Pan Ocean and Sinokor Merchant Marine may join other South Korean shipping companies in relocating to Busan, after Jeon Jae-soo, a member of the ruling Democratic Party and former Minister of Oceans and Fisheries, was elected as Busan’s new mayor.
Jeon was elected on 3 June, with 50.5% of votes counted.
Many shipping companies, originally based in Seoul, are being encouraged to move to Busan to fulfil President Lee Jae-myung’s pledge to revitalise the port city into the country’s maritime capital.
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