The Battle of Busan of 1592, or the Battle of Busanpo (Battle of Busan Bay) (釜山浦 海戰) was a naval bombardment of anchored Japanese ships at Busan. I Sunsin managed to destroy over 100 Japanese ships and retreated with minimal casualties.
Meanwhile reconstruction of the Joseon fleet brought its strength up to 166 vessels. With this fleet I Sunsin and I Eokgi set sail from Yeosu on 29 September. Won Gyun's small flotilla joined them the following day and together they advanced towards Busan. They reached the estuary of Nakdong River on 4 October and received news of 500 Japanese vessels anchored at Busan.
On 5 October, the Koreans caught a strong eastern wind and reached the waters of Busan, where they encountered some Japanese vessels. These were caught and destroyed, 24 in all.
In Busan harbor they found 470 Japanese ships. As they approached them, the Japanese jumped from their ships and rushed to fortifications on the heights overlooking the shore. The Korean ships fired on the Japanese fleet and burned them using fire arrows while the Japanese fired on them from above in their forts. Even with cannons captured at Busan, the Japanese did little damage to the Korean warships. By the time the day had ended, 130 Japanese ships had been destroyed. I Sunsin gave orders to withdraw, ending the battle.
Although I Sunsin originally planned to return the next day and continue attacking, he realized to do so would be to trap the Japanese in Korea. Instead he imagined a complete victory with the Japanese forced into their ships and destroyed at sea. So he disbanded the fleet on 6 October and headed back home for resupply.
^James B. Lewis, The East Asian War, 1592-1598 ; International relations, violence, and memory, Routledge Press, 126p (2014)
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