"Done After Catching the Fish? The Real Start Is After Investment"… Park Hyungjun, Mayor of Busan, on 'Policy After-Service'

Busan City, a Partner in Every Stage of Corporate Growth
After-Service Visits to Oriental Precision & Engineering and Prestige Biopharma

Transforming Busan's industrial landscape does not end with attracting investment. Park Hyungjun, Mayor of Busan, emphasizes that what comes next is even more important.

He is referring to helping companies take root in the region, grow, and ultimately give back to Busan through jobs and technology. This is the core of the "policy after-service" that he stresses.

On the afternoon of November 3, Mayor Park Hyungjun plans to visit two major investment companies in the Gangseo area in succession. This is not a simple visit, but an opportunity to put into practice the city's promise of "accompanying companies after investment."

Park Hyungjun, Mayor of Busan.

The first stop is Oriental Precision & Engineering, a leading shipbuilding equipment company in Busan. Established in Busan in 1980, the company manufactures ship cranes and superstructures, maintaining the top market share in Korea.

Recently, it has been driving changes in the eco-friendly and digital ship market by developing ultra-low temperature cranes that operate even at minus 52 degrees Celsius. Mayor Park emphasized, "We will continue to support companies that invest in the region until the end."

His words are not mere encouragement or lip service. A dedicated public official (PM) from Busan City has been assigned to provide close support for Oriental Precision & Engineering's ongoing project to build an R&D center in Eco Delta City. With an investment of 25 billion won, this research complex is expected to create over 80 new jobs upon completion.

The company stated, "Thanks to the city's proactive support, we have established a foundation to grow into a world-class ship crane specialist," and added, "We will contribute to Busan's economy by hiring local talent and strengthening the competitiveness of the shipbuilding industry."

The second destination is the Prestige Biopharma Innovative Drug Center (IDC), which is Busan's first large-scale foreign-invested biopharmaceutical center.

Opened in November last year, this center is the largest R&D hub in Korea that independently handles the entire process of antibody biopharmaceuticals, from development and clinical trials to commercialization and production.

With over 86% of its staff holding master's or doctoral degrees, the center has achieved significant milestones such as securing orphan drug designation for its pancreatic cancer targeted therapy from the US FDA, the European EMA, and Korea's Ministry of Food and Drug Safety,

as well as being selected for the "Korean-style ARPA-H Project" and other major accomplishments.

Mayor Park Hyungjun stated, "We will provide full support so that Busan can become a global hub for new drug development." A company representative responded, "Thanks to the support from Busan City, foreign-invested companies are able to settle and grow stably." The company is determined to "develop innovative new drugs in Busan for the global market."

Mayor Park Hyungjun says, "Investment is not the end, but a new beginning." The "policy after-service" he describes is not just post-investment management. It is interpreted as a "living support system" in which the administration listens to companies' issues on-site and directly resolves them.

The One-Stop Investment Support Council, currently promoted by Busan City, involves organic cooperation among 13 institutions. This system is institutionally supported. Going forward, Busan City plans to strengthen administrative and financial support at every stage of corporate growth and focus on creating an urban environment where companies can invest with confidence.

"We will be with companies throughout the entire process of taking root and growing."

This single statement from Mayor Park Hyungjun encapsulates the core message of his visits to company sites. It reflects Busan's determination to move in step with the growth curve of its companies. According to Mayor Park, these visits are not just about checking on policy implementation, but serve as a litmus test to see if the economic field and the administration of Busan are moving at the same pace.

If, as Mayor Park Hyungjun says, investment is not the "end" but the "beginning," then Busan's future industrial map is only now starting to be drawn.

Busan City Hall.

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