Busan News

On the evening of June 22nd, local time, Busan City announced it had signed a Friendship and Cooperation Agreement with Koper City at the Town Hall in Koper, Slovenia. Koper is not only Slovenia's largest port city but also the leading maritime logistics gateway for Central and Eastern Europe. Situated on Slovenia's short Adriatic coastline, Koper's strategic geographical position, convenient rail facilities connected to its port, and non-freezing harbor even in mid-winter have made it the port

The race to host the World Expo 2030 has been narrowed down to a three-way contest between Busan (South Korea), Rome (Italy), and Riyadh (Saudi Arabia). The Bureau International des Expositions (BIE), the governing body responsible for overseeing World Expos, officially confirmed the trio on the 20th. War-torn Odesa, Ukraine, has regrettably been withdrawn from the race. At the 172nd BIE General Assembly, the final three candidates were selected via member nation voting. The selection was based

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

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

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

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

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

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

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

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