Busan Accelerates Towards Global Hub Status with Comprehensive Innovation Agenda

Busan, South Korea - In a significant move to transform Busan into a global hub, Mayor Park Heong-joon convened the first expanded executive meeting of the second half of the 8th term. This meeting, held at 9:00 AM in the City Hall's main conference room, gathered over 60 high-ranking officials, including department heads, district and county deputy heads, and leaders of public corporations and institutions.

The central theme of the meeting was the comprehensive promotion of Busan as a global hub city. The discussions delved deeply into Busan-specific population policies and strategies to enhance regional vitality. Mayor Park emphasized the urgency for all municipal resources to be mobilized to deliver tangible benefits to the citizens of Busan. He highlighted that the "Global Hub City" initiative is already in motion, with the city's infrastructure, industry, and human resource capabilities playing crucial roles in achieving rapid results and innovative population policies.

The meeting outlined several key initiatives. Firstly, the designation of Busan as a Financial Opportunity Development Zone on June 25 offers various incentives, such as tax support and regulatory exceptions, aimed at attracting businesses. Plans are in place to nurture a foundation for financial firms through corporate support, identifying special cases, and facilitating corporate attraction, coupled with academia-industry linked workforce training.

Moreover, Busan aims to attract international firms in sectors like ICT, knowledge services, film and video content, and convergent materials. The focus is on developing the Centum 2nd area into an advanced industrial hub and youth employment center. In the realm of global design, the city's aesthetic transformation is a priority. This involves an elevated and systematic implementation of citizens' lifestyle aesthetics, with efforts to secure aesthetic unity across city and public institutions.

The discussion also addressed population policy and regional vitality, spanning six key areas: employment, youth, family, shrinking society, super-aging, and balanced and inclusive growth. Initiatives include structural population strategies focused on improving quality of life and regional vitality, comprehensive evaluations of existing policies, and the development of localized statistics and urban indicators.

Specific measures highlighted include enhancing youth policies to attract and retain young talent and implementing customized housing policies for stable residential environments, particularly targeting the youth and new residents. Regional branding and new industry development in collaboration with public and private sectors are also key to fostering sustainable local ecosystems.

In addition, efforts to enhance the local economy and community engagement were emphasized. Initiatives such as supporting local commercial districts and festivals, developing joint brands, and promoting tourism through the revitalization of traditional markets and neighborhoods were discussed. The city is also focusing on age-friendly development, with plans to establish "Haha Centers" by 2026 across 62 living zones to enhance community engagement and social participation for the active senior population. The expansion of "Our Neighborhood ESG Centers" across 16 districts aims to create sustainable jobs linked to environmental and elderly needs.

Mayor Park reiterated Busan's growing reputation, noting the city's recognition as the 6th happiest city in Asia for two consecutive years and its ranking as the top city in the nation for children's quality of life. He stressed that innovation should resonate across all public sectors, driving collective progress. Concluding the meeting, Mayor Park called for thorough disaster preparedness, particularly against summer floods, and a crackdown on price gouging to enhance Busan's image as a premier tourist city. He urged public officials to see themselves not just as implementers but as key drivers of the city's strategic direction.