- Agreement between Busan Finance Center and DIFC to strengthen global cooperation and develop the respective financial cities.
- Busan Finance Center to bolster its global projects and expand activities in the MEASA region through the agreement with DIFC.
Busan Finance Center (BFC) has signed an agreement with Dubai International Financial Centre (DIFC) to forge global cooperation between the Korean and UAE financial centres.
The agreement covers a wide range of areas including Environmental, Social, and Governance (ESG), trade finance, FinTech, joint webinars and collaboration on the future of finance.
Established in 2004, DIFC is the leading financial hub for the Middle East, Africa and South Asia (MEASA), which houses almost 28,000 professionals working across over 3,200 companies. BFC plans to expand its activities to the MEASA region by sharing information on local capital markets and bolstering its global projects.
Commenting on the agreement, Arif Amiri, Chief Executive Officer of DIFC Authority, said: “DIFC is always keen to collaborate with international financial centres to develop the positioning of our cities as global hubs for finance. We are delighted to work with Busan Finance Center on ESG principles, FinTech and other important areas that will help shape the future of finance in the UAE, Korea and across the globe. DIFC is looking forward to helping Busan Financial Center and their clients expand here so they can capitalise on our strong track record of facilitating trade and investment flows across the MEASA region.”
Jong Hwa Kim, President of BFC, commented: “We expect to gain deep insights into where Busan should head to become a financial hub, by actively benchmarking the growth model of DIFC, which has been a standard setter in international finance,” and added that “We will also share best practices in FinTech and innovation, which are key areas of focus for DIFC.”
