"Support for 20 Companies in Trade Delegations to China in the First and Second Half of the Year"
Busan City is targeting the Chinese market with eco-friendly shipbuilding equipment.
Busan City (Mayor Park Hyungjun) announced on the 18th that, together with the Busan Marine Equipment Association (Chairman Choi Geumsik), it will support market development for local small and medium-sized shipbuilding equipment companies by dispatching a total of 20 companies to Shanghai and Dalian, China, in the first and second half of this year, respectively.
Amid rising uncertainty in the trade environment due to recent US-China tariff conflicts, shipbuilding and marine equipment, as well as other ship-related items, are drawing attention as promising export products.
Busan City plans to send a market development delegation of 20 companies to Shanghai, the world’s largest shipbuilding equipment market (May 27-30), and Dalian (August 20-23), and hold one-on-one export consultation meetings.
Eligible companies are local SMEs with export sales of less than $30 million in the previous year. Among the applicants, 10 companies for each destination will be selected based on a comprehensive evaluation of product suitability, local marketability, and export capacity. Selected companies will receive support for participating in one-on-one buyer meetings, interpretation services, and 50% of round-trip airfare.
During the dispatch period, there will also be opportunities to visit major local shipyards and promote regional products to purchasing managers.
Pre-marketing will be conducted for more than one month targeting buyers secured by local trade offices and partner organizations. After the consultation meetings, follow-up support such as additional consultations and sample testing will be provided to buyers who engaged in meaningful discussions, aiming to increase the transaction success rate.
China has maintained its position as the world’s largest shipbuilder in terms of both construction and orders for 13 consecutive years. In addition, as demand for eco-friendly and low-carbon facilities has become a major issue in the shipbuilding industry, China is increasing its global sourcing ratio, making Busan companies with technological competitiveness attractive partners.
Companies wishing to participate in the Shanghai trade delegation can submit their application and required documents for selection evaluation through the city’s overseas marketing integrated system by April 22. Recruitment for the August Dalian trade delegation will be announced separately at a later date.
Since 2019, Busan City has been supporting local eco-friendly shipbuilding equipment companies in maintaining and expanding business channels with large Chinese shipyards and agents, leveraging their technological advantages to enter the Chinese market.
After a six-year hiatus due to COVID-19 and other reasons, Busan City is resuming its Shanghai business channels this year to pursue long-term cooperation. The 2024 Dalian trade delegation achieved 112 export consultations and secured or promoted contracts worth $1.15 million (approximately KRW 1.63 billion).
Kim Bongcheol, Director of Digital Economy at Busan City, emphasized, "Shanghai and Dalian are key hubs of China’s shipbuilding and marine industry, where demand for eco-friendly and smart ships has recently surged. Through this trade delegation, we aim to promote the outstanding technology and product competitiveness of local companies in the world’s largest shipbuilding market and secure opportunities for market leadership."
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