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Busan Metropolitan City Convenes Task Force Meeting on Public Institution Relocation

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Busan Metropolitan City, led by Mayor Chun Jae-soo, announced that it convened a meeting of the Task Force on Public Institution Relocation at 9:30 a.m. today, August 3, in the Video Conference Room at City Hall, chaired by Mayor Chun.

The meeting focused on strategies to attract key policy financing institutions and national research institutes, centering on Busan’s four specialized functional clusters: finance, maritime affairs, advanced industries and research and development (R&D), and film and visual media.

Participants also shared recent developments and conducted an in-depth review of future plans to proactively respond to the central government’s forthcoming plan for the second round of public institution relocation.

Building on its existing infrastructure, which has consistently demonstrated outstanding performance in nationwide evaluations of innovation cities, Busan Metropolitan City is making every effort to attract public institutions in the four specialized functional clusters that can create synergies with the region’s key industries.

Priority target institutions include the Korea Development Bank, the Industrial Bank of Korea, the Export-Import Bank of Korea, and the Korea Trade Insurance Corporation in the finance sector; the Korea Institute of Marine Science & Technology Promotion, the Korea Maritime Transportation Safety Authority, the Korea Fisheries Infrastructure Public Agency, and the Korea Marine Environment Management Corporation in the maritime sector; the Korea Institute for Advancement of Technology, the Korea Environmental Industry & Technology Institute, the Korea Institute of Energy Technology Evaluation and Planning, and the Korea Data Agency in the advanced industries and R&D sector; and the Korean Film Archive and the Community Media Foundation in the film and visual media sector. These are key institutions expected to generate new growth engines for Busan’s future.

Busan Metropolitan City has steadily carried out preparatory work for the second round of public institution relocation, including advance reviews of available office space and living conditions and continued visits to the central government to formally advocate for relocation to Busan.

After requesting in February that the Ministry of Land, Infrastructure and Transport relocate 40 institutions, including Busan’s priority targets, the city continued its preparations for possible early relocations by identifying available office space in the region and reviewing overall living conditions.

The city has also maintained its outreach to the central government by visiting the Ministry of Land, Infrastructure and Transport on several occasions and actively proposing the relocation of public institutions connected to Busan’s regionally specialized industries.

The meeting was attended not only by the heads of relevant offices and bureaus of Busan Metropolitan City, but also by experts and representatives from various sectors, including the Busan Metropolitan Council, the Busan Research Institute, and the Busan Citizens’ Coalition for Economic Justice.

Participants actively incorporated a wide range of external views and on-the-ground perspectives into discussions on attracting public institutions. They explored practical attraction strategies and avenues for cooperation in depth and agreed to combine their capabilities and work together to successfully attract institutions to Busan under the second round of public institution relocation.

Mayor Chun Jae-soo said, “Attracting public institutions is a key initiative for Busan to advance as a maritime capital. We will bring together all capabilities across the local community, including the Busan Metropolitan Council, civic organizations, and experts, and make thorough preparations to ensure the successful relocation of institutions to Busan.”