Public opinion is growing in Busan that a piecemeal investment over-the-counter (OTC) exchange (distribution platform), which is awaiting preliminary approval, must be established in Busan to achieve balanced regional development.
The Busan Economic Revival Citizens' Coalition (hereafter, BEC) issued an urgent statement on the 31st titled, "Busan, the Financial Hub! We Strongly Urge the Establishment of an Over-the-Counter (OTC) Exchange in Busan for Piece-Shared Investments." BEC stated, "Piece-shared investments are an innovative financial product that allows small investments in various real assets, such as art and real estate. The market is expected to grow to a whopping 367 trillion won by 2030. The OTC exchange that distributes these assets is truly a core infrastructure that will drive next-generation financial innovation."
The Busan Economic Daily continued, “Among the companies considered for establishment, the KDX consortium includes local companies headquartered in Busan, including the Korea Exchange,” and emphasized, “As Busan is striving to revitalize the local economy through financial innovation as a blockchain special zone, it is the optimal city for an over-the-counter exchange for fragmented investment.”
In its statement, the Busan Economic Research Institute (BRI) cited the principle of balanced regional development as a strong justification for establishing an over-the-counter (OTC) exchange for piecemeal investment in Busan. While public financial institutions have relocated to Busan, they argued that Busan cannot develop into a financial hub solely through these institutions. Furthermore, they emphasized that to overcome the dominance of the Seoul metropolitan area and for Busan to emerge as a true financial hub, a self-sufficient financial industry ecosystem must be established within Busan.
The Busan Economic Research Institute (BRI) raised its voice, saying, "If Seoul monopolizes even new infrastructure, Busan's future as a financial hub is bleak." They added, "President Lee Jae-myung, while presiding over a cabinet meeting in Busan on the 23rd, pledged to make an all-out effort across the government to help Busan emerge as an economic hub. Therefore, we strongly urge the government to establish innovative financial infrastructure and an over-the-counter exchange for fragmented investment in Busan."
Meanwhile, the Financial Services Commission (FSC) received applications for preliminary approval for an over-the-counter (OTC) exchange for fragmented investment in September and October, receiving three consortiums. It plans to select up to two of these. The announcement was originally scheduled for late 2025, but the delay in legislating token securities in the National Assembly pushed it back to next year. This preliminary approval battle has narrowed down to a three-way battle: the KDX consortium, which includes Busan financial institutions; the proprietary consortium led by startup Lucent Block; and the alternative exchange Nextrade (NXT) consortium.
