Busan City Holds First Meeting with BIFC Tenant Institutions, Cooperates to Revitalize Financial Hub

[Financial News] A gathering will be held to foster practical business exchanges and cooperation to revitalize Busan’s financial hub. 
Busan City said it will hold a meeting of the Busan Financial Hub Development Council in a seminar room on the 22nd floor of the Busan International Finance Center (BIFC II) on the morning of the 13th. 
The meeting, chaired by Mayor Jeon Jae-soo, will be attended by 16 organizations, including BIFC tenant institutions such as the Korea Asset Management Corporation and the Korea Securities Depository, as well as finance-related organizations such as the Busan Chamber of Commerce and Industry and the Busan-Ulsan Support Office of the Financial Supervisory Service.
This is the first meeting with BIFC tenant institutions since the launch of the ninth popularly elected administration.
The city plans to share key policies for Busan’s financial hub and strengthen practical business exchanges and cooperation among tenant and related institutions.
Since Busan was designated a financial hub in 2009, the city has successfully attracted major state-run financial institutions, including the Korea Asset Management Corporation, the Korea Securities Depository and the Korea Housing Finance Corporation, and helped them establish a presence. With the completion of the third phase of BIFC in December last year, the city continues to recruit high-quality tenant companies.
The city also launched the Development Council in 2015 to maximize communication and synergies among financial institutions, and continues to operate it.
Mayor Jeon said, “The role of finance in supporting shipping, ports and logistics is important to opening up the future of Busan, the maritime capital,” adding, “I expect Busan’s financial hub to become even more competitive when the expertise and networks of the financial institutions gathered in Busan are connected with one another.” 
[email protected] Kwon Byeong-seok Reporter