Busan City, in collaboration with the Busan Economic Promotion Agency, is set to host a pivotal event aimed at bolstering the resilience of local export companies amidst shifting global trade dynamics. On June 17, 2025, at 2 PM, the 'Noksan Industrial Complex On-site Customs Response Pinpoint Briefing and Consultation Session' will take place at the Korea Industrial Complex Corporation Innovation Center Auditorium, located within the Noksan Industrial Complex in Gangseo-gu.
This event emerges as a strategic follow-up to the 'Busan Export Crisis On-site Support Team operation,' reflecting a proactive approach to the challenges regional exporters face, particularly in relation to US customs policies. The initiative is grounded in a comprehensive survey conducted in April and May 2025, which canvassed 93 export companies across the region to identify their specific difficulties in navigating the evolving customs landscape.
Recognizing that nearly half (approximately 49.4%) of Busan's workforce is concentrated in Gangseo-gu, the choice of venue underscores a deliberate effort to maximize accessibility and convenience for local businesses. The Noksan Industrial Complex, a hub of industrial activity, serves as an ideal location to convene stakeholders and provide targeted support where it is most needed.
The session promises a rich agenda designed to equip companies with vital knowledge and tailored assistance. It will commence with a presentation by the Korea Trade-Investment Promotion Agency (KOTRA) addressing 'Global Trade Issues and Corporate Difficulties Arising from US Customs Policy.' This segment aims to shed light on the broader international trade environment and the specific challenges posed by recent US tariff measures.
Following this, Busan Bank will offer practical guidance on export operations, focusing on exchange rates and strategies to mitigate exchange rate risks—a crucial aspect for companies dealing with volatile currency markets. This financial insight is expected to empower exporters to better manage their international transactions and safeguard profitability.
In addition to these presentations, representatives from Busan City, the Busan Economic Promotion Agency, and the Korea Credit Guarantee Fund Busan Credit Guarantee Center will introduce various institutional support policies available to exporters. These programs are tailored to assist companies in overcoming barriers and enhancing competitiveness in global markets.
Perhaps the most valuable component of the event will be the one-on-one consultations with experts specializing in customs, legal matters, and finance. These personalized sessions are designed to address the unique challenges faced by individual businesses, offering bespoke solutions and expert advice to navigate regulatory complexities and financial hurdles.
Participation in this briefing and consultation session is open to Busan-based companies, with applications accepted through the city's overseas marketing integrated system until June 12, 2025. Interested parties are encouraged to act promptly to secure their place. For further information and assistance, the Busan Economic Promotion Agency stands ready to provide support.
Kim Bong-cheol, Director of Busan City's Digital Economy Bureau, emphasized the significance of this initiative: "This event is expected to provide prompt and accurate trade information to regional export companies and effectively resolve their difficulties. We will continue to listen to the voices from the field and dedicate ourselves to developing and implementing export support policies that truly meet the needs of our local businesses." His statement highlights the city's commitment to fostering a supportive environment where exporters can thrive despite global uncertainties.
The broader context of this event is the ongoing volatility in international trade, particularly the impact of US customs policies that have introduced new tariffs and regulatory challenges for exporters worldwide. Busan, as a major port city and industrial hub, is acutely aware of the risks these changes pose to its export-driven economy.
By combining data-driven insights from recent surveys with expert knowledge and practical support, Busan City and its partners aim to mitigate these risks and empower local companies to adapt swiftly. The event reflects a holistic approach—addressing not just informational needs but also offering direct, actionable assistance through consultations and policy guidance.
Moreover, the strategic timing and location of the session underscore a thoughtful consideration of the local business ecosystem. By situating the event within the Noksan Industrial Complex, organizers ensure that the majority of affected workers and companies can conveniently access the resources provided.
In an era where global trade dynamics can shift rapidly, such initiatives are vital. They not only help companies stay informed but also foster resilience by equipping them with tools and networks to navigate challenges effectively.
As the application deadline approaches, local exporters are encouraged to take advantage of this opportunity. The combination of expert presentations, financial guidance, policy introductions, and personalized consultations offers a comprehensive support package that could prove instrumental in sustaining and growing their international business operations.
Ultimately, Busan's proactive stance exemplifies how cities can leverage targeted interventions to safeguard their economic interests and support the backbone of their economies—the export companies that drive growth and employment.
