Busan International Finance Promotion Agency and Korea Housing & Urban Guarantee Corporation Sign Agreement on Developing Local Communities and the Financial Industry

[The Financial News] The incorporated Busan International Finance Promotion Agency (BFC), led by President Lee Myung-ho, is joining forces with the Korea Housing & Urban Guarantee Corporation (HUG), led by President Choi In-ho, to actively advance Busan’s development as a financial center and promote balanced regional development.
The Busan International Finance Promotion Agency said on the 21st that it signed an MOU on the 20th at the main conference room of the Korea Housing & Urban Guarantee Corporation on the 19th floor of the Busan International Finance Center in Munhyeon-dong, to promote balanced development of the local community and the financial industry.
The agreement came about as the Korea Housing & Urban Guarantee Corporation, a key relocated public corporation in Busan’s Munhyeon Financial Complex, established a strategic partnership with the Busan International Finance Promotion Agency, which supports Busan’s development as a financial center and the revitalization of the financial industry.
The two organizations agreed to combine their respective financial expertise and human and material resources to expand Busan’s financial ecosystem and energize the local economy.
Under the agreement, they plan to pursue practical cooperative projects in stages, from identifying joint policy initiatives and conducting specialized research to holding global forums and seminars.
The partnership is expected to become a leading model for a relocated public corporation working with a local specialist institution to achieve tangible results in balanced regional development.
The Busan International Finance Promotion Agency is an incorporated association established in 2020 through a public-private partnership to develop Busan into an international financial center. The Korea Exchange, KSD, Korea Asset Management Corporation, Korea Housing Finance Corporation, Korea Ocean Business Corporation, Busan Bank, Korea Technology Finance Corporation, Koscom and Busan Metropolitan City participate as member organizations. The agency promotes policies, attracts financial institutions, develops the financial ecosystem, and conducts research and studies.
Busan International Finance Promotion Agency President Lee Myung-ho said, “Cooperation with HUG (pronounced ‘hug’), which has extensive experience and expertise in policy finance in the housing and urban finance sector, will be an important catalyst for the development of Busan’s financial industry.” He added, “I hope this agreement will provide an opportunity for the two organizations to identify a range of cooperative projects to advance the financial industry and, further, contribute to revitalizing Busan as a financial center and developing the local economy.”
 
[email protected] Byeon Ok-hwan Reporter