Busan City Launches Blockchain Specialized Cluster... 24 Companies Participating This Year

Kickoff Briefing for the Second Year of the Specialized Cluster Development Project
20 Billion Won Invested Over Three Years to Support Commercialization and Global Expansion

Busan City is set to accelerate its 'Blockchain Specialized Cluster Development' project.

On June 17, the city will hold a kickoff briefing session at the Technology Innovation Support Center on the 8th floor of the Busan International Finance Center (BIFC) to share this year's project implementation plans.

The briefing was attended by representatives from the Korea Internet & Security Agency, Busan Technopark, and 24 participating companies. This year, the project will be carried out across three main areas: regional convergence joint projects, business commercialization support for companies, and support for global expansion.

This large-scale project will invest a total of 20 billion won over three years, including both national and municipal funds. In its first year last year, the project achieved 15 billion won in attracted investment and created 93 new jobs. This year, support for overseas expansion has been newly established, and the selection of participating companies for each area has been completed.

For the designated joint project, Busan Port Authority's 'Advanced Real-Time Information Sharing Platform for Shipping and Port Logistics' was selected. For the open competition projects, a 'Waste Plastic Resource Circulation Platform' and a 'Blockchain-Based AI Pharmaceutical Smart Order Service' were included.

In the business commercialization support area, 14 companies were selected, and in the global expansion area, 7 companies were chosen. These companies will participate in the GITEX technology exhibition in Dubai this October, where they will conduct promotional and investment briefing sessions.

Busan City plans to strengthen the foundation of the blockchain industry by establishing a support system that encompasses technology development, commercialization, and overseas expansion.

Nam Dongwoo, the city's Financial Startup Policy Officer, stated, "Digital new industries such as blockchain are at a critical turning point," and added, "We will foster the growth potential of local companies and enhance their capabilities for global expansion."

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