Seo-gu in Busan to Host 'Medical and Healthcare Startup Incubator' after Selection for Ministry Competition
With Busan City being selected for the Ministry of Land, Infrastructure and Transport's 2025 'Public-Private Win-Win Investment Agreement' competition, a 'medical and healthcare startup incubator' will be established in Seo-gu.
This initiative is expected to foster startups, create jobs, and lay the foundation for population inflow as a regional economic model that embodies the city's ongoing '5-Minute City' project.
This project is a public-private partnership involving the Pusan National University Hospital Biomedical Research Institute, Pusan National University, and the Busan Center for Creative Economy and Innovation. It supports the establishment and growth of new companies in the medical and healthcare sectors. Through this, the city plans to build a local startup ecosystem and expand its industrial base in connection with the 'Global High Medi-Hub Special Zone.'
A total of 9.1 billion won (3.5 billion won from the national government, 1.4 billion won from the city, 2.1 billion won from the district, and 2.1 billion won from the private sector) will be invested over the next four years from this year to 2028. Fourteen detailed projects will be promoted, including the creation of the incubator space, operation of specialized programs, and full-cycle startup support. Outstanding startups will be given the opportunity to move into the Seo-gu Medical R&D Knowledge Industry Center, which is scheduled to open in 2028, to support their continued growth.
For this competition, 8 out of 85 basic local governments nationwide applied, and 5, including Seo-gu in Busan, were selected. Last year, Yeongdo-gu's 'Young Blue Valley' in Busan was also selected for this project.
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Busan Mayor Park Hyungjoon stated, "Being selected for the Ministry of Land competition for two consecutive years brings us one step closer to realizing the 15-Minute City," and emphasized, "We will discover region-specific content and create a city where people can start businesses and work close to home."
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