During the 1990's, Busan's economy had experienced a downturn, following slumps in the exporting of manufactured products such as shoes and textiles. However, since 1999, Busan has targeted ten strategic industries with great potential for growth that have led an economic turnaround. The City has also made continuous efforts to expand pre-existing industrial facilities to keep companies in Busan. Focusing on changes in technology and the business environment worldwide, Busan's strategic focus on its core growth industries has been reorganized twice in 2004 and 2009, with the fourth reorganization to be finalized in 2014 when the City plans to narrow its focus to concentrate on five key industries. This is part of a broader vision of the port city, which is to develop itself into a center for global exchanges serving as a major hub for logistics, information, finance and tourism in the Pacific Rim. As a result of these enormous efforts, the city has become one of the world's "Super Ports" and is becoming a marine capital in the Northeast Asia era.

Busan's New Five Strategic Industries (January 1, 2014 - )

Major Economic Indicators