Table of Contents
- Significance of the Completion of BIFC Phase 3
- BIFC Phase 3 Completion Ceremony and Facility Overview
- Concentration of Financial Public Institutions | Korea Securities Depository, HF, and KIB
- Impact on Local Economy and Digital Finance Ecosystem
- Conclusion | Leap to Become the Digital Finance Hub of South Korea
- Frequently Asked Questions (FAQ)
Significance of the Completion of BIFC Phase 3
The Busan International Finance Center (BIFC) Phase 3 development project has been completed and full operations have commenced. This completion is considered a significant turning point that goes beyond simply increasing office space, as it integrates diverse ecosystems in areas such as digital finance, fintech, and maritime finance.
In particular, there have been many positive reactions regarding the increased completeness of the financial cluster centered around the Munhyeon Financial District. It is expected to significantly contribute to strengthening Busan's status as a financial hub.
BIFC Phase 3 Completion Ceremony and Facility Overview
The City of Busan held the BIFC Phase 3 completion ceremony at the Busan International Finance Center on January 29, 2026, at 2 PM.
This facility consists of 5 underground floors and 45 above-ground floors, with a total area of approximately 146,000 square meters, serving as a mixed-use space. It is designed to integrate a knowledge industrial center, office facilities, and open spaces for citizens.
Currently, the entry of over 170 companies has been confirmed, including more than 30 foreign companies, with about 4,000 people expected to work here.
Concentration of Financial Public Institutions | Korea Securities Depository, HF, and KIB
In the Phase 3 office facilities of BIFC, major financial public institutions such as the Korea Securities Depository, Korea Housing Finance Corporation, and Korea Technology Finance Corporation will be located.
This will not only improve the issue of office space shortages but also lead to integrated operations of financial policy, financing, and technical financing, offering synergistic effects. Furthermore, the hosting of the International Hydrographic Organization (IHO) infrastructure center is expected to strengthen cooperation between the financial and maritime sectors.
Impact on Local Economy and Digital Finance Ecosystem
The completion of BIFC Phase 3 will have a significant impact on the local economy. The production inducement effect is expected to reach approximately 1.0495 trillion won, creating 5,376 job opportunities. Additionally, 4,311 jobs are projected to be generated.
The cooperation between companies residing in financial public institutions and the knowledge industrial center is expected to increase demand in related industries such as financial services, consulting, IT, and education.
In particular, through collaboration with the blockchain special zone and financial opportunity development zone, BIFC is expected to establish itself as a center for the implementation and commercialization of digital finance.
Lastly, the remaining site is planned for BIFC Phase 4, which will be a project for an 80-story building with an area of 16,860 square meters. This development is expected to positively affect the local economy.
Conclusion | Leap to Become the Digital Finance Hub of South Korea
The completion of BIFC Phase 3 is regarded as an important milestone that enhances Busan's role as a financial hub.
Through this project, the concentration of financial public institutions, digital technology companies, and maritime finance infrastructure has laid a foundation for Busan to solidify its position as South Korea's digital finance hub.
If the attraction of anchor companies and support programs for resident companies accelerate in the future, the growth rate of the financial and industrial ecosystem centered around the Munhyeon Financial District is also expected to increase.
#Busan International Finance Center, #BIFC, #BIFC Phase 3, #Munhyeon Financial District, #Busan Financial Hub, #Digital Finance, #Fintech, #Knowledge Industry Center, #Financial Public Institutions, #Korea Securities Depository, #Korea Housing Finance Corporation, #Korea Technology Finance Corporation, #Busan Economy, #Busan Development, #Busan Urban Planning, #Financial Cluster, #Blockchain Special Zone, #Financial Opportunity Development Zone, #Busan Jobs, #Busan Future, #Busan SOC, #Busan Infrastructure, #Busan Finance, #Busan Policy, #Busan Growth, #Busan Innovation, #Busan News, #Busan Investment
Frequently Asked Questions (FAQ)
Q. What is the main significance of the completion of the Busan International Finance Center (BIFC) Phase 3?
The completion of BIFC Phase 3 is a significant turning point for the integration of various financial ecosystems, including digital finance.
The completion of the BIFC Phase 3 development project signifies more than just an expansion of office space. This completion serves as a critical opportunity for the integration of financial ecosystems in various areas such as digital finance, fintech, and maritime finance, establishing a new financial hub. Additionally, the completeness of the financial cluster centered around the Munhyeon Financial District is expected to further strengthen Busan's status as a financial hub.
Q. What is the size and configuration of the BIFC Phase 3 facility?
It consists of 5 underground floors and 45 above-ground floors, with a total area of approximately 146,000 square meters.
BIFC Phase 3 has a structure of 5 underground floors and 45 above-ground floors, with a total area of about 146,000 square meters. It is designed to organically combine a knowledge industry center, office facilities, and open spaces for citizens, and approximately 170 companies have confirmed their residency, including over 30 foreign companies, with about 4,000 employees expected to work here. This is a significant point for the expansion of Busan's financial infrastructure.
Q. Which financial public institutions will be located in BIFC Phase 3?
The Korea Securities Depository, Korea Housing Finance Corporation, and Korea Technology Finance Corporation will be located there.
The Phase 3 office facilities of BIFC will house major financial public institutions like the Korea Securities Depository, Korea Housing Finance Corporation, and Korea Technology Finance Corporation, thereby alleviating the problem of office space shortages. This is expected to result in an integrated operation of financial policy, financing, and technical financing, and the hosting of the International Hydrographic Organization (IHO) infrastructure center is expected to enhance cooperation between the finance and maritime sectors.
Q. What impact will the completion of BIFC Phase 3 have on the local economy?
It is expected to create approximately 1.0495 trillion won in production effects and 5,376 employment opportunities.
The completion of BIFC Phase 3 will have a significant ripple effect on the local economy, leading to approximately 1.0495 trillion won in production inducement effects and creating 5,376 direct jobs along with 4,311 additional employments. As cooperation among companies residing in financial public institutions and the knowledge industry center is strengthened, demand in various related industries such as financial services, IT, and education is expected to increase. Moreover, collaboration with the blockchain special zone and financial opportunity development zone will make it a center for the commercialization of digital finance.
Q. What are the development plans for BIFC Phase 4?
There are plans to construct an 80-story building covering approximately 16,860 square meters.
The remaining area of BIFC is scheduled for the Phase 4 development project, which plans to construct an 80-story building with a total area of approximately 16,860 square meters. Phase 4 is expected to positively impact the local economy and contribute to accelerating the growth rate of the financial and industrial ecosystem, further enhancing Busan's role as a financial hub.
Q. What impact will the completion of BIFC Phase 3 have on Busan's role as a financial hub?
It is a significant milestone in solidifying Busan's position as a digital finance hub.
The completion of BIFC Phase 3 is regarded as a crucial milestone that further develops Busan's function as a financial hub. The concentration of financial public institutions, digital technology companies, and maritime finance infrastructure has established a foundation for Busan to solidify its position as South Korea's digital finance hub. If the attraction of anchor companies and support programs for resident companies accelerate in the future, the growth rate of the financial and industrial ecosystem centered around the Munhyeon Financial District is expected to increase even further.
