Busan is accelerating its leap toward becoming a digital finance hub, hosting a series of key international conferences that discuss the future of Asia's bond markets. Following the World Alliance of International Financial Centers (WAIFC) annual general meeting in September, the city will hold three major ASEAN+3 bond market forums at once in November, raising its presence as an international finance hub.
The Busan Metropolitan Government announced Monday that it will host the "Three Major ASEAN+3 Bond Market Forums" together across the Busan International Finance Center (BIFC) from November 2 to 6.
The city will hold, for the first time in one place, the regular meetings of the Digital Bond Market Forum (DBMF), the ASEAN+3 Bond Market Forum (ABMF), and the Cross-border Settlement Infrastructure Forum (CSIF), the core working bodies of the Asian Bond Markets Initiative (ABMI). The results of the meetings will be officially reported to the ASEAN+3 Finance Ministers' Meeting and used as foundational data for future regional financial policymaking.
Drawing particular attention is the Digital Bond Market Forum (DBMF). Launched last year under Korea's leadership, this forum is an international consultative body that discusses ways to apply distributed ledger technology (DLT) and tokenization to bond markets. The Busan meeting is expected to further concretize digital bond standards and cross-border cooperation measures.
The event will be attended by about 150 officials, including fiscal authorities, central banks, financial supervisory agencies, and international finance representatives from ASEAN+3 member countries. It is hosted by the Asian Development Bank (ADB), co-organized by the Busan International Financial Promotion Agency and BNK Financial Group, and sponsored by the Busan Metropolitan Government and the Ministry of Economy and Finance (MOEF).
The meetings will feature policy sessions and expert discussions on digital bonds, cross-border settlement infrastructure, and sustainable finance. Development strategies for Asia's bond markets, such as invigorating green bonds and blue bonds—investment bonds in the eco-friendly and marine sectors—and linking DLT-based digital assets, will also be addressed as major agenda items.
The Busan Metropolitan Government considers this hosting an outcome of the international recognition of the region's financial industry competitiveness. Busan is Korea's only blockchain regulatory free zone, equipped with a base for digital finance demonstration, and has also secured competitiveness in marine finance and sustainable finance based on its world-class ports and shipbuilding industry.
The meeting carries particular significance in that it is the last regular meeting held before Korea takes on the ASEAN+3 chairmanship next year. This is because the agenda discussed in Busan is highly likely to be reflected in next year's ASEAN+3 financial policies and the future development direction of bond markets.
The Busan Metropolitan Government plans to use the international conference as an opportunity to expand an international financial ecosystem linking digital finance, ESG finance, and the marine industry, and to actively attract foreign financial institutions and international organizations. It expects that international cooperation projects and investment attraction will increase as global financial experts directly experience Busan's financial and marine infrastructure and digital finance environment.
"This forum will serve as an opportunity for Korea to lead the digital transformation of Asia's bond market and to promote Busan's marine and digital finance competitiveness to the world," Busan Mayor Jeon Jae-soo said. "We will nurture Busan into a leading marine finance city in Northeast Asia that spearheads digital finance and sustainable finance."
