The Busan Metropolitan Government’s goal of fostering the Busan International Financial Center as a digital valley (D-VALLEY) is becoming a reality.
MacSub Consortium, the third stage of the Busan International Financial Center (BIFC2), announced on the 24th that 150 companies have completed their occupancy contracts as a result of pre-sale of 21 floors (5-21, 23-26)
that are being created for knowledge industry center purposes. BIFC2, which started construction on March 8, received promotional and pre-intention letters until May and received contracts mainly for real users for a month in June. As a result, 542 of the total 579 rooms completed the contract, with a contract rate of the contract rate.
According to the current status of contractors by region, 113 companies (75.3%) in Busan accounted for the majority, while 31 companies (20%) in Seoul and other metropolitan areas also accounted for the majority. Information and communication industries related to fintech,
blockchain, application software, and IT reached 50.7%, while companies related to technology support knowledge-based industries reached 49.3%. In addition, the total sales of companies scheduled to move in are 500 billion won, the total number of workers is 3,245, and the number of fintech and blockchain companies in line with the policies of the Busan Financial Industry, which aims to finance technology, is 1,282.
“More than 200 companies have submitted letters of intent to move in, but we have focused on selecting industries that meet the city’s policies and evaluating growth potential,” a MacSub Consortium official said. “The contracted companies responded positively to various tax benefits such as acquisition tax, Seomyeon area with many young people, and Busan International Financial Center.”
Synergy effects are also expected as they are linked to the city’s BUDS project to create a global financial ecosystem. The city plans to foster the Busan International Finance Center as a competitive digital innovation cluster following
Pangyo Techno Valley and Seoul Magok Valley by growing white-collar finance representing former public institutions and blue-collar finance symbolizing digital finance. To this end, the city created a blockchain cluster (BSpace), a fintech cluster (USpace), and a foreign financial institution cluster (DSpace) within the Busan International Financial Center, and a technology finance growth company cluster (SSpace) at the Busan Chamber of Commerce and Industry.
A city official said, “In the global financial city evaluation, Busan has been recognized for its competitiveness in technology finance such as fintech. We will focus our administrative power on the field and make it an economic center of Busan with 10,000 employees and 30,000 daily floating population within five years.”