Busan Port Authority Announces Call for Tenants for '1876 Busan'

Busan Port Authority (BPA) is accepting applications for resident companies at the startup support platform for the shipping, port, and logistics sectors, ‘1876 BUSAN,’ from the 9th to the 17th of this month.

‘1876 BUSAN’ is named after the year 1876, when Busan Port was opened. The platform is jointly operated by BPA, the Korea Ocean Business Corporation, and Busan City, providing comprehensive support to prospective entrepreneurs and startup companies in the shipping, port, and logistics fields.

Since its opening in February last year, eight companies have been residing in the platform, and through this recruitment, up to seven additional prospective entrepreneurs and startup companies will be selected.

The selection process involves a comprehensive evaluation of business plans, technological capabilities, and management skills. Companies admitted will receive various support programs including ▲office space provision ▲startup and research funding subsidies ▲testbed access ▲startup-related education and consulting.

1876 BUSAN.

BPA explained that due to the nature of the shipping, port, and logistics industries, which are difficult for startups to enter easily, resident companies will have increased opportunities to participate in R&D projects or support programs conducted by public institutions, greatly aiding the growth of companies in their early stages.

The platform’s residency and support targets include ▲prospective entrepreneurs and ▲small and medium enterprises established less than seven years ago in the shipping, port, and logistics sectors. After evaluation, residency contracts will be signed for up to two years. Detailed criteria, such as the startup base date, will follow the ‘Small and Medium Enterprise Startup Support Act.’

The application period is from the 9th to the 17th of this month. For more details, please refer to the announcement posted on the Busan Port Authority website.

Kang Jun-seok, President of BPA, said, “With technology trends changing day by day, we hope that 1876 BUSAN will contribute to the development of startup companies in Korea,” adding, “We will actively support discovering outstanding companies and ensure that Busan Port becomes a strong foundation for their leap forward.”

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