Busan is good

Discussion on Busan Metropolitan City’s Strategy for Attracting the Second Phase of Public Institution Relocation from the Seoul Metropolitan Area

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□ Busan Metropolitan City Mayor Park Heong-joon announced that, in order to establish the City’s strategies and response measures for the government’s second-phase relocation plan for public institutions in the Seoul metropolitan area, the City will hold a joint meeting of relevant departments today (18th) at 10:00 a.m. in the 26th-floor conference room of City Hall. The meeting will be chaired by Vice Mayor for Future Innovation Seong Heui-yeob and organized by the Public Institution Relocation Task Force (TF).

○ Following the selection of the second-phase public institution relocation as a national policy task and in accordance with the guidelines announced by the Presidential Committee for Balanced National Development*, the City will discuss strategies to proactively respond to the upcoming relocation.

* Presidential Committee for Balanced National Development, “Master Plan for Advancing the Era of Local Regions (2025.9)”; (Public Institution Relocation) Begin preliminary relocation procedures for five public institutions in 2025, complete final relocation planning in 2026, and start phased relocations of additional institutions from 2027.

□ Today’s meeting was organized to review the activities carried out to date, comprehensively examine recent trends in government and ministerial-level initiatives as well as responses from other cities and provinces, and, based on this assessment, further refine the City’s strategy for attracting the second-phase relocation of public institutions.

○ During the meeting, the City will examine potential candidate institutions within its designated functional clusters—finance, maritime, and film/video—for the second-phase relocation, and it will also discuss additional institutions that should be identified in consideration of Busan’s industrial competitiveness and future growth sectors.

○ To prepare for this TF meeting, relevant departments conducted on-site visits to central ministries and candidate institutions to gather information on current developments, enabling the formulation of more practical and actionable relocation strategies.

□ The meeting will also include a progress update from the Busan Development Institute on its ongoing research, “Analysis of the Necessity and Impact of Attracting Candidate Institutions for the Second-Phase Relocation of Public Institutions.”

○ As discussions on the second-phase relocation accelerate, the City commissioned the Busan Development Institute earlier this month to conduct research to secure foundational data necessary for establishing attraction strategies.

□ Meanwhile, to effectively respond to the second-phase relocation of public institutions, the City has been operating the Public Institution Relocation Task Force since 2023 under the leadership of the Vice Mayor for Future Innovation.

○ In particular, the City established specialized teams—the Public Institution Relocation Team, the Financial Institution Relocation Team, and the Ministry of Oceans and Fisheries Relocation Support Team—to actively promote the necessity of relocating candidate institutions to Busan to relevant ministries and organizations while also monitoring related developments.

○ On October 28, the TF also held a working-level meeting to discuss attraction strategies and priority target institutions for the second-phase relocation.

□ Vice Mayor for Future Innovation Seong Heui-yeob stated, “The relocation of public institutions is no longer a regional initiative but a survival strategy of the government aimed at creating new national growth engines through balanced national development. Building on the strong evaluations Busan received during the first-phase relocation, we will ensure that the second-phase relocation of public institutions proceeds seamlessly following the successful relocation of the Ministry of Oceans and Fisheries.”