Busan International Finance Center (BIFC)

Busan International Finance Center, or BIFC, is a 63-floor skyscraper in Busan, South Korea. It is 289 metres tall and stands in the Munhyeon financial district in the Nam District. It was completed in 2014 and was designed by the architecture firm HAUD.

When it finished, BIFC was the third tallest building in Busan and the fourth tallest in South Korea. The glass-and-metal tower steps inward as it rises and ends in a sloping crown with an antenna. An observatory on the 63rd floor opened to the public in April 2015. It was built to withstand a magnitude 7.0 earthquake, and it was meant to start a wave of new business in the city. A shopping mall called BIFC Mall is attached.

Building a finance district

Busan is South Korea's second-largest city and a major port. The city wanted Munhyeon to become a hub for banks and money businesses, and BIFC was meant to be its centre piece. Hyundai Engineering & Construction built the tower, and the Busan Metropolitan City Corporation developed it. English-language sources date construction to 2011 to 2014, while Korean sources say work began in 2008, and the first phase of the project opened in 2014.

Later phases

BIFC is a multi-phase project. The first phase, with the 63-storey tower, was completed in 2013 to 2014. The second phase, with towers of 36 and 49 floors, was completed in 2018, and a third phase was planned for later. The tower has been used in emergencies: after the 2016 Gyeongju earthquake, everyone in the building was told to evacuate.

On the globe

The model shows a glass-and-metal tower that steps inward to a sloping crown with an antenna.