Busan is good

Park Heong-joon, Mayor of Busan, Meets with Michael Mainelli, Chairman of Z/Yen, UK — Establishing a Platform to Strengthen the Global Financial Network!

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Busan Metropolitan City (Mayor Park Heong-joon) announced that on October 29 at 9:30 a.m., Mayor Park met with Michael Mainelli, Chairman of Z/Yen in the United Kingdom, to discuss economic and financial cooperation and development between Busan and the UK.

Z/Yen, founded in 1994, is a leading private think tank in London’s financial district that provides consulting services on economics and finance for public institutions and private companies. The organization publishes global consulting reports evaluating cities worldwide through various indices such as the Global Financial Centres Index (GFCI), the Global Green Finance Index (GGFI), and the Smart Centres Index (SCI), which assess cities’ competitiveness in finance and digital innovation.

This year, Busan achieved remarkable results in Z/Yen’s evaluations, ranking 12th in the Smart Centres Index and 24th in the Global Financial Centres Index.

The meeting was arranged as Chairman Michael Mainelli—who has served as President of the London Chamber of Commerce and Industry and as Lord Mayor of the City of London, one of the world’s leading financial centers—visited Busan to deliver a keynote speech at the 12th Global Financial Forum and to tour Busan’s future development sites, including the North Port Redevelopment Area and Busan New Port.

During the meeting, Mayor Park Heong-joon remarked, “Busan has strengths in manufacturing sectors such as shipbuilding, automobile parts, and machinery. Building on this foundation, we are actively fostering new industries such as artificial intelligence, blockchain, and digital technologies. Recognizing the close connection between finance and industry, Busan has established the Future Industry Transition Fund and Venture Fund to support startup ecosystems and promote venture industries essential for advancing new sectors.”

In response, Chairman Michael Mainelli stated, “For Busan to evolve into a leading global financial city, it is crucial to enhance the city’s ‘connectivity’ through hosting international conferences, expanding direct flight routes, and strengthening networks related to the financial industry. When the financial sector combines with various fields such as science and technology, it can generate even greater synergy. Particularly, integrating with innovative industries such as artificial intelligence, blockchain, and quantum computing will provide Busan with significant potential to achieve global competitiveness.”

Mayor Park concluded, “Busan is now at the starting point of becoming a world-class financial hub city, with the relocation of the Korea Development Bank to Busan being a key objective. Given the importance of Z/Yen’s role in evaluating and strengthening Busan’s financial competitiveness, I sincerely ask for Chairman Mainelli’s continued interest and support.”