During the “Busan Metropolitan University and Regional Talent Development Support Council” meeting held on March 16 at Busan City Hall, representatives from the Education Office, local universities, the business community, and innovation organizations attended as Busan Metropolitan City shared its intention to participate in the Regional Innovation System & Education (RISE) program, a higher education innovation strategy initiated by the South Korean government.
During the meeting, participants aimed to discuss how to respond to the government’s announcement of a higher education innovation strategy in 2023. The government launched this initiative in response to concerns about the decreasing number of school-age children. One of the main components of this strategy is the RISE program, which devolves administrative and financial authority for university support to localities, empowering them with more autonomy and responsibility. Attendees discussed potential solutions and future steps to address these challenges.
The RISE program represents a shift toward locally-driven support for universities, including increasing financial aid for local schools, modernizing higher education regulations, and empowering local governments. The government plans to select and test pilot regions for two years starting this year to establish a working model that can be implemented nationwide by 2025.
Busan City plans to take part in the RISE pilot region and collaborate with the Ministry of Education to develop a detailed business model. They aim to sign an agreement with the Ministry of Education in July of this year and announce a mid-to-long-term plan. During the pilot period, the government will share expertise, like planning and evaluating university financial support projects. Busan will use its specialized knowledge to be designated as a region specialized in higher education regulation.
If Busan City is chosen as a RISE pilot region, it will have an advantage in securing project funding, including extra points for attracting major government financial support. Busan City intends to respond jointly with local universities to various government competitions, including the Regional Innovation Project (RIS) and the Local Government-led Cooperation System Revitalization Project, as well as the Fostering and Supporting Global Universities program, which will be open for applications this year.
Mayor Park Hyung-joon announced that Busan has already established a successful model for regional development through Industry-Academia-Government (IAG) Collaboration, by setting up the country’s first IAG Collaboration Center and creating 52 branches. The mayor added that Busan will lead the way in creating an innovation model that can compete with capital areas by integrating the capabilities and infrastructure of local universities and businesses.
