Busan News

Busan, the second largest city in South Korea, is currently facing a critical situation due to several factors, including a persistent outflow of residents, a low birth rate, and an aging population. The current total fertility rate in Busan is 0.8, resulting in a population decline that is cause for concern. The Busan region is particularly vulnerable to this demographic trend, and its future is uncertain. In light of this, the city has acquired a new nickname: "The Old Man and the Sea." This n

During the "Busan Metropolitan University and Regional Talent Development Support Council" meeting held on March 16 at Busan City Hall, representatives from the Education Office, local universities, the business community, and innovation organizations attended as Busan Metropolitan City shared its intention to participate in the Regional Innovation System & Education (RISE) program, a higher education innovation strategy initiated by the South Korean government. During the meeting, participants

Busan City has been selected for the "K-Digital Platform Project" by the Ministry of Employment and Labor. The project includes an investment of up to 3 billion won (about $2.5 million US dollars) over the next five years to create a Digital Convergence Training Center in the city. The goal is to foster digital talent and support the development of digital capabilities, including training professionals in new digital technologies and providing education for residents and employees to adapt to ch

On February 15th, the Busan City and the Busan Foundation for International Cooperation had their second regular meeting of the "G-Busan Roundtable" at the Busan Development Institute. The roundtable is a consultative body that acts as a communication channel and advisory role for major internationalization organizations in Busan. In the meeting, they discussed how to win the 2030 World Expo bid and coordinate efforts to pass the Bureau International des Expositions (BIE) inspection in April. Th

Busan City and Gyeongnam-do Province in South Korea have taken a major stride towards administrative integration, with the inaugural meeting of the Busan-Gyeongnam Administrative Integration Working Committee on February 15th. This development follows formal discussions on administrative integration between the two local governments, which were initiated in October 2022. The committee is composed of eight officials, each director serving as a co-leader. Its objective is to supervise the overall

The COVID-19 pandemic has had a significant impact on the way people work and travel. As we move towards a post-pandemic world, it is evident that travelers are seeking more personalized, authentic, and diverse experiences. Here, we take a closer look at some of the latest Korea's travel trends. The Rise of Short-Term Stays and Staycations With remote work becoming more popular, people are opting for longer stays of up to a month or shorter stays of 5-6 days. This allows for more personalized

The Busan Metropolitan City has unveiled its ambitious plans to develop branding services for the Busan Opera House and Busan International Art Center, in preparation for the full-scale opening of the venues. The services, which include the development of institutional names, business strategies, images, slogans, and characters, mark a significant step forward in promoting the cultural landscape of Busan. Dubbed the "Busan Opera House and Busan International Arts Center Brand Development" servi

The historic Pier 1 of Busan Port in South Korea is at the center of a debate over whether it should be granted cultural heritage status. The pier has played a significant role in Busan's history, serving as a transportation hub for migration, trade, and Japan's invasion of Korea. During the Korean War, it was a crucial site for transporting refugees and war materials. The pier's cultural significance is intertwined with Busan's economy, labor, and migration, making it an integral part of the ci

Busan Metropolitan City announced on April 14th, 2023, that it will sign an investment memorandum of understanding(MOU) with a total of six companies, including three tech-focused firms - Panasia, DOUZONE BIZON, and Wedit. The investment agreement signing ceremony will be attended by Busan Mayor Park Hyung-joon and top executives from each of the participating companies. Panasia, an eco-friendly energy equipment specialist renowned in the global market, has been steadily growing with a strong p

The National Tax Service (NTS), the overarching authority for national tax revenue, has a total of 140 tax offices under its jurisdiction, including its headquarters in Sejong City and seven regional tax offices. Each of these tax offices has a unique role to play in the collection of tax revenue based on factors such as the local population and economic strength. At the end of December 2021, the NTS collected 334 trillion won in tax revenue, and the question on everyone's mind was which of the

Busan, located in the southeast of South Korea, is a city known for its rich cultural heritage, stunning beaches, and its position as a hub for business and trade. The city's strategic location provides it with access to the China Economic Zone, Japan Economic Zone, Yellow Sea Zone, and Trans-Taiwan Sea Zone, making it an ideal location for businesses looking to expand into the Asia-Pacific region. Investment in Manufacturing : A Growing Manufacturing Industry Despite the decrease in foreign

The government of Korea has announced that it will resume the issuance of short-term visas to travelers from China. The decision comes after noting the improved COVID-19 situation in China and following an anti-virus meeting on Friday. The move marks the end of a long-standing restriction that had caused tensions between Seoul and Beijing. In December, China abruptly ended its stringent "zero-COVID" policy, leading to a surge of infections and raising the prospect of millions of Chinese travele