Busan Chamber of Commerce marks 137th anniversary

The Busan Chamber of Commerce held a ceremony Monday morning at its second-floor international conference hall to mark the organization's 137th anniversary.

The chamber traces its origins to the Busan Gaekju Commercial Law Company, established July 19, 1889, to protect Korean merchant interests. After operating under successive names — the Dongrae Chamber of Commerce and the Busan Korean Chamber of Commerce — it took on its modern form in 1946 and has since served as the city's leading comprehensive economic organization.

Over that span, the chamber spearheaded the founding of several regional enterprises, including Busan Bank (1967), Busan City Gas (1980), Busan Life Insurance (1988), Jeil Investment Trust (1989) and Air Busan (2007). It also led efforts to attract Samsung Motors and the Korea Futures Exchange to the city, secure the lifting of development restrictions on roughly 33 million square meters in Gangseo-gu, and push through special legislation for Gadeokdo New Airport.

More recently, as discussions around establishing Busan as a "global maritime capital" have gained momentum, the chamber has continued to submit recommendations and policy proposals to the central government, Busan city hall and relevant agencies — calling for the relocation of the Ministry of Oceans and Fisheries to Busan, the attraction of major shipping companies, and preparations for the coming era of Arctic shipping routes.

Those efforts are bearing fruit: the Ministry of Oceans and Fisheries relocation is already underway, and major shipping firms — including SK Shipping, H-Line Shipping, HMM and Heung-a Shipping — are moving to Busan. The planned opening of the Busan Maritime and Commercial International Court in 2028 is further expanding the foundation for Busan's ambitions as a global maritime capital.

"For 137 years, the Busan Chamber of Commerce has grown alongside the Busan economy with one goal: helping local businesses thrive," Chairman Yang Jae-saeng said. "As the most trusted economic organization and policy partner connecting business voices to policy, we will lead the way in supporting the AI industry transition, resolving corporate difficulties and improving the investment environment." He added, "Let us build a Busan Chamber of Commerce where everyone takes pride and grows together."