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Finding Solutions by Staying Close to Businesses… Busan Metropolitan City Holds the 2nd Corporate Innovation Growth Relay Roundtable

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Busan Metropolitan City announced that Mayor Park Heong-joon will hold the “2nd Corporate Innovation Growth Relay Roundtable” today (18th) at 3:00 p.m. at the Video Room on the second floor of the Busan Vocational Competency Development Institute of the Korea Employment Agency for the Disabled, located within the Jeonggwan Industrial Complex in Gijang-gun, together with tenant companies from the Myeongrye and Jeonggwan Industrial Complexes.

The roundtable will be attended by Mayor Park Heong-joon; City Council Member Lee Seung-woo; Choi Soon-hwan, Chairman of the Myeongrye General Industrial Complex Management Corporation; Noh Eung-beom, Chairman of the Jeonggwan General Industrial Complex Resident Company Council; and 27 representatives from companies within the Myeongrye and Jeonggwan Industrial Complexes.

This roundtable marks the acceleration phase of the “Busan-type Corporate Innovation Growth Relay Roundtable,” which began on October 16 at the Jangan Industrial Complex. The initiative aims to expand communication with businesses across the city, reflect the voices of the field in policymaking, and translate them into action.

The roundtable will cover a broad range of challenges and issues encountered by local companies. In particular, participants will discuss practical measures to simultaneously improve operational efficiency and enhance worker welfare by addressing matters such as improving working environments and resolving parking shortages. The city plans to explore improvements that incorporate on-site feedback.

Through these efforts, Busan Metropolitan City aims to strengthen the competitiveness of industrial complexes in the Myeongrye–Jeonggwan region, establish a foundation for sustainable development, and prepare detailed action plans that enable mutual growth between local businesses and the community.

Meanwhile, the city is strengthening its comprehensive support system to help companies navigate capital shortages as well as respond proactively to rapidly changing global economic and trade conditions.

First, to support companies’ most urgent financial needs, the city has secured a 33 billion KRW policy fund this year. In addition, Busan Metropolitan City newly established a 100 billion KRW “Technology Innovation Special Fund” to facilitate smoother financing for local start-ups and venture companies. Through this initiative, the city is expanding support for companies with growth potential and laying the groundwork for regional technological innovation.

Furthermore, the city is actively supporting companies' overseas expansion by offering assistance such as tariffs damage support, increased subsidies for international logistics costs, and support for entering new global markets.

In addition, the city is promoting various initiatives to improve working conditions and enhance industrial complex competitiveness, including expansion of industrial complex shuttle bus services, subsidies for eco-friendly vehicle rental costs for young workers, provision of dormitory-type rental housing through LH (Korea Land & Housing Corporation), establishment of youth culture centers, and renewal of aging factories.

Mayor Park stated that the Myeongrye and Jeonggwan industrial complexes “serve as key pillars in expanding Busan’s industrial landscape in a balanced manner,” adding that by combining the foundation of traditional manufacturing with eco-friendly high-tech industries, the region “will become a new engine for regional economic growth.” He further noted that Busan Metropolitan City “will continue to stand as a strong partner for businesses, driving innovation-led growth so that Busan can firmly establish itself as the central city of the southern region.”