Busan Secures 2026 WAIFC Annual Meeting

Busan, South Korea — Busan has been selected to host the 2026 World Alliance of International Financial Centers (WAIFC) annual meeting, a significant step toward solidifying its status as a global financial hub. The announcement came during the 2024 WAIFC annual meeting held in Tokyo, where Busan’s bid received the backing of international financial leaders, beating out other potential contenders.

The event, scheduled for 2026, will bring together top financial executives from around the world, offering Busan a valuable opportunity to showcase its financial infrastructure and ambitions.

Founded in 2018 and headquartered in Brussels, Belgium, the WAIFC serves as a collaborative network for international financial centers, fostering cooperation and the exchange of information between members. Its annual meetings have been hosted in prestigious cities like Abu Dhabi, Dubai, and Tokyo, each benefiting from the global attention and investment opportunities such events bring.

The decision to host the WAIFC meeting in Busan marks a rare opportunity for the city to position itself alongside these financial powerhouses. It’s a chance to demonstrate its readiness to serve as a financial bridge between East and West, especially as the global market becomes more interconnected.

Busan's successful bid to host the 2026 WAIFC meeting is a result of strategic initiatives and recent achievements. At the heart of these efforts is the designation of Busan as a Special Financial Opportunity Zone. This special status has allowed the city to offer unique incentives for financial institutions, including tax benefits, streamlined regulations, and state-of-the-art infrastructure designed to attract both domestic and international investors.

Additionally, the ongoing third-phase development of the Busan International Finance Center (BIFC) has been a pivotal element in the city's strategy. With cutting-edge office spaces and facilities tailored for financial firms, the BIFC is set to become a key anchor for Busan’s expanding financial sector. The planned relocation of the Industrial Bank of Korea (IBK) to Busan further underscores the city’s commitment to strengthening its financial ecosystem.

"Hosting the WAIFC annual meeting is a milestone that underscores Busan’s growing role as a financial hub not only in Korea but across Asia," said Park Heong-joon, the Mayor of Busan. "We are committed to building on this achievement by enhancing our financial infrastructure and expanding global partnerships."