Seoul, Busan and the Busan International Finance Promotion Center spent a combined 2.0023 billion won on business linked to British consulting firm Z/Yen since 2018, with 1.98949 billion won paid directly to the firm. Z/Yen publishes the Global Financial Centres Index (GFCI), a twice-yearly benchmark that combines quantitative data with survey assessments from finance professionals. Busan ranked 22nd among 117 financial centers in the latest release on the 16th, its highest position, up from 51st in 2020, while Seoul ranked seventh. The spending has prompted concerns because the cities being assessed have paid the organization that compiles the index, and because survey participants can rate centers without separate employment verification. Busan received a professional-assessment score of 832, matching New York and exceeding London’s 811, but its final score was 737, below New York’s 761 and London’s 757. Z/Yen said the gap may reflect strong marketing. Critics and a World Alliance of International Financial Centers report have also raised concerns about regional bias and potential conflicts of interest. Rep. Kim Hyun-jung said rankings alone cannot measure whether Seoul and Busan are genuine financial centers and called for efforts to attract financial companies, specialist personnel and jobs.