Visit to Specialized Fitting and Valve Company 'BMT'... Listening to Challenges
Proposal to Improve Regulations Supporting Investment Attraction for Companies Relocating to Busan
Yang Jae-saeng, Chairman of the Busan Chamber of Commerce and Industry, visited BMT, a specialized fitting and valve manufacturing company, on the 24th to tour the manufacturing site and hold an on-site meeting to listen to pressing difficulties.
This visit was made to directly assess the challenges faced by local companies amid the expanding global uncertainties and ongoing economic recession.
Yang Jae-saeng, Chairman of the Busan Chamber of Commerce and Industry, is inspecting the site of BMT Co., Ltd. Photo by Busan Chamber of Commerce and Industry
Since September last year, Chairman Yang has been visiting sites in person to devise effective support measures, and on this day, two corporate policy cooperation officers from Busan City, dispatched by the Busan Chamber of Commerce, accompanied him.
BMT, which relocated from Yangsan to Busan in 2022, emphasized during the meeting the urgent need for regulatory improvements to support investment attraction for companies relocating to Busan.
Yoon Jong-chan, CEO of BMT, stated, “Companies that have relocated to Busan face difficulties due to regulations and entry barriers when receiving subsidies related to investment attraction,” adding, “It is crucial to ease these regulations so that excellent companies can flow into Busan and settle well.”
In response, Yang Jae-saeng, Chairman of the Busan Chamber of Commerce and Industry, said, “Relocated companies like BMT, which possess competitiveness, significantly contribute to revitalizing the local economy by creating jobs,” and expressed a strong determination to resolve the issue by stating, “The Busan Chamber of Commerce will actively collect opinions from companies on the ground to improve unnecessary regulations that hinder corporate attraction and will actively propose related matters to relevant agencies to ensure that companies relocating to Busan can conduct stable business activities in the region and seek support measures.”
BMT, listed on KOSDAQ, is a specialized fitting and valve manufacturing company founded in 1988, generating annual sales exceeding 100 billion KRW. In 2023, it received the Gold Tower Industrial Medal and the 50 Million Dollar Export Tower, among other awards.
The proposals made today will be actively submitted to Busan City and related agencies through collaboration between the One-Stop Corporate Support Center and the Policy Cooperation Officers operated by the Busan Chamber of Commerce.
Yang Jae-saeng, Chairman of the Busan Chamber of Commerce and Industry, and officials from BMT Co., Ltd. are posing for a commemorative photo. Photo by Busan Chamber of Commerce and Industry
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