Busan City Accelerates Discovery of New Projects for Designation as 'Regulatory Free Zone'

Blockchain, Marine Mobility, and Eco-friendly Energy Initiatives Underway

New Recruitment, Project Applications Open for Local Industry-Academia-Research Institutions

Busan City is conducting a demand survey to discover new projects in response to the Ministry of SMEs and Startups' (hereinafter referred to as the Ministry) promotion of the 9th Regulatory Free Zone designation.

Since 2019, the city has been designated with a total of three new Regulatory Free Zones to promote innovative growth in new industries, working together with local companies, institutions, and universities to carry out demonstration exemption projects based on new technologies.

The three Regulatory Free Zones are the 1st Blockchain (July 2019), the 3rd Marine Mobility (July 2020), and the 6th Ammonia Eco-friendly Energy (November 2021).

To newly attract the Ministry's 9th Regulatory Free Zone, Busan City and Busan Technopark are discovering demonstration exemption projects in new technology and new industry fields that respond to major government policies, regulatory relief, and reflect local demand, which can be linked with the Free Zone system.

For this purpose, a demand survey for new project discovery is being conducted until March 22, and demand proposals are being accepted. On March 15, a Free Zone project briefing session will also be held for companies.

The discovery fields cover all technology areas related to new industries and new technologies. Proposed projects will be reviewed and submitted to the Ministry, and if selected, will go through the Free Zone designation process and be finalized around March next year.

For more details, please refer to the websites of Busan City and Busan Technopark. Demand survey forms can be submitted to the city's Future Technology Innovation Division or Busan Technopark's Policy Planning Team.

Officials from Busan City and Busan Technopark stated, "We hope for active participation from companies and institutions interested in discovering new projects for the Regulatory Free Zone, and we will do our best to proactively attract new businesses and establish testbeds for new technology demonstrations."

Status of National Regulatory Free Zones Designation (Rounds 1 to 7, 32 Zones).

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