BUSAN < invest Korea

According to Yonhap News,

(BUSAN=Yonhap News) Busan seeks to make another leap-frog as a financial hub of North East Asia as it marks the 10th anniversary of the state designation as a key financial hub.

Busan city, jointly with Korea Institute of finance, held a seminar to market the 10th anniversary of the state designation of a Busan district as a key financial hub at Busan International Finance Center on February 15.

At the event, Chairman Choi Jong-ku of Financial Services Commission delivered an opening speech, titled "Innovative growth of finance and challenges facing Busan financial hub."

Then, Director Mark Yeandle of Z/YEN, a global consulting firm, made a presentation titled "global competition for financial hub and the way forward for Busan", followed by discussion on how to develop Busan financial hub in the coming decade.

In the afternoon session, discussions followed on the role of public financial institutions to develop Busan financial hub, and the establishment of Busan International Finance Promotion Agency (tentatively), reinforcing the functions of Busan International Financial City Promotion Center.

Busan city aims to raise the share of the financial industry from current 6% (of GRDP) to 10% in a decade by facilitating the financial industry based on the real economy such as the ocean, industrial, and logistics economies.


joseph@yna.co.kr

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Source Text

** This article was translated from Korean.

Source: Yonhap News (February 14, 2019)