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Z/Yen is publishing today its Focus On Busan 2024, providing an update on developments in the Busan Finance Center (BFC). BFC is a member of Z/Yen’s Vantage Financial Centres network. The aim of this update is to provide readers with news about developments in Busan’s business and financial services activity.
Since 2009, Busan Metropolitan City has been developing a financial services hub specialising in maritime finance and derivatives. With its strategic location in the centre of an economic bloc in South-East Korea and the crossroads of a global logistics route, Busan envisions growing into an international financial city in Northeast Asia.
BFC sets and implements strategies to develop Busan into an international financial city, by fostering Busan as the financial hub and promoting the financial industry. BFC was established as an incorporated association through the efforts of the city of Busan and seven local financial institutions and companies as founding sponsors. The main mission of BFC is to promote Busan as a financial hub and bolster the financial industry in Busan, by developing and implementing strategies to foster Busan into an international financial city and conducting mid-to-long term finance-related surveys and research. BFC works to:
- Promote relevant policies.
- Attract financial institutions.
- Create a financial ecosystem.
- Conduct research and study into Busan’s development model as a financial hub.
- Facilitate internal and external cooperation.
