Saneun to Establish 'KDB NextOne Busan' for Startup Incubation

Childcare Program Scheduled to Operate for Five Months Starting in July

Korea Development Bank announced on the 22nd that it has selected Busan as a regional hub to expand the domestic venture ecosystem and is promoting the establishment of 'KDB NextONE Busan,' an incubation program targeting promising startups in the Southeast region.

Photo by Moon Honam, KDB Industrial Bank 자료사진 / Moon Honam 기자 munonam@

KDB NextONE is a startup nurturing program operated by KDB since 2020 at Front1 in Mapo, Seoul, selecting and supporting 30 startups annually (15 startups per cohort). Up to last year, a total of 7 cohorts and 105 startups have been selected and incubated, among which 51 startups successfully attracted approximately 60 billion KRW in investment (11.4 billion KRW directly invested by Korea Development Bank) during the incubation period.

On the 8th, KDB announced a bid for selecting a co-operating company for KDB NextONE Busan and is currently accepting business proposals until May 20. Through this process, KDB plans to select about 15 promising startups in the Southeast region as the first cohort by the end of June and conduct an incubation program for approximately five months starting from July.

The incubation space for KDB NextONE Busan will be located on the 9th floor of the Southeast Investment Finance Center of Korea Development Bank in Jungang-dong, Busan. This space will be developed as a complex area combining startup IR spaces, VC investor offices, and incubation company offices.

A KDB official stated, “Considering the government policy to develop Busan as the southern hub for national balanced development and Busan City's active startup support policies such as the establishment of Busan Startup Agency and the creation of Startup Park, Busan was finally selected as the regional hub,” adding, “Through the implementation of KDB NextONE Busan, we aim to expand the venture ecosystem centered in the metropolitan area to the regions, contributing to national balanced development and revitalization of the regional venture ecosystem.”