Is South Korea's Second-Largest City Facing Extinction? | CNA Correspondent | Busan

Video Description

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 ================= About CNA Correspondent: They're your eyes and ears around the globe. CNA's network of correspondents shines a light on stories from their corners of the world, from groundbreaking events to up-and-coming trends. ================= #CNAInsider #CNACorrespondent #SouthKorea #Busan #Seoul #Economy For more, SUBSCRIBE to CNA INSIDER https://cna.asia/insideryoutubesub Follow CNA INSIDER on: Telegram: https://t.me/CNAInsiderSG Instagram: https://www.instagram.com/cnainsider/ Facebook: https://www.facebook.com/cnainsider/ Website: https://cna.asia/cnainsider