BUSAN < invest Korea

According to Yonhap News,

(BUSAN=Yonhap News) The city of Busan is working with companies in the marine industry that are struggling as a result of the Fourth Industrial Revolution to revive the marine industry ecosystem.

On April 6, 12 organizations came together at the Paragon Hotel in Busan to kick off the "Maritime Industrial Revolution 4.0 Consortium," including Busan City, Korea Industrial Complex Corporation, Korea Maritime Institute, Korea Offshore & Shipbuilding Association, Busan Chamber of Commerce & Industry and the Busan Maritime Equipment Association.

The consortium will be lead by Busan's Ministry of Economic Affairs and will routinely share the latest maritime information and trends to coordinate a mutual understanding among industries. It will also convey any errors or suggestions of the industry to the government.

This is the first consortium of its kind with cooperation among the local government, companies and organizations.

A Busan City official remarked, "The maritime and shipbuilding industries are in a difficult position due to the world-wide recession. The purpose of the consortium is to work together with the entire maritime industry to restore the industry's ecosystem."

The opening ceremony for the consortium also included presentations and discussions on various topics such as "Entrepreneurial Spirit to Capture Opportunities in the Fourth Industrial Revolution" and "New Businesses from a Blockchain Perspective."

Professor Doh Duk-Hee of the Korea Maritime University said, "In order to create a virtuous cycle structure for the maritime industry, the shipping and shipping management business at the top and the shipbuilding and ship equipment industries at the bottom should be able to co-develop. I think the consortium is a great opportunity to revive the ecosystem."

lyh9502@yna.co.kr

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Source Text

** This article was translated from Korean.

Source: Yonhap News (Apr. 06, 2018)