BISTEP Achieves Highest Ever National R&D Project Selection Rate... Regional Customized Feasibility Study Success, Not Blind R&D

Feasibility Study System for City-Funded R&D Projects in Busan Enhances Policy Effectiveness and Efficiency
Proactive Reviews Boost Budget Efficiency... Achieves 71.9% Selection Rate in National R&D Project Competitions

The Busan Institute for Science and Technology Promotion (BISTEP, Director Kim Young-bu) achieved a record-high national research and development project selection rate of 71.9% last year through the "Feasibility Study System for City-funded Support of R&D Projects," implemented in collaboration with Busan City.

Since its inception in 2015, this system reviews and provides recommendations in advance on △policy feasibility △project plan feasibility △expected effects for R&D projects that Busan City considers for financial support, aligned with Busan's R&D policy direction for securing national funding. This contributes not only to the efficient execution of R&D budgets but also to the selection of competitive research projects in government R&D programs.

In particular, as a result of strengthening strategic policy recommendations during the recent feasibility study process, last year's national R&D project selection rate reached an all-time high.

Additionally, over the past three years, the feasibility study system for city-funded support has achieved a budget reduction effect of 25.9% on average compared to the requested city funding per project, significantly enhancing budget management efficiency. This outcome stems from a virtuous cycle structure where projects with competitiveness succeed in central government competitions by thoroughly reviewing project feasibility and discovering excellent tasks.

This achievement is regarded as a representative example demonstrating that Busan City's R&D policies are yielding tangible results. BISTEP plans to continue its efforts to help Busan leap forward as a global R&D hub city through R&D support reflecting regional characteristics.

Kim Young-bu, Director of BISTEP, stated, "The feasibility study system for city-funded support is enhancing the effectiveness of Busan City's R&D projects, and based on this, we are achieving concrete results in securing central government R&D budgets. We will continue to strengthen Busan's R&D capabilities through ongoing system improvements and policy support."

Busan City New Research and Development Project Municipal Funding Feasibility Investigation Procedure.

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