City eyes global network to become hub for maritime finance; BIFC Global Finance Symposium set for Nurimaru; field visits to Busan Port Authority and Hanwha Ocean's Geoje site also planned

A scene from the 2025 WAIFC Annual Assembly held in Frankfurt, Germany. [Provided by Busan city government]
A scene from the 2025 WAIFC Annual Assembly held in Frankfurt, Germany. [Provided by Busan city government]

The 2026 Annual Assembly of the World Alliance of International Financial Centers, hosted by WAIFC and organized by the Busan Finance Center, will be held Tuesday at the Busan International Finance Center complex. Busan city announced Monday that joint project meetings and a global finance symposium will also run over four days, from Monday through Thursday.

WAIFC is an international network established in 2018 to promote exchange and cooperation among financial centers. Busan was selected as this year's host city at the 2024 annual assembly held in Tokyo. The assembly program consists of a welcome reception, a Young Academic Award ceremony, the WAIFC annual assembly and joint project meetings, MOU signings between international financial centers, a dialogue with financial regulators, and the BIFC Global Finance Symposium.

On Monday, a welcome reception will be held at D-Space on the 63rd floor of the Busan International Finance Center. On Tuesday, the Young Academic Award ceremony will showcase outstanding research by young scholars in the finance field. The annual assembly will then take up WAIFC's key agenda items and future operational direction, while the joint project meeting will address areas of cooperation among member institutions.

On Wednesday, MOUs will be signed between international financial centers, and a dialogue session will bring together WAIFC delegates and South Korean financial regulators to exchange views on major financial policy and shifts in the global financial environment. A field visit to the Busan Port Authority on Tuesday will offer a look at port operations, followed by a visit to Hanwha Ocean's Geoje site on Thursday to explore potential links between the shipbuilding and maritime industries and finance.

A highlight of the program is the BIFC Global Finance Symposium at Nurimaru APEC House on Wednesday, which will examine Busan's financial competitiveness and explore ways to advance maritime finance. Under the theme "Busan's Strategic Opportunity: Maritime Finance and the Future of Busan as a Financial Hub," the symposium will feature a keynote address by Lim Ki-tack, former secretary-general of the International Maritime Organization, followed by a WAIFC roundtable, a Young Academic Award session and expert discussions including a special address.

Mayor Jeon Jae-soo said Busan can become a true global maritime capital "when shipping, ports, logistics and finance are connected as one ecosystem." He added that the city would use the assembly as an opportunity to showcase its financial and maritime capabilities to the world, expand its global finance network and establish itself as the world's leading city for maritime finance.


kaf2002@heraldcorp.com