Recruitment of Participating Companies for the '2020 Busan Brand Shoe Development Project'

Reception for Visits to Busan Economic Promotion Agency Footwear Industry Promotion Center Until the 21st

Busan City Hall Exterior View

[Asia Economy Yeongnam Reporting Headquarters Reporter Yoon Yoseop] The city of Busan is recruiting companies to participate in the ‘2020 Busan Brand Shoe Development Project.’

Busan is aiming to shift its shoe industry from the existing global Original Equipment Manufacturer (OEM) structure to a focus on nurturing its own brands. The application period is until the 21st, and the recruitment fields include startup or small-scale enterprises in the startup category, growth category with sales under 5 billion KRW, and mature category with sales over 5 billion KRW. A total of 9 companies will be selected: 4 in the startup category, 4 in the growth category, and 1 in the mature category.

Selected companies will receive support for product development, design, marketing capability enhancement, and environment establishment, with a total project budget of 370 million KRW.

This year, to enhance the fairness of the selection evaluation committee, judges will be publicly recruited. Support fields will be subdivided according to the growth ladder based on company size, and a total volume system will be introduced to prevent benefits to specific companies by restricting applications from companies with cumulative support funds exceeding 500 million KRW. Participation in the Busan International Shoe Exhibition will also be strengthened for products developed in the future.

Companies wishing to participate in the project must submit their applications in person to the Shoe Industry Promotion Center of the Busan Economic Promotion Agency, and detailed inquiries can be made by phone.

A Busan city official stated, “In response to the recent boom in fashion shoe startups and demand for high-performance shoes, we will actively develop Busan’s own brand shoes together with local companies,” adding, “We will do our best to shift the core of Busan’s shoe industry not only to global OEM but also to Busan’s own brand-centered development.”

This content was produced with the assistance of AI translation services.