Busan City Expands Support for ICT Convergence Sector to Overcome COVID-19

Applications open until July 31... Customized Commercialization Support in ICT Sector
Commercialization Support up to 50 Million KRW, Global Competitiveness Enhancement 33 Million KRW

Busan City will launch an additional support project for ICT companies located within a 10km radius of the National Innovation Convergence Complex (Munhyeon Innovation District).

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Additional support projects by Busan City for local companies in the information and communication technology (ICT) sector within the Busan National Innovation Convergence Complex will be implemented.

Busan City, Busan Technopark, and Busan Information Industry Promotion Agency announced on the 17th that they will additionally implement the ‘ICT Sector Enterprise Support Project’ to support local ICT companies in the Munhyeon Innovation District of Busan, which are experiencing management difficulties due to the novel coronavirus disease (COVID-19).

The support targets are small and medium-sized enterprises (SMEs) and mid-sized companies related to ICT that are located within the Busan National Innovation Convergence Complex or within a 10 km radius nearby, or those planning to relocate to or newly establish within the National Innovation Convergence Complex.

Following the selection and support of 17 companies in the first half of this year, plans include additional support for new global marketing and demand-tailored commercialization support.

This project is part of the Ministry of Trade, Industry and Energy’s ‘Regional Innovation Cluster Development Project,’ which connects existing innovation cities, industrial complexes, and other regional hubs to foster regional representative new industries (intelligent information services) and create an innovation ecosystem. Busan Technopark is the overall coordinator, with Busan Information Industry Promotion Agency and others participating as partners.

This project will be carried out through Busan Technopark’s ‘Demand-tailored Commercialization Support (2nd phase)’ and Busan Information Industry Promotion Agency’s ‘Global Competitiveness Enhancement Support (new)’ projects.

The 2nd phase commercialization support will be conducted in a demand-tailored manner for technologies and services that can be commercialized in a short period, including product performance and design (engineering) improvement, testing and certification, and patent support. The support scale is up to 50 million KRW per company.

The new global competitiveness enhancement support includes global marketing such as entry into global online platforms (product halls), content production support, and overseas logistics support. The support scale is 33 million KRW per company (20 million KRW for early export companies), and applications from interested companies will be accepted until July 31.

Detailed information can be found in the announcements on the websites of Busan City, Busan Technopark, and Busan Information Industry Promotion Agency, and inquiries can be made to the Policy Planning Team of Busan Technopark and the SW Convergence Business Department of Busan Information Industry Promotion Agency.

The business briefing session for companies will be conducted non-face-to-face using KakaoTalk open chat rooms due to COVID-19. By searching ‘Busan National Innovation Cluster Enterprise Support Non-face-to-face Briefing’ in the KakaoTalk open chat room, participants can receive guidance through real-time questions.

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