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For Busan’s Leap Toward Becoming a Global Maritime Hub City Busan Metropolitan City Holds First Meeting of the “Shipping Company Relocation Promotion Committee”

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Busan Metropolitan City held the inaugural meeting of the Shipping Company Relocation Promotion Committee at 2:00 p.m. on October 21 at City Hall. The committee was formed to successfully promote the relocation of major shipping companies, including HMM, to Busan. It consists of 20 members representing the city government, the Busan Chamber of Commerce and Industry (BCCI), academia, industry, research institutions, and relevant associations.

Mayor Park Heong-joon and Yang Jae-saeng, Chairman of the BCCI, serve as co-chairs of the committee. The members include heads of organizations and associations expected to contribute to the development of effective incentives for corporate relocation and the creation of a collaborative ecosystem after the relocation of shipping company headquarters.

At the first meeting, the committee shared the progress and future plans of Busan Metropolitan City regarding the relocation of shipping companies, reviewed the economic impact of relocating HMM’s headquarters to Busan as analyzed by the BCCI, and discussed policy suggestions, institutional opinions, and practical incentives and support measures to encourage relocation.

Based on the opinions presented at the meeting, the city plans to closely coordinate key policy issues—including corporate site selection and living conditions for relocated employees—through joint policy councils involving Busan Metropolitan City and the Ministry of Oceans and Fisheries.

In addition, prior to the Ministry of Oceans and Fisheries’ announcement of the HMM relocation roadmap, the city will develop a concrete action plan for the relocation of HMM and other major shipping companies, while strengthening the shipping, port logistics, finance, and industry-academia cooperation clusters centered around Busan Port. This step-by-step plan aims to help Busan take a major leap forward as a truly global maritime hub city.

To this end, Busan Metropolitan City will proactively prepare policy support measures, tax benefits, and customized incentives for large shipping companies such as HMM and their employees. It will also establish a maritime-industry-academia cooperation cluster and an industrial development plan to maximize the positive economic ripple effects of corporate concentration following the relocation of HMM’s headquarters.

Through the launch of this committee, the city expects to strengthen the competitiveness of its maritime and port industries, create new local jobs, revitalize the regional economy, and serve as a catalyst for forming a Southern Coast Maritime Economic Belt—positioning Busan as the central pillar of Korea’s maritime economy.

At the meeting, Mayor Park Heong-joon stated, “The relocation of large shipping companies to Busan marks a pivotal turning point that will solidify Busan’s status as Korea’s maritime capital and lead the city toward becoming a global hub. By integrating Busan’s solid foundation in marine and shipping industries with diverse functions such as policymaking, corporate investment, human resource development, and R&D, this relocation presents an excellent opportunity to advance as a global maritime and port city.”

He added, “Busan Metropolitan City and the Busan Chamber of Commerce and Industry, in close cooperation with the central government, industries, and research institutions, will devote every effort to ensure that shipping companies can settle stably in Busan and that Busan grows into a world-class maritime hub city.”