The economy of Busan
Busan's economy highly depends on its port sector, the Busan-Jinhae Free Economic Zone Authority and shipping, import and export greatly contribute to the national Gross Domestic Product (GDP). Information and communication technology is also an important sector, as well as industry, finance, trade and the educational field.
Moreover, many international and multinational companies are settled in Busan which also boosts the economy. These companies include Renault, Samsung, Hanjin Heavy Industries, Air Busan, Korea Technology Finance Corporation, and many more. Banking and financial institutions such as the Busan Bank, Woori Aviva Life Insurance, Korea Asset Management Corporation also have headquarters in the region.
Busan is famous for its seafood and has the largest fish market in South Korea. On top of that, the city is divided into four main business areas with shopping centres, department stores, as well as urban facilities such as subway stations, a ferry terminal, restaurants and office buildings. This is also where Centum City is located, one of the largest industrial complexes in the country. The extensive subway network makes it easy to get from one part of the city to another.
Good to know:
The most important businesses in Busan are the Lotte Department Store, the Shinsegae Department Store, the Hyundai Department Store and large discount stores such as Home Plus, E-Mart, Lotte Mart, and Mega Mart.





