Busan City Hosts '2024 Busan Trade Day' Event

On the 11th at 4:30 PM, Paradise Hotel, Mayor Park Hyung-jun, Business Council Chairman, Meritorious Entrepreneurs, Related Organizations, and about 250 attendees

Mayor Park Hyung-jun awards and presents market awards, government awards, Export Tower, etc. to a total of 187 export entrepreneurs, encouraging their hard work

Busan City and the Busan Regional Headquarters of the Korea International Trade Association will hold the '2024 Busan Trade Day' event at 4:30 PM on the 11th at the Paradise Hotel Busan.

The 'Busan Trade Day' event, commemorating Trade Day (December 5), a statutory memorial day, is organized to boost the morale of Busan export companies and export-related workers who have strived for the economic development and export promotion of the Busan region despite difficult domestic and international conditions, and to foster an atmosphere encouraging exports. This year marks the 26th anniversary of the event.

About 250 people will attend, including Mayor Park Hyung-jun, Chairman Lee Soo-tae of the Busan Business Council, representatives of export merit companies, awardees, and officials from export organizations.

At the event, Mayor Park Hyung-jun will personally present government and mayoral awards to a total of 187 exporters who contributed to the activation of exports in the Busan region. The scale of awards has increased compared to last year, with 10 more government awards and 3 more Export Tower awards.

This year's Busan Export Grand Prize was awarded to Hwashin Bolt Industry (CEO Jeong Soon-won, Jeong Tae-young), which was also selected for the Gold Tower Industrial Medal government award. The Excellence Awards went to Samyoung MT (CEO Shin Hyo-sik, Jeong Won-young), Sejong Technology (CEO Ko Young-hyun), and IEN Hanchang (CEO Jang Yeon-deok). Additionally, export merit awards were given to 10 individuals including Simsco Manager Jeon Da-eun, and 3 individuals for trade promotion merit.

Furthermore, government awards will be presented to 52 businesspeople who contributed to increasing exports in the Busan region, the 'Export Tower' will be awarded to 112 companies with excellent export performance, and commendations from the Korea International Trade Association president will be given to 6 companies.

Despite the unusually unstable global situation and difficult domestic and international trade conditions this year, thanks to the city's various trade policy supports and the export promotion efforts of local export companies, exports turned to an increasing trend (13.7%) in October compared to the same month last year.

As of October this year, Busan's export amount was $12 billion, showing a 4.2% decrease compared to the previous year. However, signs of a rebound appeared from September, and exports turned to an increasing trend in October, ranking third nationwide in export growth rate, performing well despite difficult conditions.

Since global economic uncertainties are expected to increase next year, the city held a 'Public-Private Joint Economic Situation Review Meeting for Proactive Response to the Second Trump Administration' on the 2nd. The city plans to expand various policies to support the export growth of Busan companies, including reestablishing export strategies to the U.S., expanding export vouchers, and diversifying export markets.

Mayor Park Hyung-jun said, "I thank the businesspeople who have worked vigorously on the ground for Busan's economic development despite this year's unstable global complex crisis situation." He added, "Busan is continuously challenging and innovating to create a future industry ecosystem, technological innovation, and trade professional workforce for sustainable economic development. We will continue to prepare policies reflecting the voices of businesses on the ground and provide full support to activate exports. We ask for the interest and support of Busan companies."

2024 Busan Trade Day Event.