Busan City Opens Youth Startup Hub ‘ICT NewWorkSpace’ … Fostering Information and Communication Technology (ICT) Industry

Busan Youth Startup Hub ‘ICT NewWorkSpace’.

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] The Busan Youth Startup Hub ‘ICT NewWorkSpace’ for fostering the information and communication technology industry will open on the 6th.

Busan City will hold the opening ceremony of the Busan Youth Startup Hub ‘ICT NewWorkSpace’ at 2 p.m. on July 6th at the former Dongnam Regional Statistics Office in Yeonje-gu.

The Busan Youth Startup Hub ‘ICT NewWorkSpace’ was selected in 2020 as one of the ‘Top 10 Collaborative Projects Linked to Public Institutions Relocated by Innovation City’ by the Ministry of Economy and Finance, and its construction was promoted.

With a total project cost of 4.2 billion KRW (fully funded by the national government), the former Dongnam Regional Statistics Office was remodeled into a building with one basement floor and four above-ground floors (total floor area 2050.18㎡). Construction was completed in April this year, and tenant companies were selected last month.

From the basement floor to the first floor, there is a collaboration space of the ‘ICT Innovation Square Center’ including ▲training rooms ▲book caf? ▲meeting rooms ▲testbed rooms ▲exhibition space ▲development rooms, and from the second floor upwards, information and communication technology companies are housed.

Busan Youth Startup Hub 1st Floor.

Going forward, the city plans to promote the ‘ICT Innovation Square Expansion Project’ (total project cost 13 billion KRW) in the collaboration space. The ‘ICT Innovation Square Expansion Project’ aims to nurture more than 1,000 digital innovation talents annually in the Busan, Ulsan, and Gyeongnam regions from 2020 to 2023 by supporting practical professional talent training, seminars, mentoring, and commercialization.

Up to last year, a total of 2,129 people, including 722 in Busan, have been trained. With the establishment of the Busan Youth Startup Hub, education and development support, which had been conducted only at Centum Venture Town, can now be carried out simultaneously.

Currently, nine companies are tenants in the ‘ICT NewWorkSpace,’ including Has, Nomad Lab, and Bespin Global Tech Center. In particular, the ‘Bespin Global Tech Center,’ which occupies both the third and fourth floors, is the Busan branch of Bespin Global, a global cloud company that provides professional instructors, program support, and recruitment linkage services to nurture local IT talent.

Thus, ‘ICT NewWorkSpace’ serves as a place to cultivate professionals, where youth gather and exchange creative ideas and information, functioning as a collaborative space supporting not only employment but also startups, providing excellent infrastructure for young people to work.

The opening ceremony at 2 p.m. today will be attended by about 100 people, including Busan Mayor Park Hyung-joon, Assemblyman Lee Joo-hwan, Yeonje-gu District Chief Joo Seok-su, Ministry of Economy and Finance National Property Review Officer Lee Seung-won, Ministry of Land, Infrastructure and Transport Innovation City Support Policy Director Choi Byung-geun, Korea Asset Management Corporation President Kwon Nam-joo, Busan Information Industry Promotion Agency Director Jung Moon-seop, and representatives of tenant companies.

Mayor Park Hyung-joon said, “The Busan Youth Startup Hub ‘ICT NewWorkSpace’ will serve as an advanced base for fostering the ICT industry, enabling education, startup, and scale-up all in one building, and with the nearby Youth Happiness Housing, it will be a good model within a 15-minute living zone.” He added, “To make Busan a city where young people want to stay, we will continuously create startup spaces not only through collaboration with public institutions but also with private, public, and expert groups, making it a global startup hub city.”

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