BUSAN < invest Korea

According to Yonhap News,

Busan City said on June 7 that Busan International Finance Center (BIFC) receives applications from tenants willing to have an office in "Busan D-Space" on its 63rd floor.

Those who are to be tenants there including foreign financial institutions, can use about 10 sq. meters per person for free for 3-years. .

It can be extended up to 25 years based on business performance review, with various support such as consultation related to domestic finance industry, information on finance and investment, guide to foreign employees about domestic living and financial environment, and networking with other tenants in BIFC.

Those eligible for applications are foreign financial institutions moving in BFID with at least one person stationed all the time, foreign companies involved in Fintech, domestic and foreign venture capitals with more than KRW 5 billion fund investment in recent 3 years, and government/public/international institutions related to finance.

Excluded will be: a company (institution) already in business in Busan wants just to move an office; business office with frequent visit by customers and unspecified individuals; those who failed to pay national or local tax; and a company (institution) which wants to operate a cryptocurrency exchange.

Those who hope to move in are to submit applications and business plans, by registered mail or e-mail by June 2nd, 6p.m.

Busan city is to determin final tenants based on 1st document review followed by face-to-face review.

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Source:Yonhap News (June 7, 2021)