Introduction to Busan
- Why Busan
- Introduction to Busan
Busan, the Second Largest City in Korea
Busan, the Second Largest City in Korea and a gateway to the world, has a population of 3.46 million. With its warm climate and beautiful environment, Busan is cultivated by its citizens with passion and affection. Since the Korean War, Busan has repeatedly made remarkable development and has grown into a mecca of maritime logistics with world-class super ports, as well as becoming a gateway city to the Eurasian continent connected with the world. In addition, Busan stands shoulder to shoulder with many famous cities all over the world through the successful hosting of various international events. Also, it is a tourism city that people from all over the world continuously visit. In particular, Busan is constructing industrial systems that will lead the future—such as movies, visual contents, and finance—thus leaping toward becoming a city of affluence and a green city that always thinks of the environment.
From maritime industry, logistics, and cutting-edge visual contents industry toward the International Finance Center, Busan is the optimal and ideal city where the culture, industry, tourism, and IT industries are specialized in each district while coexisting with all other industries. Busan’s industrial structure is in the order of manufacturing, construction, followed by farming and fisheries, with the service industry at its center.
As of September 2022, the number of foreign-invested enterprises investing in Busan totals 598. Specifically, investment in service sector amounts to 71.1% (of which the wholesale and retail distribution makes up 58.8%) while investment in manufacturing industry stands at 27%, and others at 1.9%. In 2021, the city successfully attracted investments worth KRW 2 trillion and 168.5 billion from companies at home and abroad - ranging from global logistics companies such as Coupang, BFG Retail, and LX International to various industries of manufacturing, intellectual services and Biomedical healthcare - and created 8,362 jobs.