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Busan saw magnificent economic growth until the late 1970s with light industries such as shoe, textile and plywood leading the growth. Since then, the city has been working relentlessly to reorganize its industry. A good example would be the selection of and deep investment in the ten strategic industries with great growth potential for leading the economy of Busan. These initiatives are part of a broader vision for the port city: to develop into a central nexus of global exchange serving as a major hub for logistics, information, finance and tourism in the Pacific Rim. As a result of past immense efforts, the city has become one of the ten best cities in the Asia Pacific region to do business.

Major Economic Indicators

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The 3rd phase of the promotion of strategic industries

Core Strategic Industries

  • Marine Industry
  • Parts and Materials Industry
  • Tourism and Convention Industry
  • Multi-media and IT Industry

Future Strategic Industries

Financial Industry

  • Aging friendly Industry
  • Medical Industry
  • Textile and Fashion Industry
  • Design Industry
  • Green Energy Industry