Former) Busan Headquarters, Bank of Korea

Detailed introduction

The location of the former Busan headquarters of the Bank of Korea has now been named the “Busan branch of the Bank of Korea. The Busan branch of the Bank of Korea was established by the Bank of Korean Act of the Korean empire in July. 1909. It was the Chosun Bank Busan Branch of the Japanese colonial period and a government-run bank.

The Chosun Bank Busan branch building was designed and constructed by the Tatsunokashii design office in a renaissance style building in conjunction with the head office of Kyungsung (Seoul) during the Japanese colonial rule. In 1963, after the liberation, the old building was demolished and a modern building that still stands today was built and continues to be used.

The location of the former Busan headquarters of the Bank of Korea is located in the precinct of Choryang Waegwan, which was the Japanese official residence during the Chosun Dynasty. Various financial institutions entered into the area including the Busan branch of the Dongyang Colonization Company (currently the Busan Modern History Museum) during the Japanese colonial era. Other financial institutions that moved in included the Busan branch of Siksan bank, and Gyeongnam Mujin Corporation. Also, as the Bupyeongjeong Market (currently the Bupyeong Market), which was the first public market in Korea, entered in the area. It has a rich history located in Daecheong-ro, which is the central area of Busan.

During the Korean War, the Korean government carried out currency reforms, all of which were put in motion at the Busan branch of the Bank of Korea. The “Busan headquarters of the Bank of Korea” has great historical significance in both the Korean economy as well as the Bank of Korea.

The building of the the Busan branch of the Bank of Korea, built in 1963 where the Chosun Bank Busan branch was located, represented the financial industry in the port city of Busan and was designed by the first Korean architect Lee Chunseung.

Both the building of former Busan Headquarters of the Bank of Busan, built in 1963, and its site have high historical, regional, and economic historical value. It has been designated as an architectural asset of historical importance as a result of the advanced architectural techniques used in at the time of its architecture.

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