Busan to Invest KRW 214.5 Billion to Foster Local Talent and Key Industries

Busan Metropolitan City has announced that it has been selected for the "Local Innovation Project Based on Local Government-University Cooperation," a public offering project by the Ministry of Education. The project aims to help local universities and promote innovation in the region.

The "Busan Regional Innovation Platform Project" is a collaborative initiative comprising 81 local innovation institutions, including Busan City, 21 local universities, education offices, companies, and public institutions. The project aims to stimulate job creation and economic growth in Busan by fostering local talent and addressing local challenges. The participants collaborate to promote innovation, address regional issues, and create a brighter future for Busan and its residents.

Busan plans to invest KRW 214.5 billion over the next five years to promote innovation and foster local talent and industries. This investment includes KRW 150 billion in national expenses to train over 1,000 people in three core areas: smart port logistics, eco-friendly smart ships, and clean energy convergence. In addition, the city aims to support the growth of key industries such as finance, bio and healthcare, and film and video content by working closely with Busan's universities. The ultimate goal is to address the region's needs and create new opportunities for Busan's residents.

The Busan Techno Park, which is run by the city of Busan, will serve as the center for the project. The city is fully committed to supporting local talent and funding the project. Furthermore, the city has applied for the "Regional Innovation System & Education (RISE) Pilot Area" to provide additional support to local universities. If chosen as a RISE pilot region, it could grant more autonomy to the city and facilitate the smooth running of the project.

Mayor Park Hyung-jun has announced that the project will create new opportunities for local people and help local universities. The final results of the project will be announced in early March. The RISE pilot program could enable the city to plan and evaluate projects needed in the region, bringing further benefits. The project is expected to create jobs and help boost the local economy. The city's focus on training local talent and promoting innovation is expected to have a positive impact on the region's future.

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