized construction companies.

○ In response to the ongoing downturn in the construction industry and funding challenges, the City of Busan established a “Subcontract Order Expansion Plan” in February.

○ This networking event is part of the plan to promote cooperation and communication between the public and private sectors, revitalize the local construction industry, and expand subcontracting opportunities. It is the second annual event following last year’s.

The event brings together over 120 participants, including city officials, field managers from 14 major construction firms representing 20 large-scale sites in Busan, 57 specialized construction companies, and five local construction associations. They will exchange construction industry information and discuss strategies to increase subcontracting and support for Busan-based companies.

○ Participating major construction firms include:

• ●Dongwon Development Co., Ltd.

• ●DL Construction

• ●POSCO E&C

• ●Kumho E&C

• ●Lotte E&C

• ●Daewoo E&C

• ●Hyosung Heavy Industries

• ●Hyundai Development Company

• ●Daekwang Construction

• ●Hyundai E&C

• ●DL E&C

• ●Samhan General Construction

• ●Yurim General Construction

• ●Dongil Suite
  (Total project budget: KRW 9.09 trillion)

During the “On-Site Mentoring B.I.G Partner Day,” hosted by the City, site managers from large construction companies will act as mentors, offering practical advice and insights. Specialized construction companies will act as mentees, promoting their businesses and enhancing their capabilities.

○ Through face-to-face consultations, subcontractors will promote their strengths to preferred large firms. Meanwhile, site managers will use the mentoring sessions to identify and connect with suitable local subcontractors for their projects.

Lim Kyung-mo, Director General of the Urban Innovation and Balance Office, stated, “In the face of ongoing construction market stagnation due to economic uncertainty, high interest rates, and unsold housing inventory, we hope this event provides an opportunity for specialized construction companies in Busan to explore sustainable growth strategies and new pathways.”