Busan News

The triple impact of inflation, a high exchange rate, and high-interest rates have put many companies in Busan under financial strain, with some facing short-term liquidity risks. Recently, the Busan Chamber of Commerce and Industry (BCCI) released the results of its 'Emergency Management Status' survey, targeting local listed companies in the manufacturing, service, and construction industries with sales of over 50 billion won. The survey revealed that 84.9% of respondents reported negative ef

The Busan World Expo 2030 Bid Committee held its third meeting on Friday, March 10th, at the Four Seasons Hotel in Seoul. The meeting, co-chaired by Prime Minister Han Duck-soo and Chey Tae-won, Chairman of the Korea Chamber of Commerce and Industry(KCCI), discussed the detailed plans for this year's bidding activities. The meeting aimed to unite the public and private sectors' bidding capabilities ahead of the decision on the 2030 World Expo host site in late November. The committee's focus wa

The city of Busan has secured the hosting rights for the 2024 World Volunteer Conference, the world's largest event in the field of volunteerism. The announcement was made following a selection process conducted by The Committee for the IAVE World Volunteer Congress, which saw Busan emerge as the top choice among a list of cities vying to host the prestigious event. Busan's successful bid was a result of the city's ability to highlight its attractiveness, such as its infrastructure for internat

The sluggish sales market in Busan has resulted in construction companies shifting their focus toward government projects, in search of stable construction costs and reduced risks. As a result, the latest offering by the Busan Metropolitan Corporation for private operators has garnered significant attention from at least six companies, including Hyundai Engineering & Construction, Taeyoung E&C, and Kumho E&C, all of which are expected to participate in the upcoming competition. The project will

Busan Museum of Art will showcase the "My Young & Sad Day" exhibition from March 10 to August 6, 2023, featuring the original works of Busan-based emerging artists. The exhibition will be held in the grand exhibition room on the third floor of the main building and will introduce over 70 new works across various mediums, including painting, media, installation, and video. The exhibition is a representative program of the Busan Museum of Art, which has been discovering and introducing talented l

Busan, located in the southeastern part of the Korean peninsula, has always been a crucial gateway to South Korea, with its extensive port and easy access to Southeast Asian countries. However, the language barrier remains a significant challenge for foreign visitors and residents, hindering the city's potential as a global hub. Although Busan has made efforts to promote itself as an international city, many of its residents still struggle with English, the universal language of business and com

Busan's Yeongdo-gu district is facing a serious depopulation crisis, raising concerns among local policymakers and residents alike. The district's population decline is most severe in the original city center, with Yeongdo-gu being the closest to what an aging Busan may look like in the future. This trend could have severe long-term consequences for the city's economic activity, social cohesion, and public services. According to a recent academic paper published in the Journal of Tourism Manage

Busan, the second-largest city in South Korea, is facing a population decline crisis due to a sharp outflow of young people and a declining birth rate. The lack of quality job opportunities and career prospects for the city's residents is a major contributing factor to the population decline. Despite the city's efforts to revitalize the economy through tourism-based industries, the reliance on low-wage, low-welfare jobs is not a sustainable solution for the city's long-term economic growth and s

Busan City, South Korea is following the trend of sustainable building certification for apartments by selecting seven "2022 Green Apartments" to promote carbon-neutral living. The Green Apartment Certification System has been implemented since 2011 for apartment buildings with more than 150 units to reduce greenhouse gases in the non-industrial sector. The apartments are evaluated based on 10 items, including quantitative indicators such as electricity, water, and gas savings rate, recycling se

Busan City has welcomed 14 foreign reporters in Korea to showcase its plans and preparations for the 2030 Busan World Expo. The press tour aimed to demonstrate the strengths and attractions of Busan as a candidate city for the 2030 World Expo to foreign reporters before the Bureau International des Expositions (BIE) on-site inspection in early April. Prime Minister Han Duck-soo, Busan Mayor Park Heong-joon, the government, the Bid Committee, and key executives of Busan City attended the event.