Busan City Ranks 36th in Global Financial Centers Index... Climbs 4 Steps Despite COVID-19

Among 126 Global Financial Cities, New York Ranks 1st, Followed by London, Shanghai, and Hong Kong... Seoul Ranks 16th

Global Major Countries International Financial Center Index.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Where does Busan rank among the world's financial cities? Busan Metropolitan City (Acting Mayor Lee Byung-jin) saw its Global Financial Centres Index (GFCI) rise 4 places from 40th in September last year to 36th.

The "Global Financial Centres Index" is sponsored by the City of London, the financial center of London, and is evaluated and published twice a year in March and September by Z/Yen, a global think tank and consulting organization.

As the most influential index in the global financial market, the GFCI index attracts the attention of advanced countries worldwide and consistently shows a fierce zero-sum game among financial cities, with fortunes rising and falling based on the results.

In this evaluation, New York ranked highest, followed by London, Shanghai, Hong Kong, and Singapore. Seoul ranked 16th.

Busan continues its upward trajectory following last year.

In December last year, Busan attracted attention by hosting six overseas financial companies on the 63rd floor of the Busan International Finance Center (BIFC), a landmark of the financial hub Busan.

These efforts by Busan and its movement toward becoming a global financial hub have been positively evaluated by overseas financial officials.

Additionally, the upward trend is expected to continue through ▲ the third phase development of the Busan International Finance Center expanding infrastructure to continuously attract overseas financial institutions ▲ focused nurturing of the fintech industry leveraging the strengths of the blockchain special zone ▲ strengthening overseas marketing through the Busan Financial Promotion Agency (BFC).

Busan plans to continue advancing as an Asian financial hub by using the momentum of large-scale development financial demands such as the realization of the Gadeokdo New Airport, integrated development of the North Port, and the promotion of the Southeast Mega City.

Acting Mayor Lee Byung-jin of Busan said, “Despite the adverse effects of economic recession and polarization caused by COVID-19, we have significantly strengthened overseas marketing through newspaper advertisements in foreign daily papers, CF broadcasts, and Google website ads to promote Busan as a financial center,” adding, “We will strive to establish Busan as an Asian financial hub city.”

This content was produced with the assistance of AI translation services.