Busan City Secures Consecutive Major Corporations... Hanwha Power Systems Signs MOU to Establish 'Ship Solution Business Center'

On the 2nd at 2 p.m., Busan City will sign a memorandum of understanding (MOU) with Hanwha Power Systems, a global energy equipment manufacturing company, to establish a 'Ship Solution Business Center' at the city hall video conference room.

Busan City Hall.

At the signing ceremony, Busan Mayor Park Hyung-joon and Hanwha Power Systems CEO Son Young-chang are scheduled to personally sign the MOU.

Hanwha Power Systems, an affiliate of Hanwha Group, is the only energy equipment company in Korea capable of independently designing and producing large-capacity high-pressure gas compressors. Recently, with Hanwha Group's acquisition of Daewoo Shipbuilding & Marine Engineering (now Hanwha Ocean), the company is expanding its business scope to include ship solution services that cover both affiliate and external customer demands.

Upon signing this agreement, Hanwha Power Systems plans to establish the 'Ship Solution Business Center' in Busan, where it is easier to secure specialized talent in shipbuilding equipment and shipbuilding technology.

The center will cover a total floor area of approximately 250 pyeong, with an investment of about 3.6 billion KRW, and plans to newly hire around 200 personnel by 2026, including ship design, research and development (R&D) staff, and ship service management personnel.

With the investment in establishing the 'Ship Solution Business Center,' the company will provide comprehensive (one-stop) services related to ship operation, such as maintenance and repair of existing ships and ship modification projects. It is expected that the competitiveness of local companies will be further enhanced through strengthened cooperative networks with local ship repair companies and shipbuilding equipment manufacturers.

The city explained that following the investment attraction of Samsung Heavy Industries' 'Busan Research and Development (R&D) Center' in June, the consecutive attraction of large corporations' R&D centers has laid a foothold for Busan to become a genuine knowledge service industry hub, rivaling the Seoul metropolitan area including Pangyo.

Furthermore, this year, in addition to the advancement of existing core industries such as automobiles and logistics, the expansion of investment fields to include secondary batteries and shipbuilding R&D centers is expected to have a positive effect on future job creation and industrial structure changes. Therefore, the city plans to put more effort into attracting related companies going forward.

Son Young-chang, CEO of Hanwha Power Systems, said, "We are very pleased to establish the new business 'Ship Solution Business Center' with Busan City as part of Hanwha Power Systems' leap toward becoming a world-class company." He added, "We will strive for the development of the local economy by hiring local talent and fostering win-win cooperation with local companies."

Mayor Park Hyung-joon expressed his gratitude, saying, "We appreciate that a global company like Hanwha Power Systems has decided to invest in Busan." He continued, "I ask that you play a leading role in driving Busan's future eco-friendly ship industry, and the city will spare no effort in supporting the related industry both materially and spiritually." He emphasized, "We will continue to attract good companies to prevent the outflow of young talent from the region to the metropolitan area and do our best to make Busan a new growth axis for balanced development in the local era."

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