CNA Insider on Youtube has the story.
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Busan is South Korea’s second biggest city, with more than 3 million inhabitants. Rising to prominence as an industrial powerhouse, it is now a popular tourist destination. But there are signs the port city could cease to exist, with South Korea’s economy largely centred around the capital Seoul.
Busan has lost about 600,000 people over the past three decades. Its youth are leaving for Seoul, as traditional sectors such as shipbuilding decline. The rise of Incheon in the Seoul Metropolitan Area is further intensifying Busan’s challenge to attract young workers.
As Busan falters, some Koreans are taking it upon themselves to revitalise their hometown. Authorities are pumping in funds - trying to create jobs, support startups and attract businesses.
The worsening economic climate is also prompting a slow reversal, with some Busan natives moving back from Seoul, citing lower costs and a better quality of life.
Is there a chance for Busan to turn the tide, or will its lights go out for good?
00:00 South Korea’s coastal city of Busan
02:24 Busan’s deserted homes
03:39 Busan’s youth: Their hopes, dreams and pressures
05:28 The search for jobs – outside Busan
08:44 The allure of Seoul for young Koreans
12:47 Incheon: South Korea’s rising star
16:11 The return of Busan’s youth?
18:29 Decline and revival of Yeongdo-gu
21:02 Job creation, business incentives to stem the exodus
