Heunga Shipping Returns to Busan After 40 Years... "Headquarters Relocation to Be Completed by Year-End"

Relocation Ceremony Held Today in Busan
Anticipating the Benefits of the Maritime Cluster
Minister Jongwoo Hwang: "Active Support for Enhancing Competitiveness of Relocating Companies"

At the announcement ceremony for the relocation of Heung-A Shipping headquarters to Busan, held on the 7th at the President Hotel in Seoul, Hong Jongwoo, Minister of Oceans and Fisheries (left), and Lee Hwangu, President of Heung-A Shipping, are posing for a commemorative photo. Photo by the Ministry of Oceans and Fisheries

Heunga Shipping will relocate its headquarters to Busan for the first time in 40 years, in line with the government’s policy to cluster the maritime industry.

On July 7, at the President Hotel in Seoul, Heunga Shipping held a ceremony to announce the relocation of its headquarters and stated that it would complete the move to Busan by the end of the year. The event was attended by Hwangoo Lee, President of Heunga Shipping, Jongwoo Hwang, Minister of Oceans and Fisheries, and other officials.

Founded in Busan in 1961, Heunga Shipping became the first shipping company in the domestic industry to be listed on the Korea Exchange (KOSPI) in 1976. It is recognized as a leading Korean shipping company specializing in transporting special cargo such as liquid petrochemical products. The company moved its headquarters to Seoul in 1986 to improve management efficiency and, after about 40 years, is now returning to Busan.

Heunga Shipping plans to leverage the industrial ecosystem centered around the maritime cluster in Busan to grow into a global shipping company focused on large, eco-friendly specialized vessels. Busan is home to major maritime organizations—including the Ministry of Oceans and Fisheries, Korea Ocean Business Corporation, Korea Maritime Institute (KMI), and Korean Register (KR)—as well as concentrated port and logistics infrastructure.

This decision also aligns with the government’s ongoing policy to cluster shipping companies in Busan. The Ministry of Oceans and Fisheries expects that relocating shipping companies to Busan will generate synergies across various fields, including policy finance, research and development (R&D), workforce acquisition, and industry-academia cooperation.

Minister Hwang stated, “I sincerely welcome and thank Heunga Shipping for returning its headquarters to Busan after having moved to Seoul in 1986. We will provide the utmost support to enhance the competitiveness of shipping companies relocating to Busan, and we will continuously strive to establish Busan as a true maritime capital.”

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