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Busan Metropolitan City Joins Forces with Southeastern Region Anchor Companies to Advance the 3X-Based Advanced Shipbuilding and Shipping Growth Engine

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Busan Metropolitan City (Mayor Chun Jae-soo) announced that it held the “5+3 Regional Growth Strategy Meeting with Anchor Companies in the Southeastern Shipbuilding Industry” on October 21 at Shilla Stay Seobusan, together with Ulsan Metropolitan City, Gyeongsangnam-do, the Research Institute of Medium & Small Shipbuilding, and South Korea's three major shipbuilding companies.

The meeting was organized to develop strategies for fostering growth engines in connection with the 2027 research and development (R&D) project for the southeastern region's advanced shipbuilding and shipping growth engine, and to discuss ways to align anchor companies' investment plans with the seven major policy support packages.

Approximately 30 participants attended the meeting, including representatives from local governments in Busan, Ulsan, and Gyeongsangnam-do, the Research Institute of Medium & Small Shipbuilding, the Busan Regional Industry Promotion Agency, major anchor companies including South Korea's three largest shipbuilders, medium-sized shipyards, shipbuilding equipment and materials manufacturers, and experts from related organizations.

Participating anchor companies included HD Hyundai Heavy Industries, Samsung Heavy Industries, Hanwha Ocean, HJ Shipbuilding & Construction, and KSP.

On August 26, the central government announced its “5+3 Regional Growth Engines” initiative, under which the southeastern region will prioritize four growth engines: advanced shipbuilding and shipping, aerospace and defense, future mobility manufacturing, and next-generation nuclear power and energy.

On September 7, the Ministry of Trade, Industry and Resources launched the “Locally Led Growth Engine Council” and announced seven major policy support packages designed to facilitate regional investment by anchor companies, along with guidelines for developing growth engine promotion plans.

Among these initiatives, the southeastern region's advanced shipbuilding and shipping growth engine project will be pursued through the “3X” framework, comprising green transformation (GX), manufacturing AI transformation (AX), and smart transformation (SX).

Over the past year, three categories of project packages covering R&D, infrastructure, and workforce development have been developed in collaboration with anchor companies in the 3X sectors. Building on these efforts, the initiative aims to establish the Global AI Shipbuilding Ocean Capital (G-ASOC).

At the meeting, participants shared their companies' investment plans and discussed ways to connect the southeastern region's advanced shipbuilding and shipping growth engine project with the seven major policy support packages.

They reviewed the types of support companies would need during the investment process and explored ways to ensure that government support translates into corporate investment.

In addition, participants gathered policy recommendations concerning regulations, fiscal and tax measures, financing, and residential conditions, based on the investment intentions and plans of individual anchor companies.

Busan Metropolitan City plans to focus on securing national funding for 2027 to ensure the smooth implementation of the southeastern region's advanced shipbuilding and shipping growth engine project.

The city will coordinate its efforts with Ulsan Metropolitan City, Gyeongsangnam-do, and anchor companies, including by further substantiating the need for the project and its expected investment benefits.

Kim Dong-hyun, Director General of the AI Industry Innovation Bureau at Busan Metropolitan City, said, “This meeting provided a meaningful opportunity to give concrete shape to the southeastern region's advanced shipbuilding and shipping growth engine by connecting the shipbuilding and maritime industry capabilities of Busan, Ulsan, and Gyeongsangnam-do with investments by anchor companies.”

He added, “We will build an industrial ecosystem in which businesses and local communities grow together, with a focus on green transformation, manufacturing AI transformation, and smart transformation. We will also work closely with local governments and anchor companies to ensure the smooth launch of the project in 2027 and secure the necessary funding.”