Gibo, Busan 'Public-Private Joint Coworking Space' Opens

Contributing to the Creation of an Innovative Startup Ecosystem in Busan through Technology Finance Support

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Kim Jong-ho, hereinafter referred to as Kibo) announced on the 28th that it held an opening ceremony for the public-private joint co-working space (BIGS) at Pathfinder located in Busan Metropolitan City, together with Busan City and Busan startup fund operating institutions.

Busan Metropolitan City and eight public institutions located in the Busan area jointly established a nurturing fund to create an innovative startup ecosystem in the Busan region, and each institution combined space, networks, and investments to launch BIGS as a public-private joint initiative.

Accordingly, Busan Port Authority, Korea Housing & Urban Guarantee Corporation, Korea Southern Power, Korea Securities Depository, and Korea Housing Finance Corporation will be responsible for startup support operating expenses and project costs, while BNK Financial Group will handle fund investments and loans.

Kibo plans to support investment and technology guarantees for promising innovative startups leading the 4th Industrial Revolution based on its technology finance and technology evaluation infrastructure, helping Busan-area startups grow into unicorn companies.

Director Kim Young-gap of Kibo said, "It is significant that Busan Metropolitan City and public institutions created a field-centered complex support model to spread the venture startup boom in the Busan area," adding, "Kibo will continue to do its best to nurture innovative startups through continuous and systematic support as a comprehensive innovation growth support institution."

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