Busan Chamber urges action on local issues, including starting construction on Gadeokdo New Airport this year and bringing an integrated LCC to Busan

[Financial News] The Busan Chamber of Commerce and Industry has called for the National Assembly of the Republic of Korea to actively support efforts to resolve key local issues, including starting construction on Gadeokdo New Airport early, bringing the headquarters of an integrated low-cost carrier (LCC) to Busan, and relocating Korea Development Bank (KDB)’s headquarters.
The Busan Chamber of Commerce and Industry said that it held a business leaders’ meeting on the 10th in the reception room on the Chamber’s eighth floor, inviting former National Assembly Speaker Woo Won-shik. Ten members of the Chamber’s leadership, including Chair Yang Jaesaeng, attended the meeting.
At the meeting, the Chamber called for the swift passage of an amendment to the special act on Gadeokdo New Airport, so that inflation that occurred before contracts were signed could be reflected in construction costs. It said the project needed to move forward promptly, as construction of the site preparation works, originally scheduled to begin in early November, had been delayed due to insufficient legal grounds.
With the launch of the integrated Jin Air planned for next March and its headquarters location still undecided, the Chamber argued that the headquarters should be in Busan, citing Air Busan’s history as a company whose establishment involved the local business community, as well as its connection to Gadeokdo New Airport.
Regarding KDB’s relocation, the Chamber said that as Busan’s maritime industry cluster was gaining momentum with the relocation of the Ministry of Oceans and Fisheries (MOF) and HMM’s headquarters, the city needed policy-financing capabilities to support this growth. It urged the National Assembly to take an active role in amending the Korea Development Bank Act.
It also called for government-led coordination of differences between regions and the securing of additional water sources to make tangible progress on the clean water supply project, a long-standing aspiration of Busan and South Gyeongsang Province for more than 30 years.
Chair Yang said, “With MOF and HMM coming to Busan, the path to becoming a maritime capital has opened,” adding, “I ask for your special attention and support for the proposals, so that the changes that began at sea can extend to air routes and finance.”
The Busan Chamber of Commerce and Industry plans to continue working with relevant organizations, including the National Assembly, the government, and Busan City, to help turn the proposals made today into legislation and policy.


[email protected] Kwon Byung-seok Reporter