Survey of 100 business leaders by Busan Chamber of Commerce and Industry

'Upgrading key industries and fostering future industries' tops policy priorities

The Busan Chamber of Commerce and Industry building [Busan CCI]
The Busan Chamber of Commerce and Industry building [Busan CCI]

Business leaders in Busan have identified "upgrading key industries and fostering future industries" as the top policy priority for the Jeon Jae-soo city administration. On the core direction of business policy, respondents ranked "minimizing the gap between policy and the business scene" first — signaling that companies expect practical, on-the-ground results over long-term blueprints.

The Busan Chamber of Commerce and Industry released the findings Wednesday from a survey of 100 major local business leaders, conducted under the title "Business Leaders' Opinions on the Next Busan City Government."

Top business policy priorities that business leaders want from the next Busan city government [Busan CCI]
Top business policy priorities that business leaders want from the next Busan city government [Busan CCI]

Business leaders said the next Busan city government should prioritize "upgrading key industries and fostering future industries" (32.5%) to boost corporate vitality and revitalize the local economy. That was followed by "improving the business environment and reforming regulation and administration" (21.9%), "developing and employing local talent" (16.6%), and "promoting and attracting corporate investment" (15.9%).

The results reflect both the urgency felt on the ground over restructuring and technology development in Busan's core industries, and expectations that new industries will generate fresh growth engines.

Among the most pressing issues the Jeon administration should address, respondents gave high marks to "relocating marine-specialized public institutions to Busan" (18.0%) and "establishing a marine data center and building an AI-driven marine economy hub" (17.4%). The results reflect optimism that Busan's maritime capital strategy is bearing fruit — buoyed by the planned relocation of the Ministry of Oceans and Fisheries and the confirmed move of HMM to Busan, following SK Shipping and H-Line Shipping.

On corporate support policy, direct financial assistance topped the wish list: "expanding investment incentives" (23.4%) and "expanding financial and tax support" (22.3%) led the rankings. The Busan Chamber of Commerce and Industry said the results reflect the heavier-than-ever burden on businesses from rising raw material and energy prices, US tariffs on exports, and geopolitical risks including the war in the Middle East.

Core policy directions that business leaders want from the next Busan city government [Busan CCI]
Core policy directions that business leaders want from the next Busan city government [Busan CCI]

On the core direction of business policy, "minimizing the gap between policy and the business scene" drew the highest share of responses (30.8%), followed by "strengthening implementation monitoring and follow-up management" (17.6%) and "balanced support across industries and regions" (15.4%).

"Local business leaders are urgently calling for new growth engines through the upgrading of key industries and the cultivation of future industries, while also broadly demanding direct and effective support — including a stable power supply, expanded investment incentives, and financial and tax assistance," a Busan Chamber of Commerce and Industry official said. "Expectations for the Jeon Jae-soo administration are high, and we ask that it deliver tangible results that businesses can actually feel."


kaf2002@heraldcorp.com