Economy
Busan is the fifth busiest seaport in the world, with transportation and shipping among the most high profile aspects of the local economy. Since 1978, Busan has opened three container ports including Jaseungdae, Shinsundae, and Gamman. Busan has one of the world's largest ports and can handle up to 13.2 million TEU shipping containers per year.
The Busan-Jinhae Free Economic Zone Authority, one of two such administrations (the other in the harbor of Incheon), was created to reassert Busan's status as a traditional international trading centre. The port attracts ships from all over the globe and the surrounding area aspires to become a regional financial centre.
Korea Exchange (KRX), Korea's sole securities exchange operator, is headquartered in Busan.
Busan is the home of the headquarters of Renault-Samsung Motor, Hanjin Heavy Industries, Busan Bank, Air Busan, Hi Investment & Securities, Woori Aviva Life Insurance, Korea Technology Finance Corporation, Korea Asset Management Corporation.
Jagalchi Fish Market is the largest fish market in Korea.
Busan is ranked the fourth best city after Singapore, Seoul and Tokyo among Asia's top convention cities in a 2011 global ranking by the International Congress and Convention Association (ICCA).
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Famous quotes containing the word economy:
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)