Busan is good

Busan to Convene the “2025 One-Stop Investment Support Council”

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Busan Metropolitan City (Mayor Park Heong-joon) announced that it will hold the “2025 One-Stop Investment Support Council” at 10:00 AM today (June 26) in the City Hall Main Conference Room to discuss the “One-Stop Business Investment Support Plan” with representatives from related agencies and companies.

The Council, comprising 13 institutions*, was established in June 2024 to build a collaborative framework that offers comprehensive one-stop services throughout the investment lifecycle, with the goal of establishing a seamless investment environment.
*Members: Busan Metropolitan City, Busan Chamber of Commerce and Industry, Busan-Jinhae Free Economic Zone Authority, Haeundae-gu, Saha-gu, Gangseo-gu, Gijang-gun, Korea Electric Power Corporation, Korea Water Resources Corporation, Korea Land and Housing Corporation, Korea Industrial Complex Corporation, Busan Port Authority, Busan Urban Corporation

In response to rapidly changing trade environments and other domestic and global challenges, the Council aims to support swift realization of regional business investments and foster an investment-friendly climate. Through this, the city seeks to attract large-scale anchor investments and induce follow-on investments from partner companies, thereby creating quality jobs and revitalizing the local economy.

The “One-Stop Business Investment Support Plan” to be discussed at the meeting includes 21 initiatives across four areas, all designed to enhance regional economic innovation through the creation of a business-friendly investment environment. These areas are: ▲Strengthening the one-stop business support system ▲Supporting the swift operation of large-scale investment sites ▲Bold corporate regulatory reform ▲Enhancing administrative capabilities and disseminating outcomes.

[1. Strengthening the One-Stop Business Support System]
The city will improve its customized one-stop support for businesses by:

• ●Operating the One-Stop Investment Support Council more effectively

• ●Expanding the number of dedicated officials (Project Managers, PMs) for major investment projects

• ●Appointing dedicated officials for business support

• ●Enhancing operations of the One-Stop Business Support Center

• ●Dispatching business policy cooperation officers to the Busan Chamber of Commerce and Industry

These efforts aim to create a more favorable business environment through a Busan-style one-stop support system.

• ●The Council and its working-level support team will strengthen inter-agency cooperation to quickly resolve various challenges businesses face during the investment realization process.

• ●The number of PMs assigned to major investment sites, recognized as a best practice nationwide in October 2024, will increase from four to eight companies.

• ●Dedicated officials will be designated for three regional zones to swiftly address company challenges. Additionally, PMs will be assigned to approximately 30 of Korea’s top 1,000 companies headquartered in Busan to facilitate direct communication and hands-on support.

• ●The One-Stop Business Support Center, relocated to the Busan Chamber of Commerce and Industry in September 2024, will be revitalized through proactive public-private company visits tailored to regional economic conditions.

• ●Furthermore, a city-affiliated business policy cooperation officer will continue to be stationed at the Busan Chamber of Commerce and Industry to reinforce organic collaboration in addressing regional issues.

[2. Supporting the Swift Operation of Large-Scale Investment Sites]
Dedicated officials will be appointed to major investment projects, and customized strategies will be implemented to promptly eliminate obstacles to investment realization.

• ●Four companies designated in July 2024—Renault Korea (EV development), Geumyang (secondary battery plant construction), IQ Lab (power semiconductor plant construction), and Oriental Precision & Engineering (R&D campus construction)—will be joined in 2025 by four additional firms: DN Automotive, Nongshim, LS Electric, and B2G, receiving personalized support through dedicated officials.

• ●DN Automotive, which focuses on automotive vibration control and battery production, plans to build an advanced battery manufacturing facility in the East Busan Industrial Complex in Gijang-gun. The city will minimize licensing procedures to ensure stable power supply and fast plant activation.

• ●Nongshim plans to complete a new export-focused plant at its Noksan facility by late 2026. The city is actively seeking solutions for anticipated power supply issues through close coordination with relevant agencies.

• ●LS Electric is investing KRW 108 billion to expand its high-voltage transformer production plant in Gangseo-gu by September. The company previously faced delays in securing temporary construction access permits, but the issue was resolved through Mayor Park’s on-site visit and the city’s one-stop support system.

• ●B2G is constructing a next-generation power semiconductor plant using gallium nitride (GaN) in the Southeast Radiation and Biomedical Science Cluster. To ensure stable operations, solutions for electricity and industrial water supply are needed. The city will work with related agencies to expedite power grid upgrades and new substation construction, while industrial water needs will be met through integrated use of seawater desalination and wastewater reuse systems.

[3. Bold Corporate Regulatory Reform]
The city will eliminate various regulations that hinder corporate management activities by:

• ●Conducting on-site visits and communication sessions

• ●Operating a dedicated regulatory review period

• ●Investigating unresolved long-term regulations

• ●Promoting a shift toward negative regulatory approaches

• ●Launching public-private regulatory task forces and corporate-focused regulatory reviews

Identified issues will be addressed through:

• ●Corporate Regulatory Reform Working Meetings

• ●Public-Private Regulatory Reform Councils

• ●Active use of pre-consultation audits

Through a governance framework, the city will finalize reform plans, designate dedicated regulatory reform officials, and conduct joint field visits to swiftly resolve regulatory barriers.
Progress on these reforms will be regularly assessed and improved to ensure meaningful outcomes.

[4. Enhancing Administrative Capacity and Performance Dissemination]
The city will improve its professional administrative capacity to better support business investment and widely communicate its achievements to foster tangible changes that businesses and the local community can directly experience.

• ●To this end, the city will publish a One-Stop Business Support Manual, host workshops for officials, and establish related training programs at the Human Resources Development Institute to enhance practical skills across the investment process.

• ●Using various promotional channels, the city will highlight key achievements in corporate support and regulatory reform, while amplifying the positive impact experienced by companies and communities alike.

Mayor Park Heong-joon emphasized,
“Corporate investment is a core driver of innovative regional growth. I urge all participating institutions, including the city government, to collaborate in creating a favorable business environment that attracts both domestic and global companies and enables large-scale investments to grow significantly.”

He added,
“We will fully implement the One-Stop Business Investment Support Plan and focus our efforts on boldly reforming regulations that hinder investment, to make Busan a city where businesses actively choose to invest and settle.”