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Busan Metropolitan City Convenes the “Busan Financial Hub Development Council Meeting” to Discuss Strategies for Advancing the Financial Hub

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Busan Metropolitan City (Mayor Park Heong-joon) announced that it will hold the “Busan Financial Hub Development Council Meeting” today (December 2) at 2:00 p.m. in the main conference hall of the Bank of Korea Busan Branch, with the aim of promoting substantive exchanges and cooperation to revitalize the Busan financial hub.

The meeting will be chaired by Mayor Park Heong-joon and attended by 14 institutions, including tenant organizations of the Busan International Finance Center (BIFC) such as Korea Asset Management Corporation and Korea Securities Depository, as well as related financial institutions including the Busan Chamber of Commerce and Industry and the Financial Supervisory Service Busan-Ulsan Regional Office.

During the meeting, the city will present “Key Policy Achievements and Priority Tasks for the Busan Financial Hub” to share policy direction with participating institutions and provide time to discuss development strategies for the financial hub.

Since the launch of the 8th municipal administration, Busan has established a legal foundation as the Financial Opportunity Development Zone and has taken the lead in creating the three major Busan-type innovation mother funds: the Busan Future Industry Transition Fund, the Busan Future Growth Venture Fund, and the Busan Innovation Scale-up Venture Fund.

• ●Busan Future Industry Transition Fund: The first mother fund established by a local government to support small and medium-sized enterprises (SMEs) and mid-sized companies (551.0 billion KRW as of June 2025), to be created annually over the next nine years (2.3 trillion KRW total), accelerating an industrial shift toward high-value-added new industries

• ●Busan Future Growth Venture Fund: The first region-led mother fund and the largest ever outside the Seoul metropolitan area (1,011.0 billion KRW as of June 2024), recognized as an excellent cooperative model with Korea Development Bank

• ●Busan Innovation Scale-up Venture Fund: The first local government to establish a 1-trillion-KRW-scale venture mother fund for two consecutive years (1,011.0 billion KRW as of August 2025), designed to support corporate scale-up and expansion

In addition, efforts to establish the Busan Digital Asset Exchange have contributed to building a global hub city where capital, talent, and technology circulate, and these achievements have led to Busan reaching its highest-ever ranking of 24th in the Global Financial Centres Index (GFCI).

Mayor Park Heong-joon stated, “Next year will be a pivotal year for Busan as it rises as a global hub city, and with the relocation of the Ministry of Oceans and Fisheries to Busan, it will mark the inaugural year of ‘Ocean Capital Busan,’ a new national growth axis.” He added, “The city will continue strengthening cooperation with participating institutions and do its utmost to ensure the financial hub establishes itself as a central pillar leading the region’s future,” requesting continued interest and collaboration.