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Busan climbs to 22nd in Global Financial Centres Index, a new high
Busan placed 22nd of 117 cities in the Global Financial Centres Index, its highest ranking since joining the index in 2014.
The GFCI 40, published by U.K. consultancy Z/Yen, was announced Sept. 16 at the BIFC Global Finance Symposium.
The city rose from 23rd in March's GFCI 39, and its score climbed 11 points to 737. It has gained 15 places since March 2023 and has stayed in the global top 30 for six consecutive evaluations. In the Asia-Pacific region, it ranked ninth.
City officials attribute the rise to continued investment in financial infrastructure and growth in maritime and digital finance.
Busan International Finance Center
Busan North Port
Completion of Phase 3 of the Busan International Finance Center has expanded space for financial institutions, and the Munhyeon Financial District and North Port area have been designated Financial Opportunity Development Zones. The city is also building up policy funds for venture investment and industrial transition.
In maritime finance, the Ministry of Oceans and Fisheries, HMM and other shipping-related institutions have relocated to Busan. Global shipbroker Clarksons Korea and maritime asset manager Waterline Partners have also established a presence in the city.
In digital finance, the KDX Consortium, which includes the Korea Exchange and financial IT firm Koscom, became the first in the country to receive preliminary approval for an over-the-counter exchange for fractional investment products. The city also operates the Busan Blockchain Regulation-Free Special Zone.
A Busan City official called the ranking "a meaningful accomplishment demonstrating the city's steady growth as a global financial center." He said Busan aims to rank among the world's top 20 financial centers and Asia's top five by 2030, with planned investment in ship finance, marine insurance and green shipping for the emerging Arctic route.