Busan City announced on November 12 (local time) that Mayor Jeon Jae-soo visited London—a global center for the shipping and maritime services industries—to discuss international cooperation in maritime arbitration, the shipping industry, and maritime jurisprudence.

The visit was designed to benchmark the UK's maritime dispute resolution systems and related industry growth experiences, as well as to foster Busan's maritime knowledge-service industry ahead of the opening of the Busan Maritime International Commercial Court in March 2028.

Recognizing that London integrates shipping companies, maritime arbitration, specialized courts, and legal, financial, and insurance services, the city explored ways to link Busan's port and logistics infrastructure with high-value professional service industries.

Key Institutional Visits and Cooperation

London Maritime Arbitrators Association (LMAA): Mayor Jeon met with LMAA President Jonathan Elvey and other officials to propose expanded cooperation in international maritime arbitration. Busan suggested launching joint international conferences tied to regional organizations like the Asia-Pacific Maritime Arbitration Center (APMAC), establishing memorandums of understanding (MOUs) for ongoing exchange, and strengthening practical capabilities through mock arbitrations.
UK Chamber of Shipping: Meeting with President Karrie Trauth and CEO Rhett Hatcher, Mayor Jeon discussed the eco-friendly and digital transition of the shipping industry, global talent cultivation, and continuous collaborative channels. Proposed initiatives include industry exchanges through expositions and internship programs connecting local universities with British shipping firms.
Admiralty Court of England and Wales: Mayor Jeon conferred with Senior Judge of the Admiralty Court Andrew Baker and Judge in Charge of the Commercial Court David Waksman. The discussions focused on sharing the UK's operational expertise to ensure the successful opening and early establishment of the Busan Maritime International Commercial Court, including joint seminars, legal information sharing, and academic cooperation.

Fostering a High-Value Maritime Knowledge-Service Ecosystem

Building on this London visit, Busan plans to cultivate a maritime knowledge-service ecosystem combining its robust port and logistics foundation with legal, arbitration, financial, and insurance services. By leveraging upcoming milestones such as the new maritime court and the activation of Arctic routes, the city aims to elevate the overall competitiveness of its shipping sector.

"London's growth into a global maritime center stems from an integrated ecosystem connecting shipping with arbitration, law, finance, and insurance," Mayor Jeon stated. "We will combine Busan's world-class port competitiveness with enhanced maritime legal, arbitration, and professional service capabilities, alongside specialized talent development, to leap forward as a global maritime city."

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