Busan is cementing its status as an international maritime powerhouse. According to the Leading Maritime Cities of the World 2026 report—unveiled on November 12 by Norwegian analytics firm Menon Economics and DNV—Busan has secured the 7th position globally, marking a notable three-place improvement from its 10th-place ranking in 2024.

The biennial assessment evaluates 50 prominent maritime hubs across 48 indicators categorized into five core domains: shipping, maritime finance and law, maritime technology, ports and logistics, and overall attractiveness. Singapore claimed the top spot, followed by Shanghai, London, Rotterdam, Tokyo, and Oslo, with Busan breaking prominently into the top tier at number seven.

Busan's standout achievement lies in the maritime technology sector, where it grabbed 2nd place globally, highlighting its enduring leadership in shipbuilding and marine engineering. The city also experienced a major leap in ports and logistics, climbing from 17th to 9th place.

Local authorities view this milestone as validation of Busan’s growth potential. As the world’s second-largest transshipment hub, the city is actively strengthening its infrastructure across research, finance, and logistics. Backed by strategic shifts—including policy support from the Ministry of Oceans and Fisheries and the relocation of key maritime firms like HMM—Busan is laying the groundwork for a global business ecosystem.

Looking ahead, the city is setting its sights even higher. Busan aims to break into the global top 5 maritime cities by 2030 by expanding high-value-added services such as specialized maritime legal frameworks, financial clustering, and the commercialization of emerging Arctic shipping routes.

Mayor Jeon Jae-soo emphasized that this global recognition reflects the city's world-class port capabilities. By converging shipping, finance, law, and advanced technology, Busan is ready to accelerate its transformation into a premier international maritime nexus.

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