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Busan Metropolitan City Signs Memorandum of Understanding to Foster and Support Port-Related Industries at Busan Port

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Busan Metropolitan City Mayor Park Heong-joon announced that the city signed a Memorandum of Understanding for fostering and supporting port-related industries at Busan Port at 14:30 on January 27 at the main conference room of the Busan Port Authority, together with the Busan Regional Office of Oceans and Fisheries, the Busan Regional Employment and Labor Office, the Busan Port Authority, and the Busan Port Industry Association.

The signing ceremony was attended by Vice Mayor for Future Innovation Seong Heui-yeob, Head Kim Hye-jeong of the Busan Regional Office of Oceans and Fisheries, Head Kim Jun-hwi of the Busan Regional Employment and Labor Office, President Song Sang-geun of the Busan Port Authority, and Chair Kim Yeong-deuk of the Busan Port Industry Association, who all signed the agreement in person.

This Memorandum of Understanding was prepared to promote the sustainable growth of port-related industries at Busan Port, which form the foundation for strengthening port competitiveness and revitalizing the local economy.

The agreement was concluded after five institutions, including Busan Metropolitan City, came together in agreement following a proposal by the Busan Port Authority.

Port-related industries are a regionally specialized industry that has developed around Busan, with more than half of all related companies nationwide registered in the city.

Under the agreement signed today, the participating institutions plan to faithfully carry out the roles assigned to each organization as specified in the agreement and to establish a close cooperative system to support the fostering of port-related industries at Busan Port.

Busan Metropolitan City will support the fostering and development of port-related industries at Busan Port, while the Busan Regional Office of Oceans and Fisheries will provide administrative and institutional support to enhance competitiveness and safety management capabilities in the sector.

The Busan Regional Employment and Labor Office will support workforce supply and demand, prevent wage arrears, and assist with accident prevention in port-related industries, while the Busan Port Authority will carry out projects to support the fostering and development of port-related industries at Busan Port.

The Busan Port Industry Association will operate a secretariat to address common issues within the port-related industry sector, establish and implement annual business plans, participate in industry fostering and support projects, and engage in mutual cooperation to create workplaces free from wage arrears.

Busan Metropolitan City expressed its expectation that this agreement will serve as a symbolic starting point for promoting joint cooperation among institutions beyond their individual roles in fostering port-related industries at Busan Port.

The city has been continuing a wide range of support initiatives for the fostering and development of port-related industries in Busan, including workforce training programs, certification and support systems for exemplary companies, and environmentally friendly and digital transformation initiatives.

In addition, institutional foundations have been established to support systematic industrial growth, including the enactment of an ordinance on the fostering and support of port-related industries and the operation of a consultative body dedicated to industry development.

Mayor Park Heong-joon stated that last year, Busan experienced waves of innovation toward realizing its vision as a global maritime hub city, including the relocation of the Ministry of Oceans and Fisheries and shipping companies to Busan, the attraction of an international waterway infrastructure center, the hosting of the 10th Our Ocean Conference, and entry into the board of the World Port Cities Leadership Association. He added that, with this agreement as a turning point, he will ensure that these waves of innovation spread throughout every corner of port-related industries at Busan Port in line with the vision of Busan as the maritime capital.