Busan Port Authority Discloses 26 Projects Subject to Real-Name Business System This Year
Transparent Disclosure of Key Projects Including Large-Scale and Government Subsidized Initiatives
Busan Port Authority (BPA) announced on the 31st that it has selected 26 projects for the 2025 Business Real-Name System to ensure transparency and accountability in its major ongoing projects, and has disclosed them on the BPA website.
The Business Real-Name System is a system in which individual public institutions, in accordance with the Ministry of Economy and Finance’s ‘Guidelines on Innovation of Public Institutions,’ disclose the names of those responsible and the progress of selected projects through a deliberation committee to strengthen policy transparency and accountability. BPA has been disclosing this information annually on its website since 2016.
BPA has established the selection criteria for the 2025 Business Real-Name System projects as follows: large-scale projects with a total project cost of 30 billion KRW or more that have significant financial impact, projects funded by government subsidies, and major national policy projects or projects requiring intensive management.
As a result, on the 27th, the Business Real-Name System Deliberation Committee was held and 26 projects, one more than last year, were approved as target projects. Major policy projects such as the Busan Port North Port Phase 1 and Phase 2 Redevelopment Projects, Jinhae New Port Phase 1-1 Container Terminal Construction Project, and Busan New Port Hinterland Development Project were included.
Detailed information on the Business Real-Name System projects can be found on the BPA website (Information Disclosure - Business Real-Name System Projects).
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Song Sanggeun, President of Busan Port Authority, stated, “We will continue to strengthen policy transparency and accountability as a public institution by ensuring the smooth implementation of key projects, and strive to become a BPA that earns the trust of the public.”
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