Busan City Holds Public-Private Meeting to Address Crisis and Revitalize Construction Industry

On the 15th at 2 p.m., Busan City held a meeting with the local specialized construction industry in the conference room on the 7th floor of City Hall.

Busan City held a meeting with the specialized construction industry in Busan.

This meeting was held to prepare measures to respond to and revitalize the construction industry crisis by communicating and cooperating with local companies, as the construction and housing markets are deepening their slump due to global economic uncertainties, high interest rates, high exchange rates, and high inflation.

Attending the meeting were Acting Mayor Lee Jun-seung, Kim Se-won, President of the Busan Chapter of the Korea Specialty Contractors Association, Kim Hyung-gyeom, Senior Vice President, and six representatives from the local specialized construction industry.

At the meeting, Kim Se-won, President of the Busan Chapter of the Korea Specialty Contractors Association, and others proposed to the city ▲ support for local subcontracting participation ▲ expansion of subcontracting participation in the Gadeokdo New Airport construction project ▲ appropriate reflection of the ratio of construction cost calculation ▲ expansion of participation by specialized construction companies in small-scale complex projects.

The city plans to actively review the proposals raised at the meeting to prepare measures to revitalize the local construction economy and to actively support the industry through bold regulatory reforms.

Plans will be promptly implemented to expand participation in small-scale complex projects and support local subcontracting participation to revitalize the local construction economy.

Acting Mayor Lee Jun-seung said, “The construction industry is a barometer of the real economy, and the specialized construction industry, which possesses specialized construction technology, forms the foundation supporting the construction industry.” He added, “Our city plans to form a public-private consultative body to actively respond to the voices from the field to prepare practical support measures for the local specialized construction industry.” He also stated, “Based on the opinions raised at this meeting, we will prepare various policies that can contribute to regional development and economic growth and, if necessary, propose them to the central government.”