Busan is good

Busan Modern and Contemporary History Museum and the Bank of Korea Busan Branch Join Forces to Promote Busan’s Financial History

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The Busan Modern and Contemporary History Museum (Director Kim Ki-yong, hereinafter referred to as "the Museum") and the Bank of Korea Busan Branch (Chief Lee Han-nyeong) announced that they signed a Memorandum of Understanding for Mutual Cooperation Regarding the Bank of Korea Archive Room on April 25 at 11:30 a.m. at the Bank of Korea Busan Branch.

This MOU aims to effectively combine the expertise and resources of both institutions to jointly contribute to local community development by utilizing the Bank of Korea Archive Room, located in the main building of the Museum (formerly the Bank of Korea Busan Branch), which preserves important traces of Busan’s modern and contemporary history and the history of Korean finance.

Through this agreement, the two institutions plan to cooperate closely in various initiatives, including exhibition projects in the Archive Room and promotional activities for the Bank of Korea Busan Branch using the space.

The Museum plans to:

• ●Activate the space of the Archive Room located in the eastern vault on the first floor of the main building,

• ●Revamp exhibitions,

• ●And distribute promotional materials in collaboration with the Bank of Korea.

The Bank of Korea Busan Branch plans to:

• ●Support the exhibition environment by providing exhibits and promotional items (such as souvenirs made from obsolete currency),

• ●And use the Archive Room for activities like the remodeling of the Currency Exhibition Room (scheduled for June 2025) and promoting key programs like Friday lectures.

Meanwhile, Busan City purchased the former Bank of Korea Busan Branch building (located in Jung-gu, Daecheong-dong) from the Bank of Korea in 2015 and has operated it as a museum since opening the Busan Modern and Contemporary History Museum in January 2024.

The building was constructed in 1963 on the site of the former Joseon Bank and is notable for its sturdy structure and scale, befitting its function and status as a central bank branch at the time.

For approximately 60 years, until the Bank of Korea Busan Branch relocated to the Munhyeon Financial Complex in July 2013, the building played a crucial role in:

• ●Supporting financing for local small and medium-sized enterprises,

• ●Currency supply, exchange, and management,

• ●Regional economic research and surveys,

• ●And providing economic education.

Busan City is actively utilizing the building as a key historical and cultural hub in the city center and as a base for revitalizing the local economy by preserving its historical value.

Lee Han-nyeong, Chief of the Bank of Korea Busan Branch, stated,

"We are deeply pleased to be able to more effectively promote the history and role of the Bank of Korea Busan Branch to citizens through our cooperation with the Busan Modern and Contemporary History Museum.
We will continue to actively engage with and contribute to the local community."

Kim Ki-yong, Director of the Busan Modern and Contemporary History Museum, stated,

"Through this meaningful collaboration with the Bank of Korea Busan Branch, which has played a central role in Busan's modern and contemporary financial history, we will further develop the Archive Room into an attractive historical and cultural space and strive to provide citizens with more beneficial educational and cultural experiences."