BUSAN < invest Korea

According to Yonhap News,

Busan Metropolitan City announced on September 27 that it had been ranked 33rd out of 126 international financial cities in the Global Financial Centers Index (GFCI).

It has move up three spots since March this year.

GFCI is published by the Z/Yen, a global think tank consulting firm located in London, UK, rating 126 global financial cities.

New York and London remained in first and second places, while Hong Kong and Singapore moved up one spot to third and fourth respectively.

San Francisco move up 7 spots to 5th place, and Los Angeles rose six spots to 7th place.

Among Korean cities, Seoul (13th) ranked highest, followed by Busan.

Since Busan first appeared in the GFCI rankings in 2014, the city jumped to 33rd place this time after being placed at 51st in the first half of last year, 40th in the second half of last year, and 36th in the first half of this year.

The city analyzed that its ranking moved up due to successful attraction of foreign financial institutions since December last year and creation of the BIFC63 global financial cluster.

wink@yna.co.kr

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Source:Yonhap News (September 27, 2021)