Busan is good

Busan Launches the Busan Startup Investment Agency (BSIA) – A New Command Center for Startup Innovation

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The City of Busan (Mayor Park Heong-joon) announced that it held the official launch ceremony for the Busan Startup Investment Agency (BSIA) on April 9 at 2:00 PM, marking the beginning of its operation as the control tower of the city’s startup ecosystem.

The event, held at BSIA headquarters in Haeundae, brought together over 200 participants, including:

• ●Mayor Park Heong-joon

• ●Seo Jong-gun, President of BSIA

• ●Kim Hyeong-cheol, Busan City Council Member

• ●Yang Jae-saeng, President of the Busan Chamber of Commerce and Industry

• ●Kim Jong-ho, Chairman of the Korea Technology Finance Corporation

• ●Yoo Jong-pil, President of the Korea Institute of Startup & Entrepreneurship Development (KISED)

• ●Industry representatives, accelerators (ACs), venture capitalists (VCs), and citizens

During the ceremony, 11 organizations signed an MOU for joint cooperation toward building a global startup city. These institutions, from both the public and private sectors, pledged to contribute resources and networks to foster an innovation-driven startup ecosystem.

Participating institutions:
Busan Metropolitan City, BSIA, Korea Technology Finance Corporation, Korea Institute of Startup & Entrepreneurship Development (KISED), Korea Credit Guarantee Fund, Korea Trade-Investment Promotion Agency (KOTRA) Busan Support Center, Korea Venture Capital Association,Korea startup Accelerator and early stage Investors Association, Korea Business Angels Association, Korea Startup Forum, Busan Intellectual Property Center

BSIA, established on February 5, 2025, is the first public agency in Korea dedicated solely to technology startup support and venture investment.

Operating with five core teams —

• ●Innovation Startups

• ●Growth Infrastructure

• ●Fund Investment

• ●Global Investment

• ●Operations Support —
  BSIA officially began operations on March 24 with 35 personnel and five part-time executive officers.

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Launch Ceremony Program Highlights:

• ●Opening tape-cutting ceremony

• ●Report on BSIA’s founding process

• ●Support video from local citizens

• ●Remarks from Mayor Park and startup leaders

• ●Joint cooperation MOU signing

• ●Group photo session

• ●“Ask & Vision” Q&A with the BSIA president and participants

• ●Networking session with local companies and entrepreneurs

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BSIA’s Mission and Role

As a one-stop startup support hub, BSIA aims to:

• ●Integrate the city’s scattered startup support functions

• ●Discover and nurture technology startups

• ●Connect them with investments and infrastructure

• ●Foster global networking and partnerships

The agency will play a pivotal role in positioning Busan as a major startup city in Asia, supporting startups from the earliest stages to unicorn-level growth, and delivering tailored support at every stage, including investment for hiring, R&D, facilities, and marketing.

Mayor Park Heong-joon stated:

“The launch of BSIA marks a meaningful starting point for transforming Busan into a leading Asian startup city.”
“We will spare no effort to support BSIA in becoming a successful model for startup ecosystems in Korea and beyond.”

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[Appendix] BSIA at a Glance

Name	Busan Startup Investment Agency (BSIA)
Type	City-funded public foundation
Purpose	Support technology startups and activate venture investment to build a regional innovation ecosystem
Location	2F, 45 Centumdong-ro, Haeundae-gu, Busan
Staff	5 departments, 35 personnel

Key Strategic Pillars:

• 1.Integrated Startup Portal: Demand-oriented consulting through field research, SWOT/BM/financial analysis, and customized linkage services

• 2.Startup Ecosystem Strengthening: Unified support system from early stage to scale-up; expansion of support for deep-tech and new industries

• 3.Funding Expansion: Targeting KRW 1 trillion in new venture funds over 5 years, leveraging municipal seed funding and financial institution participation

• 4.Space Innovation: Establishing a seamless facility network (1Hub & Spot Connect) to support discovery, investment, and global expansion from a single location