Busan City Accelerates the Creation of Specialized Urban Youth Entrepreneurial Hubs

Busan city has launched a new initiative to support a growing entrepreneurial ecosystem, focusing on creating urban centers for youth entrepreneurship and living. These centers are aimed at offering young entrepreneurs a conducive environment to develop their businesses and live, thereby positively impacting the local economy and community engagement.

The most recent addition to this initiative is the transformation of the former Sena Kindergarten in Bansong-dong, Haeundae-gu, into the fifth such entrepreneurial and living complex. This move follows the successful launch of similar facilities at Dongseo University in Sasang-gu and Busan Kyungsang College in Yeonje-gu last year, with ongoing projects at the Public Plan in Dong-gu and Dong-eui University in Busanjin-gu.

The Sena Kindergarten, authorized in 1996 and closed due to a decline in school-aged population, is set to be renovated by December, turning it into a dream space for young entrepreneurs. This 340 square meter facility, capable of hosting up to 40 individuals, represents a significant step forward in the city's commitment to nurturing a new generation of business leaders.

The concept behind these complexes is deeply intertwined with the idea of the 15-minute city, where essential services and amenities are within a 15-minute reach for residents, thereby creating a more sustainable and community-oriented urban environment. Each hub is tailored to the specific entrepreneurial strengths of its area, ranging from manufacturing and webtoon creation to culture and tourism, information technology, and artificial intelligence.

In addition to physical spaces for startups, these hubs offer a "Local Workcation" program, expanding the benefits of remote working from vacation locations to include local businesses, thus increasing the appeal to the city's residents. The initiative aims to revitalize underused urban spaces by drawing young people and increasing foot traffic, thereby contributing to the overall vibrancy of Busan's urban centers.

Mayor Park expressed his commitment to this initiative, recognizing the need for more entrepreneurial spaces in Busan compared to the Seoul Metropolitan Area. The city plans to continue its efforts in creating these complex spaces, aiming to attract more young entrepreneurs to Busan and ensuring their stable growth within the region.