This analysis was presented during the 14th Busan International Financial Forum. It outlines the rationale for introducing a common law system—such as English or American law—to support Busan’s development as a global financial hub. The report emphasizes that leading financial centers like London, New York, and Singapore operate under common law, which offers greater predictability and flexibility in financial transactions compared to Korea’s civil law system. By adopting a common law framework—either in designated zones or through specialized dispute resolution mechanisms—Busan could improve legal familiarity and build trust among foreign investors, thereby enhancing its global competitiveness. The document also explores potential implementation models, including partial application within financial districts and collaboration with international legal experts.

Souce: 
https://www.kbfc.or.kr/kor/index.php?pCode=research2025&mode=view&idx=2193