Busan Achieves Highest-ever Ranking (24th) and Score (728 points) in Global Financial Centres Index
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Busan Achieves Highest-ever Ranking (24th) and Score (728 points) in Global Financial Centres Index
◈ Z/YEN, a global think tank and consulting group, announced the GFCI results on March 20, at 18:00 KST.
◈ The Global Financial Centres Index ranked Busan 24th among 119 financial cities, scoring 728 points—jumping one spot (14 points) from the previous assessment.
◈ In the Fintech Index, Busan ranked 23rd among 115 financial cities, jumping three spots from the previous assessment.
◈ The improved ranking is attributable to expectations surrounding the establishment of a digital financial ecosystem and Busan’s development as a global hub city, reaffirming its competitiveness in the digital finance industry.
◈ Mayor Park Heong-joon stated, “By focusing on the advancement and expansion of digital finance, and leveraging two legislative frameworks—the Global Hub City Special Act and the Financial Opportunity Development Special Zone, Busan will become one of the world’s top 20 and Asia’s top 5 financial cities by 2030.”
□ Busan Metropolitan City (Mayor Park Heong-joon) has reached a historic milestone, securing 24th place out of 119 cities in the Global Financial Centres Index, with a record-breaking score of 728 points.
○ Z/YEN, a UK-based think tank and consultancy, released the Global Financial Centres Index 37 on March 20, 2025, at 18:00 KST (09:00 GMT), assessing the financial competitiveness of 119 cities worldwide.
□ Despite global financial challenges, Busan has demonstrated its best performance since 2015, making a significant leap from 37th in March 2023. Since the first half of 2024, Busan has proudly retained its position in the top 20.
○ Busan is the 9th most financially robust city in Asia, following Hong Kong, Singapore, Shanghai, Dubai, and Tokyo.
<Ranking over the Past Two Years>
※ 37th (2023 H1) → 33rd (2023 H2) → 27th (2024 H1) → 25th (2024 H2) → 24th (2025 H1)
□ Busan’s ongoing transformation has been fueled by its designation as a Financial Opportunity Development Special Zone by the central government in June 2024, as well as the Global Hub City Special Act, currently in progress. The Financial Opportunity Development Special Zone is expected to attract both domestic and international financial firms. The Global Hub City Special Act will position Busan as one of Korea's core financial hubs, alongside Seoul.
□ Busan’s steady rise in rankings is a direct result of numerous entrepreneurial initiatives.
○ [Venture Fund] In late 2024, the Future Growth Venture Fund was launched with 300 billion won in capital, increasing its share of national venture funding from 2.3% (2023) to 2.8% (2024). In February 2025, Busan was selected for the Ministry of SMEs & Startups' Regional Era Venture Fund, with plans to establish a 200 billion won fund by year-end.
○ [Busan Industrial Transition Green Fund (tentative name)] A 2.3 trillion won fund, set over the next nine years, will assist small and medium-sized enterprises in entering new markets, boosting business growth, strengthening competitiveness in future industries, and improving the corporate value of key manufacturers.
○ [Entrepreneurial Environment] In 2024, Busan opened the Busan Technology Startup Investment Institute to provide systematic and professional support for local startups. The city was also chosen for the Ministry of SMEs & Startups' Global Startup Hub project and is poised to develop a world-class entrepreneurial and cultural complex, ‘Korean Station F,’ at Pier 1 of Busan Port's Bukhang.
□ Busan also ranked 23rd among 115 global financial cities in the Fintech Index, climbing three spots from the previous evaluation. The Busan Digital Asset Exchange, founded in December 2024, operates under a private-led public model in Korea's only blockchain regulation-free zone and has helped to catalyze the city’s strength within the digital finance sector.
○ The Busan International Financial Center is set to complete its third phase by December 2025, building a digital finance valley that integrates fintech, blockchain, artificial intelligence, investment, and guarantee services, all based on fourth industrial technologies.
□ Mayor Park stated, "To elevate Busan as a global financial powerhouse, we will prioritize the development and expansion of digital finance, including the full-scale operation of the Busan Digital Asset Exchange. By promoting the Financial Opportunity Development Special Zone, we will forge a thriving financial ecosystem and unite businesses, talent, and capital. Through bold incentives, regulatory exemptions, and the expedited passage of the Global Hub City Special Act, we will draw leading corporations specializing in logistics, finance, and cutting-edge sectors. Our ultimate goal is to join the top 20 globally and the top 5 in Asia by 2030."
