Busan rose 4 steps from 36^th in Sep. 2020 to 40^th in March 2021 on the Global Financial Centres Index 29 (GFCI 29). A global think-tank and consulting body sponsored by City of London, Z/yen evaluates international finance centers every March and September.

 Busan has been on a steady upturn since March 2020 from 51^st (1H20) to 40^th (2H20), and has risen to 36^th in the 1^st half of 2021. The rise can be attributed to 1) attraction of foreign financial institutions with expanded infrastructure, 2) focus on incubating FinTech industry at blockchain regulation-free zone in Busan, and 3) stronger marketing activities through Busan Finance Center.

 Other positives include large-scale infrastructure projects including Gadeokdo New Airport, Busan New Port, and plans for integrating 3 adjacent provinces (Busan, Ulsan, Gyeongsangnam-do province) into 1 mega city.

 This article was first published on May 13, 2021.