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"

On the 7th, at the Seoul President Hotel, Minister of Oceans and Fisheries Jongwoo Hwang (left) and Heung-a Shipping President Hwango Ihwan attended the announcement ceremony for the relocation of Heung-a Shipping headquarters to Busan. Ministry of Oceans and Fisheries

Heung-A Shipping is relocating 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, Heung-A Shipping announced at a ceremony held at the President Hotel in Seoul that it will move its headquarters to Busan by the end of the year. The event was attended by Heung-A Shipping CEO Lee Hwan-gu, Minister of Oceans and Fisheries Hwang Jong-woo, and others.

Founded in Busan in 1961, Heung-A Shipping became the first shipping company in Korea to be listed on the KOSPI in 1976. The company is recognized as a leading Korean shipping line specializing in the transport of special cargo, such as liquid petrochemical products. After relocating its headquarters to Seoul in 1986 for management efficiency, the company is now returning to Busan after nearly 40 years.

Heung-A Shipping plans to leverage the marine cluster-based industrial ecosystem following the relocation, aiming to grow into a global special vessel shipping company with a focus on eco-friendly large 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.

At the announcement ceremony for Heunga Shipping's headquarters relocation to Busan held on the 7th at the President Hotel in Seoul, Jongwoo Hwang, Minister of Oceans and Fisheries (left), and Hwango Lee, President of Heunga Shipping, are taking a commemorative photo. Photo by Ministry of Oceans and Fisheries

This decision is also in line with the government's ongoing policy to cluster shipping companies in Busan. The Ministry of Oceans and Fisheries expects that as shipping companies relocate to Busan, various synergies can be created in areas such as policy finance, research and development (R&D), talent acquisition, and industry-academia cooperation.

Minister Hwang stated, "I sincerely welcome and thank Heung-A Shipping for returning its headquarters to Busan after moving to Seoul in 1986. We will provide the strongest support possible to enhance the competitiveness of shipping companies relocating to Busan and will continue our efforts to establish Busan as a true maritime capital."

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