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.
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By Syndicated Content
Jul 19, 2021 | 5:56 PM
WASHINGTON (Reuters) â President Joe Biden will nominate former U.S. Senate Banking Committee lawyer Graham Steele as the U.S. Treasuryâs top bank regulatory official, along with nominees for senior posts at the Export-Import Bank and the U.S. Agency for International Development, the administration said on Monday.
The White House said Steele, who currently directs a Stanford Graduate School of Business research initiative to promote more accountable capitalism and governance, will be nominated to serve as the Treasuryâs assistant secretary for financial institutions.
Steele, who served on the Federal Reserve Bank of San Francisco staff before joining Stanford, has more than a decade of experience working in financial regulation law and policy and previously served as chief counsel and legislative assistant to Democratic Senator Sherrod Brown, who now chairs the Senate Banking Committee.