Eight Organizations, Including BISTEP, Sign Agreement to Foster Busan Research Industry Promotion Complex

Strengthening Joint Response Systems and Information Exchange
to Support ICT Company Growth and Build an Innovative Ecosystem

On May 27, the Busan Institute for Science and Technology Promotion (BISTEP), led by Director Kim Youngbu, held a joint cooperation agreement ceremony at the Westin Chosun Hotel in Busan to foster the Busan Research Industry Promotion Complex.

Eight organizations, including BISTEP, are signing a business agreement. Provided by BISTEP

This agreement is part of the "Busan Research Industry Promotion Complex Development Project" being promoted by the Ministry of Science and ICT and Busan Metropolitan City. The project aims to transform the Centum City General Industrial Complex into a specialized ICT contract research cluster, with the goals of supporting the growth of local companies and building an innovative ecosystem.

A total of eight organizations participated in the agreement, including BISTEP, the Busan IT Industry Promotion Agency, the Busan Technology Startup Investment Institute, the Busan Center for Creative Economy and Innovation, the Busan Research and Development Special Zone of the Innopolis Foundation, Pusan National University, Busan University of Foreign Studies, and Dongseo University. These organizations plan to strengthen industry-academia cooperation based on their respective functions and expertise, including joint R&D, technology consulting, and talent development.

In particular, the role of research industry support institution currently carried out by Pusan National University will be expanded in the future to include Busan University of Foreign Studies and Dongseo University. In addition, support for discovering promising contract research companies and for overall company growth, such as increasing sales and attracting investment, will be further strengthened.

Kim Youngbu, Director of BISTEP, stated, "Through this agreement, we have established an organic cooperation system based on expertise and infrastructure," and added, "We will actively support the Busan Research Industry Promotion Complex so that it can become a hub for the contract research industry based on digital convergence ICT."

The Busan Research Industry Promotion Complex was designated in 2023 along with Daejeon in accordance with the Research Industry Promotion Act, with BISTEP serving as the general operating institution for the development project. The project consists of a total of three phases, each lasting four years, and is expected to be carried out for up to twelve years.