BPA to Provide KRW 130 Million Support...
Total Joint Fund Reaches KRW 280 Million
Entrusting Operations to Specialized Institutions
Strengthening Growth Support for Shipping and Port Startups
Busan Port Authority is inviting applications for the role of operating institution for the 'Shipping and Port Startup Support Fund,' which aims to support technology startups in the shipping, port, and logistics sectors.
Busan Port Authority (BPA, President Song Sangkeun) announced that it will be accepting applications for the operating institution of the Shipping and Port Startup Support Fund, established to promote entrepreneurship and foster technology-based startups in the shipping, port, and logistics industries in the Busan region, from December 24, 2025, to January 7, 2026.
Since signing a 'Business Agreement for Supporting Technology Startups in the Shipping and Port Industry' with Busan Metropolitan City, Korea Ocean Business Corporation, and Korea Startup Forum in February 2022, Busan Port Authority has been operating '1876 BUSAN,' a startup support space specializing in shipping and ports near Busan Station.
Over the past four years since the agreement, Busan Port Authority has supported 17 startups with technologies in digital transformation, smart ports, and eco-friendly and automation technologies by providing free office space, research and development (R&D) funding, and joint R&D opportunities. During this period, the total amount of support for startups and R&D reached 3 billion won.
This call for applications is intended to entrust the fund's operation to an external institution with expertise, in order to advance the startup support system and strengthen growth support from business model development to investment attraction.
The selected operating institution will run startup support programs using the jointly established Shipping and Port Startup Support Fund (1876 BUSAN). The total support fund amounts to 280 million won, including 130 million won contributed by BPA.
Support includes business model development, R&D project planning, domestic and overseas market development and promotion, education, management consulting, acceleration, investment attraction linkage, and strengthening networking among resident companies. A performance management system will also be established to systematically manage and analyze employment, sales, and investment attraction outcomes of resident companies.
President Song Sangkeun stated, "It is important for specialized public institutions to play a role in reducing the difficulties faced by startups in the shipping and port sector during commercialization and investment attraction after technology development," adding, "We will create a sustainable startup ecosystem in the shipping and port sector by combining private sector expertise with public sector support capabilities."
The application process will be conducted through the websites of Busan Port Authority and Korea Ocean Business Corporation. The final operating institution will be selected through document screening and presentation evaluation, and a consignment contract will be signed in January 2026.
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