High-End Mixed-Use Business Complex 'Busan BIFCⅡ' to Open in December, Surpassing Gangnam

Mixed-Use Business Facility "BIFCⅡ" Set for Completion in December
Rising Interest in Government-Backed Properties Drives Future Value

Amid the current real estate market, where the government's stringent regulatory policies have become the most significant variable, cities designated as "Opportunity Development Zones"-which offer both regulatory easing and tax benefits-are drawing intense attention from both end-users and investors.

Unlike investments in regulated areas that go against market trends, these zones are viewed as opportunities to enjoy all the benefits of government revitalization support policies, while also anticipating an increase in future value.

The Ministry of Trade, Industry and Energy designated 14 cities and provinces nationwide as Opportunity Development Zones in June and November 2024. The planned corporate investment in these zones is expected to reach up to 74.3 trillion won, and companies moving in will receive various tax incentives and regulatory relief.

An industry official stated, "With government support policies, we expect a significant increase in the relocation of companies to Opportunity Development Zones in each region, which could be a major boon for local commercial districts and real estate markets. However, for successful investment, it is important to thoroughly check whether companies have actually moved in or have concrete plans to do so."

The market is particularly focused on Busan, which is the only city designated as a financial special zone in the service sector.

Twenty-nine financial companies are making investments totaling 1.4 trillion won, further enhancing Busan's reputation as an emerging global financial city.

Especially noteworthy is the "BIFCⅡ," a mixed-use business facility being constructed in the Munhyeon Financial District, which is set for completion in December this year as part of the Financial Opportunity Development Zone, with the list of tenant companies gradually being released.

Confirmed tenants include BNK System, BNK Capital, BNK Credit Information, Busan Bank-all subsidiaries of BNK Financial Group-along with Korea Technology Finance Corporation (Kibo), Korea Securities Depository, and Korea Housing Finance Corporation. Other public enterprises are also in discussions to move in upon completion. In addition, about 170 financial firms and small and medium-sized enterprises based in Busan have signed contracts and are preparing to move in.

Interest is also growing as rare business facilities such as offices and knowledge industry centers are being developed together in Busan. Companies of various sizes, from small businesses to one-person enterprises, will be able to move in, and the application of tax reductions (acquisition tax and property tax) for knowledge industry centers and policy fund support is expected to lower the initial financial burden.

"BIFCⅡ" will be a high-end business complex befitting its status as a financial special zone, located in Busan International Financial Innovation City, with five basement floors and 45 above-ground floors totaling 146,857 square meters. It will house offices, knowledge industry centers, and support facilities. Notably, the entire 22nd floor will be dedicated to hotel-grade amenities for tenant company employees, including seminar rooms, two large conference rooms, seven medium-sized meeting rooms, four small meeting rooms, various concept gardens, screen golf, a seminar room, a fitness center, and a large lounge.

The excellent location offers convenient transportation, with Busan Subway Line 2's International Financial Center Busan Bank Station about a three-minute walk away, and Beomnaegol Station on Line 1 about five minutes away. Easy access to E-Mart, the post office, and Munhyeon Community Center is another advantage.

A representative of the project stated, "With its striking and sophisticated exterior design, the ultra-high-rise BIFCⅡ, reaching up to 45 floors, will become a landmark as soon as it opens in December this year. Its excellent location and product competitiveness are attracting a continuous stream of inquiries from companies."

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