News
Busan's steady rise in global finance
BIFC in Nam-gu.
Busan now ranks 25th among 121 cities in the Global Financial Centres Index 36, a prominent ranking of the world's financial hubs by the London-based commercial think-tank and venture firm Z/Yen. The GFCI is a key resource for policy and investment decision-makers.
Busan's 25th-place standing marks its highest position on the index since 2020. The city's steady climb － from 51st in 2020, 36th in 2021, 30th in 2022, 33rd last year, and to 27th earlier this year － was highlighted in the latest GFCI update presented by Z/Yen on Sept. 24 at Nurimaru APEC House during an international symposium hosted by the Busan Finance Center.
This upward trajectory underscores Busan's emerging role in the robust Asian financial landscape. Hong Kong, Singapore, and Shanghai secured the 3rd, 4th, and 8th positions, while Seoul, Dubai, Beijing, and Tokyo each placed in the top 20. Globally, New York and London remain the top-ranked financial hubs.
Busan's ranking reflects its potential as a financial center and its designation as a special financial opportunity development zone, a status aimed at promoting regional economic balance. Additionally, the anticipated passage of the Special Act on the Establishment of Busan as a Global Hub City by Congress is expected to strengthen its standing as an innovative financial destination.
Recently, Busan has made investments in digital finance, notably the launch of the Busan Digital Asset Exchange, to further underscore its commitment to becoming a prominent global financial hub.
<Vocab Spotlight>
prominent: 눈에 띄는
trajectory: 궤적
underscore: 밑줄, 밑줄을 치다
robust: 견고한, 탄탄한