President Yoon Suk Yeol has vowed to pursue the enactment of a special law on making Busan a global hub city as part of efforts to foster the port city into the nation’s number two city and the central axis of the nation’s southern region. 

Yoon made the pledge on Tuesday during a forum on people’s livelihoods held at the Busan Metropolitan City Hall. 

The president said recovering the total fertility rate to one by ushering in an era of balanced regional development is a key policy that has become more urgent than ever.  

He then stressed that the most important axis to achieving that goal is none other than Busan. 

The president said the government will designate special financial and logistics zones as well as investment promotional zones in Busan and provide financial support as well as tax breaks to companies that operate there while drawing in talents by creating a self-regulating learning environment. 

Through such efforts, Yoon said he will help foster Busan into a hub city of global, high-tech logistics and financial industries.