Busan City Breaks Ground on Elastomer Materials Research Institute in Nation's First Industrial Innovation Zone... "Advanced New Materials Hub"

Busan City has become the first local government in the country to designate an Industrial Innovation Zone and has begun construction of the "Elastomer Materials Research Institute," which will serve as a hub for advanced new materials research and development. The site is located on the grounds of the former Samrak Middle School in Samrak-dong, Sasang-gu.

The Elastomer Materials Research Institute will have a total floor area of 3,745.71 square meters and will consist of a research building and an equipment building, both with one basement level and five above-ground floors. Inside, there will be laboratories, conference rooms, classrooms, equipment analysis rooms, and spaces for companies to move in. The elastomer materials handled at the institute are core component materials that reduce vibration and noise across all industries, including mobility and electronics, and represent a highly technology-intensive field.

Since being selected as the project site through a Ministry of Land, Infrastructure and Transport public contest in 2019, Busan City has held long-term consultations with the Office of Education, the Ministry of Land, LH, and Sasang-gu, in connection with the Sasang Industrial Area Revitalization Pilot Project. In January 2024, the city designated 2,817 square meters of land for the Elastomer Materials Research Institute as an Industrial Innovation Zone, and by December of the same year, completed the parcel division and land contract.

The Industrial Innovation Zone is a system that fosters innovation hubs by easing regulations within industrial areas, offering benefits such as special exemptions from building regulations and reductions in development charges. At the end of May, the city began construction project management services, and on the 9th, full-scale construction will commence, with completion targeted for the end of 2026.

Park Hyungjoon, Mayor of Busan, stated, "We will develop the Elastomer Materials Research Institute into the only specialized institution in the country capable of advanced new materials research and development," and added, "We will devote our efforts to making this a foundation where young talent can pursue their dreams and to making Busan a city where people want to stay."

Busan City Hall.

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