Since the transfer of the Ministry of Oceans and Fisheries to Busan, the average sales of all business operators in Busan increased by 3.7%. In particular, the number of newly established corporations in the Busan area rose 28% from a year earlier in the month after the Busan transfer was completed.
The Ministry of Oceans and Fisheries (MOF) cited this revitalization of the Busan economy as a key achievement in the first year of the Lee Jae-myung administration. Minister Hwang Jong-woo reported MOF's first-year results at the Cabinet meeting and emergency economic review meeting on the 20th.
The Ministry of Oceans and Fisheries (MOF) transferred its headquarters to Busan in December last year, six months after President Lee Jae-myung's instruction in June last year. It was a major relocation that changed the workplaces of 859 employees. MOF emphasized that after the transfer, average sales at all business sites in Busan increased by 3.7%, and competition ratios at Busan's maritime-related schools, including the Korea Maritime and Ocean University, also rose.
Spurred by the MOF transfer, H-LINE Shipping and SK Shipping also moved their headquarters to Busan. HMM's transfer to Busan is also expected to be completed in the first half of this year.
An MOF official said, "To expand industrial infrastructure in the maritime capital area, it is necessary to cluster shipping companies," adding, "In particular, with the transfer of HMM, the country's largest carrier, to Busan, a major leap forward in the maritime capital area's shipping and logistics industry is expected."
The establishment of the Southeast Region Investment Corporation, which will be responsible for the financial base of the maritime capital area, is also being pursued. The Ministry of Oceans and Fisheries (MOF) said, "If the establishment of the Southeast Region Investment Corporation is also confirmed, the maritime capital area will establish itself as Korea's new growth engine with administrative, judicial, corporate, and financial bases."
Expanding K-seafood exports was also cited as an achievement. Exports of seafood products reached $3.33 billion last year, hitting a record high. The top contributor was gim (dried seaweed). Last year, gim exports reached $1.13 billion, the largest ever.
It also produced results that solidified global maritime leadership. Korea and Chile will co-host the 4th UN Ocean Conference in 2028. Korea was also elected to the International Maritime Organization (IMO) Council's Category A for the 13th consecutive time.
Minister Hwang said, "The first year of the popular sovereignty government (Lee Jae-myung administration) was a year of great transformation in oceans and fisheries," adding, "With policies focused on the people's perspective, the people's satisfaction, and the nation's future, we will contribute to a great leap forward for the Republic of Korea."