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Busan Maritime Finance Embarks on a Strong First Voyage under the Ninth Elected Administration… Regular Meeting of the Busan Maritime Finance Development Council to Be Held

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Busan Metropolitan City, led by Mayor Chun Jae-soo, announced that it will hold a regular meeting of the Busan Maritime Finance Development Council today, September 15, at 2:00 p.m. in the seminar room on the 22nd floor of the Busan International Finance Center Phase II (BIFC II) to discuss measures for advancing maritime finance and strengthen cooperation among related institutions.

Around 40 representatives will attend the meeting, including officials from major maritime finance institutions such as the Maritime Finance Center, comprising the Korea Development Bank, Korea Trade Insurance Corporation, and Export-Import Bank of Korea, and the Korea Ocean Business Corporation, as well as representatives of organizations that reflect the views of industry, including the Korea Shipowners’ Association, Korea Shipping Association, and Korea Federation of Small and Medium Shipbuilding Cooperatives.

Notably, this meeting will welcome three new participants: the Busan-Ulsan-Gyeongnam Regional Headquarters of the Korea Credit Guarantee Fund, Shinhan Bank’s SOL Cluster Busan, and the Korea Shipowners’ Mutual Protection and Indemnity Association (KP&I).

Their participation is expected to further strengthen cooperation across the maritime finance ecosystem by expanding the existing network, previously centered on policy financial institutions, to encompass a wider range of financial and insurance sectors, including credit guarantees, commercial banking, and shipowners’ mutual insurance.

In addition, the Busan Maritime Finance Development Council will expand from four to five working groups this year and establish a new Shipping Industry Working Group to strengthen ties with the maritime industry.

Private companies in fields including shipbroking, asset management, investment, insurance, and fractional investment will participate in the Shipping Industry Working Group to share the financial needs of industry and identify new opportunities for collaboration.

The meeting will feature an introduction to the maritime finance policy direction of the ninth elected administration, introductions of newly participating institutions, expert research and thematic presentations, and a session for gathering opinions and discussion.

First, Ko Byung-wook, Research Fellow at the Korea Maritime Institute (KMI), will present “Strategies for Advancing Maritime Finance to Achieve the Ninth Elected Administration’s Vision of Busan as a Global Maritime Capital.” KDX Co., Ltd. will then give a presentation titled “Advancing Maritime Finance and Fractional Investment,” introducing the KDX fractional investment trading platform and discussing opportunities to connect maritime finance with new forms of financing.

Busan Metropolitan City plans to use this regular meeting as an opportunity to strengthen information sharing and networking among maritime finance-related institutions while identifying practical collaborative projects that connect finance with diverse areas of the maritime industry, including shipping, investment, asset management, insurance, and fractional investment.

Lee Dong-yeop, Director General for Finance and Startup Policy at Busan Metropolitan City, said, “For Busan to advance as both a global maritime capital and a global maritime finance hub, close ties not only with financial institutions but also with industries such as shipping and shipbuilding are essential.”

He added, “Centered on the newly established Shipping Industry Working Group, we will actively incorporate the views of a diverse range of private companies, connect the maritime industry with finance, and develop the council into a collaborative framework that delivers tangible results.”