President Park Geun-hye said she will make Busan one of the leading financial cities of Asia. She said so in her congratulatory remarks during a ceremony to mark the completion of the Busan International Finance Center on August 22. She emphasized the extended role of Korea’s second largest city by saying, “I will strengthen the role of Busan as a financial hub of marine, shipping and derivative products.”
The Busan International Finance Center is a 63-story landmark which will house the key public corporations of the financial sector, including the Korea Exchange, the Korea Asset Management Corporation and the Korea Securities Depository.
“A marine finance office will also move in at the center next month,” said the president. The office she mentioned will provide a one-stop service in cooperation with the related bureaus of the Korea Development Bank, the Export-Import Bank of Korea and the Korea Trade Insurance Corporation. President Park said that a guarantee agency for shipping companies will be built in the city by the end of this year. She predicted that Busan’s status as a financial hub of marine and shipping will be raised thanks to the establishment of such shipping and marine finance institutions.
“The government will bolster Busan’s role as a center of derivative products by listing various financial derivatives through the Korea Exchange. We will also actively foster markets for general products such as oil, gold and carbon emissions,” said the president.
President Park emphasized the importance of the financial sector by saying, “Finance has a potential to make quality jobs. It is one of the most popular areas of the service industry in which youths hope to work.” She also said the finance sector is one of key parts of her creative economy vision.
The president expressed her hope, “Busan can be developed into one of the leading financial cities in Asia if we maximize its strength as an international logistics hub with strong industrial infrastructure and activate its financial functions specialized in marine and derivative products.”
By Yoon Sojung
Korea.net Staff Writer
arete@korea.kr
The Busan International Finance Center is a 63-story landmark which will house the key public corporations of the financial sector, including the Korea Exchange, the Korea Asset Management Corporation and the Korea Securities Depository.
President Park Geun-hye delivers congratulatory remarks during a ceremony to mark the opening of the Busan International Finance Center on August 22. (photos: Cheong Wa Dae)
“A marine finance office will also move in at the center next month,” said the president. The office she mentioned will provide a one-stop service in cooperation with the related bureaus of the Korea Development Bank, the Export-Import Bank of Korea and the Korea Trade Insurance Corporation. President Park said that a guarantee agency for shipping companies will be built in the city by the end of this year. She predicted that Busan’s status as a financial hub of marine and shipping will be raised thanks to the establishment of such shipping and marine finance institutions.
“The government will bolster Busan’s role as a center of derivative products by listing various financial derivatives through the Korea Exchange. We will also actively foster markets for general products such as oil, gold and carbon emissions,” said the president.
President Park emphasized the importance of the financial sector by saying, “Finance has a potential to make quality jobs. It is one of the most popular areas of the service industry in which youths hope to work.” She also said the finance sector is one of key parts of her creative economy vision.
The president expressed her hope, “Busan can be developed into one of the leading financial cities in Asia if we maximize its strength as an international logistics hub with strong industrial infrastructure and activate its financial functions specialized in marine and derivative products.”
President Park Geun-hye (center) cuts the tape at the opening of the Busan International Finance Center on August 22. (photo: Cheong Wa Dae).
President Park Geun-hye (second from right) looks out the window of the Busan International Finance Center on August 22. (photo: Cheong Wa Dae)
By Yoon Sojung
Korea.net Staff Writer
arete@korea.kr
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