"Investing 6.7 Trillion Won"... Busan Unveils Five-Year Roadmap for the Marine Industry

The 4th Comprehensive Plan for Fostering Busan’s Marine Industry Set in Motion

Busan City has announced a mid- to long-term plan to strengthen the competitiveness of its marine industry by 2030.

On April 21, the city stated that it has established and will begin implementing the "4th Comprehensive Plan for Fostering the Marine Industry in Busan Metropolitan City (2026–2030)."

This plan is characterized by its focus on industrial structure innovation and functional restructuring, in response to changing policy environments such as the relocation of the Ministry of Oceans and Fisheries to Busan. With the vision of making Busan a "global marine hub city," the goal is to enhance the competitiveness of the overall marine industry.

The core values are set as ▲sustainability ▲digital innovation and future orientation ▲strengthening global competitiveness. The plan simultaneously pursues the transition to eco-friendly and low-carbon industries, the adoption of digital technologies, and the expansion of global networks.

To achieve this, the city will sequentially implement 22 strategies and 48 tasks across seven major sectors. These sectors encompass the entire industry, including shipping and port logistics, marine finance, fisheries, marine science and technology, shipbuilding and offshore plants, and marine tourism.

The total project budget amounts to 6.7469 trillion won, with 1.6724 trillion won from the national government, 1.1628 trillion won from the city government, and 3.9117 trillion won from the private sector. Through this plan, Busan City aims to restructure the marine industry into a complex industrial structure that integrates administration, industry, finance, legal, and infrastructure functions.

Mayor Park Hyungjoon emphasized, "We will promote innovation and advancement across the marine industry to strengthen Busan's status as a global marine hub city."

Busan City Hall.

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