Ministry of Land, Infrastructure and Transport Announces Approval of Basic Plan for Urban Convergence Special Zones in 5 Major Metropolitan Cities
Fostering 4th Industrial Revolution Hub in Southern Region... Expected to Become Center of Innovation Ecosystem
On the 7th, Busan City received final designation and basic plan approval for the Busan Urban Convergence Special Zone from the Ministry of Land, Infrastructure and Transport.
In November 2021, the Centum 2 District urban high-tech industrial complex in Haeundae-gu was selected as the leading project site for the Busan Urban Convergence Special Zone.
Since then, from April 2022 to March 2023, a basic plan was established, and in October of this year, it passed the review of the Urban Development Committee of the Ministry of Land, Infrastructure and Transport, achieving the final designation and basic plan approval for the special zone. On the 7th, the Ministry announced the approval of the basic plans for urban convergence special zones in five major metropolitan cities.
The five major metropolitan cities are Busan, Daegu, Ulsan, Daejeon, and Gwangju.
With this, the city will officially begin creating the 'Busan-style Pangyo Techno Valley' within the Busan Urban Convergence Special Zone, which will be the future growth engine of Busan and the center of the domestic 4th Industrial Revolution.
Focusing on the Centum 2 District urban high-tech industrial complex, the plan is to build an ‘Information and Communication Technology (ICT) Convergence Hub Valley’ through innovation in Busan’s manufacturing industries such as smart ships, robots, intelligent machinery, and information technology (IT), and to create a ‘complex infrastructure’ where industry, residence, and culture coexist.
In particular, with this final designation of the special zone, the plan is to build a space attractive to youth and companies by ① establishing infrastructure in the urban area, ② aiming for a balance of work, residence, and leisure (Jikjurok), and ③ providing government budget support and concentrated support from multiple ministries.
Mayor Park Hyung-jun said, “This final designation of the Urban Convergence Special Zone will be the starting point for Busan to become a digital innovation city leading the quantum jump in the economy of the Southeast region. We will foster Centum 2 District as a 4th Industrial Revolution hub in the southern region and develop it as the center of a global innovation ecosystem connecting Busan, Ulsan, and Gyeongnam. We will also successfully create and grow the Urban Convergence Special Zone to make Busan a city where young people want to come and stay, as the center of new industries.”
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