Busan News

Busan, South Korea - On April 17, the city of Busan announced that it had held a ceremony at the city hall's International Conference Room to renew the "Agreement on Friendship Exchange Items" with Japan's Nagasaki Prefecture. Since signing the Friendly and Cooperative City Agreement on March 25, 2014, Busan and Nagasaki have been reviewing and renewing their friendship exchange items annually in various fields such as culture, tourism, education, and economy to strengthen substantive cooperati

The City of Busan announced today that it will sign a Memorandum of Understanding (MOU) with MJY Partners Co., Ltd. and Busan Economic Promotion Agency for a 600 billion KRW investment to construct a comprehensive logistics center in Busan New Material General Industrial Complex. The signing ceremony will be held at 11 a.m. in the video conference room on the 7th floor of the City Hall, with Mayor Park Heong-joon and Jin Yang-hyun, the 5th President of the Promotion Agency, in attendance. Accor

Busan, South Korea - A recent study has revealed that eight out of sixteen districts and counties in Busan have a regional deprivation index higher than the national average. The regional deprivation index, an indicator used to assess socioeconomic deficiencies within specific geographical areas, suggests that half of Busan's local governments exhibit high levels of deprivation. Moreover, the number of districts with an above-average regional deprivation index has doubled in the past decade, spa

Busan City has announced plans to hold a Regional Specialized Visa Project Information Session on April 13 at 2 p.m. in the first-floor conference room of the Busan City Hall. The event targets foreign students, local universities, and companies interested in participating in the program, with the aim of resolving the local talent shortage and encouraging the settlement of international students in the region. The information session, scheduled before the recruitment of regional talent via the

The City of Busan announced today the launch of the "Busan Coffee City Forum" at Momo's Roastery & Coffee Bar in Bongnae-dong, Yeongdo-gu. The forum, consisting of around 100 members from academia, industry associations, and coffee industry stakeholders, aims to promote sustainable growth and create a thriving ecosystem for the coffee industry in Busan. As a major logistics hub, Busan is responsible for distributing over 93% of imported coffee products in Korea. The city's advantageous location

South Korea has recently announced a significant reduction in property transfer restrictions as a response to the country's housing imbalances and to address the challenges faced by both buyers and sellers in the real estate market. The Ministry of Land, Infrastructure, and Transport has revealed that the new regulations will be effective from the 7th of this month. The Property Transfer Restrictions system prevents the sale, transfer, or brokering of certain properties before a designated peri

BUSAN, South Korea - As a leading contender to host the 2030 World Expo, the city of Busan is poised to showcase cutting-edge technology, environmental sustainability, and global inclusivity. The city's ambitious plans for the expo highlight South Korea's commitment to innovation, cooperation, and cultural exchange. Hosting the World Expo is expected to have a transformative impact on Busan, with lasting economic and infrastructural benefits. The focal point of Busan's bid is the large-scale re

BUSAN, South Korea - A delegation from the Bureau International des Expositions (BIE) arrived in South Korea on April 2nd to assess Busan's potential to host the 2030 World Expo. The delegation will inspect the proposed exhibition site at Busan North Port and engage in discussions with key government, corporate, and National Assembly stakeholders. The eight-member delegation includes BIE Administration and Budget Committee President Patrick Specht from Germany, BIE Secretary-General Dimitri S.

Seoul - A delegation from the Bureau International des Expositions (BIE), the world's top intergovernmental organization overseeing world expositions, touched down at Incheon International Airport on Sunday. Led by BIE Administration and Budget Committee President Patrick Specht, the envoys arrived to assess Busan and Korea's ability to successfully host the 2030 World Expo. Upon arrival, the delegation checked in at The Shilla Seoul in central Seoul. Their itinerary includes meeting with minis

The South Korean government is expediting the second phase of the North Port project, with a new target completion date set for 2027—two years ahead of the original schedule. The Ministry of Oceans and Fisheries, along with the Busan Port North Port Redevelopment Integrated Development Project Team, are working diligently to streamline administrative procedures and initiate construction by the first half of 2023. The accelerated timeline aims to prepare the site for the prestigious 2030 Busan Wo

In early April, the city of Busan, South Korea, will host numerous events expressing the city's desire to host the 2030 World Expo, in conjunction with the International Expo Bureau's inspection team visit. The events are aimed at highlighting the enthusiasm of Busan's citizens and showcasing the city's preparations. Busan Mayor Park Heong-joon announced that various events, reflecting the city and its districts' efforts in urban environment improvement, safety management, transportation, and p

The Busan city announced that the construction of a tunnel connecting the neighborhoods of Eomgung-dong in Sasang-gu district and Jungang-dong in Jung-gu district is set to commence in 2024, with an expected completion date of 2029. The Seunghak Tunnel project, a private investment initiative, recently passed the deliberation of the Ministry of Economy and Finance's Private Investment Project Review Committee. Following the designation of project implementers in mid-April, the city government w