Busan s financial hub vision faces triple whammy
Posted : 2021-07-21 08:18
ATS, Yozma, Jeonju seen as obstacles to city s ambitious plan
By Park Jae-hyuk
Busan s ambitious plan to become one of Asia s financial centers has been facing multiple unfavorable factors lately, despite its declaration last year that it would try to replace Hong Kong by attracting multinational financial firms leaving Asia s premiere financial hub due to turmoil following the mainland Chinese government s implementation of a national security law there.
Korea s second-largest city has been more aggressive than Seoul in terms of attempts to take advantage of the political turmoil in Hong Kong, as it has being using online investor roadshows, web conferences and ads in foreign business news outlets, such as the Economist and Bloomberg, to raise global financial companies awareness of Busan.
Israeli venture capital firm Yozma to sue JTBC
Posted : 2021-07-15 14:28
Updated : 2021-07-15 14:32
Busan Mayor Park Heong-joon, left, and Yozma Group Chairman Yigal Erlich pose after signing a memorandum of understanding at Busan City Hall in this April 13 file photo. Courtesy of Busan Metropolitan Government
By Park Jae-hyuk
Israeli venture capital firm Yozma Group s Korean subsidiary said Thursday it decided to file a 10 billion won ($8.7 million) damage claim against JTBC and its producers, as well as a separate criminal suit against its chief news producer, over the cable channel s news report on July 6 that questioned the credibility of the company s businesses.
Residents of working class city say riots tapped into tensions with Garin Torani, a group of national-religious newcomers that reject being anti-Arab and say they are there to stay
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