Busan City Holds 'Export Companies On-Site Difficulty Meeting' ... Overcoming Crisis and Strengthening Competitiveness

April 18, 4 PM at City Hall, Export Companies, Associations, and Related Organizations Meeting Led by Deputy Mayor for Economic Affairs Lee Seong-gwon

Discussion on Export Difficulties and Support Measures for Sectors with Recent Export Declines an

On the 18th at 4 p.m., Busan City held an 'Export Companies On-site Difficulties Meeting' in the 7th-floor conference room of City Hall, chaired by Deputy Mayor for Economic Affairs Lee Seong-gwon, to listen to voices from the field and discuss support measures to overcome the export crisis and strengthen competitiveness.

Export Companies On-Site Difficulty Meeting chaired by Lee Seong-gwon, Deputy Mayor for Economic Affairs.

At the meeting, major companies exporting automotive parts, seafood, and steel products such as Hyosung Electric, Cheonga Trading, G-MAX, Dongkwang Trading Company, Doowon Steel, and Remetal Industry, as well as Russian export companies, related associations, and affiliated organizations attended to share export status by industry, company-specific difficulties, and discuss support measures.

Looking at recent export conditions and trends, nationwide export decline continues due to delayed global economic recovery, accelerated geopolitical conflicts, and sluggish information technology (IT) industry conditions; however, items such as automobiles and ships are showing favorable performance.

Accordingly, the city noted that Busan's region is relatively less affected by export risks, but since the perception of export crisis varies by industry, it organized the meeting to directly hear the vivid voices from export sites, focusing on industries facing difficulties, and to foster close cooperation.

Prior to this meeting, on May 9, the city held a meeting among related organizations to discuss financial support, a major request from export companies. Attendees included Busan Bank, Korea Eximbank (Busan-Gyeongnam Regional Headquarters), Busan Credit Guarantee Foundation, Korea Trade Insurance Corporation (Busan Branch), and Korea International Trade Association (Busan Regional Headquarters), where they discussed countermeasures to resolve funding difficulties.

Participants at the meeting expressed concerns about export decline due to shrinking international demand amid this year's global economic slowdown and called for export support policies to develop new markets to replace high-risk markets such as Russia and China.

They also requested prompt responses to trade barriers such as carbon border tax, support for export goods storage, logistics cost assistance, export liquidity funding, and stable trade activities and competitiveness in preparation for unstable external conditions.

Deputy Mayor Lee Seong-gwon stated that, in cooperation with export-related organizations, they will support discovering new export destinations such as Africa and Indonesia, actively assist in pioneering new markets for our export companies through dispatching trade delegations linked to the 2030 Busan World Expo bid, and support participation in exhibitions.

He also announced plans to support securing international price competitiveness by reducing logistics costs through the establishment of a logistics center for automotive parts export support, and emphasized continuously seeking ways to maintain competitiveness by providing information and customized education for companies through the 'Busan Export One-Stop Center' regarding trade regulations that could act as trade barriers such as the carbon border tax. Furthermore, he stated that close monitoring of potentially strengthened sanctions against Russia will be conducted.

Deputy Mayor Lee Seong-gwon emphasized, “Exports are a crucial factor for corporate growth and regional economic recovery. We will continue to communicate regularly between the city and industries to resolve issues faced by export companies,” and added, “We will not hesitate to support companies that boldly invest and expand overseas despite difficult external conditions.”

This content was produced with the assistance of AI translation services.