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Busan's BuTX Hydrogen Rail Vehicle Highlights RailLog Korea 2023
The bustling port city of Busan has always been a strategic location, a nexus point where all logistics functions including rail, sea, air, and highway seamlessly blend. Today, it's also making a name for itself as the cutting-edge hub for railway technology and logistics in Northeast Asia. This development is being showcased at the currently ongoing RailLog Korea 2023, a globally competitive exhibition for railway technology, interior fittings, infrastructure, and logistics. Now in its 11th ed
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Looming Crisis in Busan's Real Estate Market: An In-depth Look at Jeonse System and its Implications
South Korea's coastal city, Busan, finds itself in the midst of an evolving crisis within its real estate market. A blend of an economic slowdown, coupled with a forthcoming wave of newly constructed apartments, is contributing to a significant decrease in property prices, thereby destabilizing the housing landscape. The manifestation of this turbulence is witnessed in the phenomena of "Reverse Jeonse" and "Busted Jeonse", which are causing concerns given their potential socio-economic ramificat
3 min read
Samsung Heavy Industries to Establish R&D Hub in Busan
Samsung Heavy Industries (SHI) is gearing up to establish a research and development (R&D) hub in the city of Busan. On the 12th, the company inked a Memorandum of Understanding (MOU) with the city of Busan concerning the construction of the 'Busan R&D Center'. Key stakeholders, including SHI President Jung Jin-taek and Busan Mayor Park Heong-joon, attended the signing ceremony. Under the agreement, Samsung Heavy Industries plans to move into a 1,700 square meter R&D hub in Busan by November. T
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The Dawn of the 'Dadaepo New Dream Plan'
The city of Busan is gaining momentum in its pursuit of balanced development, particularly through its 'Dadaepo New Dream Plan', a strategy aimed at revitalizing previously unused industrial sites. According to city and development sector sources, Sungchang Enterprise, a corporation that had previously been hesitant about redeveloping its 150,000 square meter property in Saha District, has recently started discussing potential development strategies with the city. This includes an intriguing pr
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Busan Showcases Cultural Delights in Paris in a Bid to Secure Expo 2030
Busan Metropolitan City has partnered with the Korean Cultural Center in France to present the "2023 Korean Festival – Taste Korea! - Busan Special Event" in Paris from May 30 to September 16, 2023. The annual event, celebrating its fifth year, puts a spotlight on a chosen theme, presenting Korean cuisine and outstanding cultural and artistic content to the local Parisian audience. The objective is to elevate interest in Korean culture and tourism through this massive cultural event. With the
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Seunghak Tunnel Project in Busan: Significant Step in Infrastructure Advancement
The City of Busan announced a signing ceremony for the 'Seunghak Tunnel Private Investment Project implementation agreement' in the City Hall. This ceremony signifies the endorsement of the Seunghak Tunnel project, marking a crucial step in its commencement. Both Mayor Park Heong-joon and President Yoon Young-joon of Hyundai Construction Co., Ltd. attended the event. With this agreement, the execution of the project, including the start of implementation design, will gain momentum. The 'Seungh
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Busan's Buk-gu District Mayor Oh Tae-won to Lose Position After Violating Election Act
Busan's Buk-gu District Mayor, Oh Tae-won, faces significant political repercussions following the court's sentencing over violations of the Public Official Election Act. After a fine of KRW 1.5 million was imposed on Mayor Oh on May 25th by the Criminal Trial Division 1 of the Western Branch of the Busan District Court, his position in office now hangs in the balance. As per the Public Official Election Act, an election stands nullified if the sentence, once confirmed, includes a fine exceeding
2 min read
Aging South Korean Workers Struggle With Economic Challenges and Limited Job Opportunities
A recent report indicates a growing trend of aging workers, particularly those in the 50-60 age bracket, enduring financial difficulties in retirement. Despite a desire to remain employed, the majority of jobs available to this age group are non-regular such as temporary or day labor jobs, which are lacking in job security and benefits. Experts argue that there is a pressing need to create high-quality job opportunities where this demographic can utilize their professional skills. According to
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Busan Gears Up for ‘A Sneak Peek at the Busan International Art Center: Classic Park Concert’ on June 3-4"
The bustling city of Busan is set to captivate its citizens with a riveting 'A Sneak Peek at the Busan International Art Center: Classic Park Concert'. The event is scheduled to take place at the picturesque Hayariya Lawn Square in the Busan Citizen Park, from 6:30 pm on June 3rd and 4th. This open-air classical concert is part of a strategic initiative to promote two of the city's upcoming cultural landmarks - the Busan International Art Center, which is expected to open its doors in 2025, and
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Busan Content Market, a Gateway for Asian Digital Media, Set to Open on May 31st
The 17th Busan Content Market (BCM), an annual event that has been bridging Asian nations via new media and fostering fresh channels of communication, is slated to kick off in Busan on May 31st. Since its inception in 2007, the BCM has undergone significant growth, transforming into a comprehensive content bazaar where each year, transactions exceeding $100 million are conducted. The event has successfully drawn participation from over a thousand companies across 50 countries, underlining its g
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Busan Showcases the 2030 World Expo at 2023 Korea Expo in Paris
Busan, South Korea - The city of Busan, in collaboration with the Korea Expo Organizing Committee, is set to operate a promotional booth for the 2030 Busan World Expo at the '2023 Korea Expo', from May 13 to 15 at the Parc des Expositions Porte de Versailles in Paris, France. The '2023 Korea Expo' serves as a platform for over 200 South Korean companies to showcase their diverse K-industries, aimed at expanding their businesses in the European region. The 2030 Busan World Expo promotional booth
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Gangseo-gu District Strongly Opposes Busan's Plan to Relocate Detention Center and Prison
Busan, South Korea - The city of Busan recently announced the formation of a site selection committee tasked with determining the relocation of the aging Busan Detention Center and Prison. However, the Gangseo-gu District, one of the leading candidates for the relocation, has expressed strong opposition to the city's decision. In response to the announcement, Gangseo-gu District Mayor Kim Hyeong-chan and the Gangseo-gu District Council held a press conference at the Busan City Council briefing
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