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Busan Ranks 22nd Worldwide in the Global Financial Centres Index (GFCI), Achieving Its Highest-Ever Ranking

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Busan Metropolitan City, led by Mayor Chun Jae-soo, announced that Busan ranked 22nd among 117 financial cities worldwide in the Global Financial Centres Index (GFCI), a leading benchmark measuring the financial competitiveness of major cities around the world.

The ranking is based on the Global Financial Centres Index 40 (GFCI 40) report released by Z/Yen, a UK-based financial consultancy group, and was officially announced yesterday, September 16, at the BIFC Global Finance Symposium held at Nurimaru APEC House.

Busan rose one place from 23rd in the Global Financial Centres Index 39 (GFCI 39) report released in March, achieving its highest ranking since first entering the index in 2014. Its rating also increased by 11 points from 726 in the previous assessment to 737.

In particular, Busan climbed 15 places from 37th in March 2023 to 22nd in September this year. It has remained within the global top 30 for six consecutive assessments since March 2024, continuing its overall upward trend.

Within the Asia-Pacific region, Busan ranked ninth, following cities including Hong Kong, Singapore and Shanghai.

Busan’s Historical GFCI Rankings Since 2018

Busan’s ranking changes: 37th in the first half of 2023 → 27th in the first half of 2024 → 24th in the first half of 2025 → 23rd in the first half of 2026 → 22nd in the second half of 2026

Busan Metropolitan City attributes the latest rise in its ranking to the positive impact of its sustained efforts to expand financial infrastructure and develop maritime and digital finance ecosystems.

The city has strengthened the foundation for growth in the financial industry by expanding the capacity to accommodate financial institutions through completion of Phase 3 of the Busan International Finance Center (BIFC), designating the Munhyeon Financial District and the North Port area as Financial Opportunity Development Zones, and expanding policy funds.

These policy funds include the Busan Future Growth Venture Fund, Busan Innovation Scale-up Venture Fund and Busan Future Industry Transition Fund.

In addition, Busan is expanding its maritime finance ecosystem by pursuing the relocation to Busan of the Ministry of Oceans and Fisheries, HMM, and the headquarters of other maritime and shipping-related institutions and companies, while attracting global shipbroker Clarksons Korea and Waterline Partners, an asset management firm specializing in maritime finance.

The city is also enhancing the competitiveness of its digital finance industry. The KDX consortium, which includes Korea Exchange and Koscom, has obtained preliminary approval for Korea’s first over-the-counter exchange for fractional investment products, while Busan continues to operate the Busan Blockchain Regulation-Free Special Zone.

Mayor Chun Jae-soo said, “Achieving Busan’s highest-ever ranking in the Global Financial Centres Index is a meaningful accomplishment demonstrating the city’s steady growth as a global financial center.”

He added, “Building on the development of the Arctic shipping route, we will strengthen Busan’s financial capabilities to support maritime industries, including ship finance, marine insurance, eco-friendly ships and fuels, and investment in port infrastructure. We will also expand the concentration of domestic and international maritime financial institutions and companies around the Busan International Finance Center, with the goal of becoming a top 20 global financial center and one of the top five financial centers in Asia by 2030.”