Business leaders call for progress on Gadeok airport, integrated LCC, Korea Development Bank relocation and clean water supply

Former National Assembly Speaker Woo Won-shik (left) and Busan Chamber of Commerce and Industry Chairman Yang Jae-saeng [Busan Chamber of Commerce and Industry]
Former National Assembly Speaker Woo Won-shik (left) and Busan Chamber of Commerce and Industry Chairman Yang Jae-saeng [Busan Chamber of Commerce and Industry]

The Busan Chamber of Commerce and Industry held a business forum Tuesday morning with former National Assembly Speaker Woo Won-shik at the chamber's eighth-floor reception room. Woo, who served as speaker during the first half of the 22nd National Assembly, attended alongside chamber Chairman Yang Jae-saeng and eight other members of the chamber's executive board.

The chamber presented four policy requests: swift passage of an amendment to the special act on Gadeok Island New Airport construction, relocation of the integrated low-cost carrier's headquarters to Busan, the move of Korea Development Bank's headquarters to Busan, and progress on the Busan clean water supply project.

On the airport issue, the chamber asked the National Assembly to expedite an amendment to the Special Act on the Construction of Gadeok Island New Airport that would allow pre-contract price increases to be reflected in construction costs. Ground-breaking on the site preparation work, originally scheduled for earlier this month, has been delayed due to a lack of legal basis, and the chamber urged support to allow construction to begin without further delay.

The chamber also called for the integrated LCC's headquarters to be based in Busan. With the launch of the combined carrier — to be known as the integrated Jinair — set for March next year and its headquarters location still undecided, the chamber said Busan is the natural home for the new entity, citing Air Busan's history as a carrier established with participation from the local business community and its ties to Gadeok Island New Airport.

On the Korea Development Bank relocation, the chamber argued that as the Ministry of Oceans and Fisheries and HMM have moved to Busan and the concentration of maritime industries in the city has accelerated in earnest, supporting policy finance functions are now needed, and called on the National Assembly to actively pursue an amendment to the Korea Development Bank Act. The chamber also urged the former speaker to help resolve regional disagreements and secure additional water sources to advance the clean water supply project — a priority for Busan and South Gyeongsang Province spanning more than 30 years.

"With the Ministry of Oceans and Fisheries and HMM coming to Busan, the path to becoming a maritime capital has opened," Chairman Yang said. "We ask for your special attention and support so that this change, which began at sea, can extend to air routes and finance."


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