BNK Busan Bank donates W200m to support local festivals

BNK Busan Bank will donate 200 million won ($150,000) to the city of Busan to support the development of local festivals.

The city of Busan, BNK Busan Bank and the Busan Festival Organizing Committee will hold a sponsorship presentation ceremony Tuesday at 5 p.m. at City Hall. Busan Mayor Jeon Jae-soo, BNK Busan Bank President Kim Sung-ju and the organizing committee's executive chairman are expected to attend and reaffirm their commitment to mutual cooperation for the growth of local festivals.

The 200 million won will go toward the successful staging and enhanced competitiveness of Busan's flagship events, including the Busan Fireworks Festival. The city said it expects the funds to help raise the quality of festival programming and boost satisfaction among residents and tourists alike.

BNK Busan Bank, the region's leading community financial institution, has long pursued shared growth with the local community across areas including support for vulnerable groups, scholarships, financial education, and cultural, arts and sports initiatives. The bank has sponsored local festivals without interruption since 2006; through last year, its combined annual and individual contributions totaled 6.065 billion won. This year, it continues that support as an annual sponsor of the Busan Fireworks Festival, backing the growth of the city's signature events and the broader vitalization of local culture and tourism.

The major festivals organized by the Busan Festival Organizing Committee — the Busan Mil Festival, Busan Sea Festival, Busan International Rock Festival and Busan Fireworks Festival — draw large numbers of tourists and contribute to the vitalization of Busan's culture, tourism and local economy.

"I am grateful to BNK Busan Bank for consistently supporting the development of Busan's festivals and culture as the region's representative financial institution," Mayor Jeon said. "We will work closely with the local community to help Busan's festivals grow into flagship tourism content that brings vitality to the region."