Busan SMEs Win 20 R&D Projects... Securing 12.6 Billion Won in National Funding, 18 Billion Won to Be Invested Over Two Years

Busan Focuses on Mobility, Materials & Components, and Energy Sectors

Twenty research and development (R&D) projects from small and medium-sized enterprises (SMEs) in Busan have been selected for a government support program. Technology development in future mobility and energy sectors, centered on shipbuilding and marine-based industries, is now in full swing.

Busan Metropolitan Government (Acting Mayor Kim Kyungdeok) announced that 20 local corporate projects have been finally selected in the Ministry of SMEs and Startups' “Regional Innovation Leading Enterprise Promotion (R&D)” program contest.

This program aims to secure growth engines by strengthening technological innovation among regional key industry SMEs and promoting collaboration between industry, academia, and research institutions. Through this selection, Busan has secured 12.6 billion won in national funding, and will add 5.4 billion won in city funding, providing a total of 18 billion won in R&D support over two years.

In Busan, a total of 43 projects were submitted, with 20 selected after evaluation. These consist of 10 projects for “key industry ecosystem development” to establish supply chains and industrial ecosystems for leading industries, and 10 projects for “regional enterprise capacity building” to enhance corporate technological capabilities.

By field, there are 6 projects in mobility (shipbuilding), 9 projects in materials and components, and 5 projects in energy and environment. This structure promotes technology development across all regional strategic industries.

Among these, the “Development of Titanium Additive-Carbon Fiber Reinforced Plastic (CFRP) Hybrid High-Pressure Storage Module” project was recognized as an outstanding case by the Ministry of SMEs and Startups, acknowledging its potential to secure core storage technology for hydrogen mobility. Several projects related to eco-friendly ships and hydrogen, such as the development of sensors for liquefied hydrogen storage and transportation, have also been included.

The city plans to use this program to simultaneously promote eco-friendly marine mobility and establish a hydrogen economy foundation.

Park Dongseok, Director-General of the Advanced Industry Bureau of Busan Metropolitan Government, stated, “Based on the shipbuilding and marine industry, technology development in future mobility, energy, and materials is progressing, and we will continue to advance the sophistication of regional industries and strengthen the competitiveness of new industries.”

Busan City Hall.

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