"Relocation of Major Shipping Companies to Busan Could Create New Business Opportunities... An Ecosystem Is Needed"

[Financial News] As the relocation of major shipping companies' headquarters to Busan gathers pace, calls are growing for the development of a shipping and logistics ecosystem in which regional companies can grow alongside them so that the benefits of the move extend throughout the regional economy.
The Busan Chamber of Commerce and Industry announced the findings on the 30th from a survey of 201 regional shipping and logistics companies titled "Survey of Regional Shipping and Logistics Companies' Views on the Relocation of Major Shipping Companies, Including HMM, to Busan."

According to the survey, regional shipping and logistics companies identified building an ecosystem as a key priority for turning the relocation of major companies into new business opportunities. When asked about their main management priorities, respondents highlighted the establishment of a global shipping and logistics information network (26.9%) and the expansion of business opportunities arising from the relocation of major shipping companies (16.4%).
While 58.7% of companies expected positive effects from the relocation of major shipping companies, such as expanded opportunities for new business and contracts, 41.3% said it would have no impact, showing a gap between expectations and perceptions of reality. Among those reporting no impact, 49.4% cited the lack of meaningful opportunities to connect with major shipping companies as the main reason. The findings suggest that simply moving headquarters will not be enough to build an ecosystem, as major shipping companies have already handled operations through their Busan offices and branches, but have yet to establish business relationships and networks.
In reality, only 2.0% of the companies surveyed—four in total—currently do business with major shipping companies.
However, 71.7% of the surveyed companies said they "would be willing to do business or would actively pursue new business if the opportunity arose," indicating that substantial potential demand exists despite the lack of contact points with major shipping companies.
As a prerequisite for converting this potential demand into actual business, 52.7% of respondents said structural barriers, including gaps in transaction scale and mismatches in terms, must be eliminated.
Regarding the impact of the relocation of major shipping companies on the regional economy, respondents pointed to the expansion of global shipping networks and routes (42.3%) and increased container throughput (25.3%), expecting the move to strengthen the shipping and port competitiveness of the Port of Busan.
As prerequisites for this enhanced competitiveness, respondents cited the actual relocation of key decision-making departments, including sales, finance and pricing (23.4%), and the relocation of related partner companies alongside them (22.4%).
Regarding support policies expected from the government and local authorities, respondents identified win-win cooperation and the facilitation of business transactions (32.1%) and financial and funding support (28.9%) as the most urgent priorities.
An official of the Busan Chamber of Commerce and Industry said, "For the effects of major shipping companies' relocation to Busan to spread to regional companies and the shipping and logistics industry, the move must go beyond attracting major companies and be accompanied by the development of a shipping and logistics ecosystem in which regional companies can grow alongside them." The official added, "Policy support, including a win-win cooperation system to facilitate business links between major companies and regional firms, as well as financial and funding assistance, is needed."
[email protected] Kwon Byeong-seok Reporter