Busan is good

Busan Accelerates "Busan-Type RISE" Initiative with 20 Selected Universities

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The Busan Metropolitan City (Mayor Park Heong-joon) announced on April 10 that it has selected 20 local universities and 122 projects for the Busan-Type Regional Innovation System & Education (RISE) initiative to strengthen university-led innovation and boost regional development.

The selection was finalized through deliberations by the Busan RISE Selection Evaluation Committee and the Busan RISE Steering Committee.

In its first year, the Busan-Type RISE initiative will focus on four flagship projects and twelve core strategies, investing KRW 134.1 billion. From 2025 to 2029, the initiative will foster specialized regional universities through collaboration with local industries and community stakeholders.

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Vision:

"Creating a New Wave of Innovation in Global Hub City Busan through Busan-Type RISE"

4 Strategic Pillars:

• 1.Human Wave – Talent development for future industries

• 2.Industrial Wave – Advancement of regional industries

• 3.Social Wave – Expansion of local value and community innovation

• 4.University Wave – University transformation and global competitiveness

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Over the five-year period, the initiative aims to achieve measurable outcomes aligned with government KPIs:

• ●15% increase in local employment retention rate through talent development tailored to regional industries

• ●10% increase in university-industry-research collaboration through local innovation clusters

• ●20% increase in university-led startups through customized startup packages

These outcomes will form the basis for a sustainable innovation ecosystem where talent, technology, and industry are closely interconnected.

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Selection & Evaluation Process

The final selection was conducted by the Busan RISE Innovation Center, a professional agency commissioned to ensure objectivity and expertise. The Evaluation Committee, composed of experts from academia, research, and industry, conducted both document reviews and in-person interviews over a five-day intensive session.

Universities were evaluated on:

• ●Innovation and specialization strategies

• ●Alignment with local industrial needs

• ●Feasibility of university-industry cooperation models (e.g., "Open UIC" – University-Industry Collaboration)

• ●Concrete plans for measurable outcomes (employment, entrepreneurship, retention)

• ●Effectiveness of financial investment strategies

Prior to the final evaluation, preliminary screenings were conducted in January and February. Universities were asked to revise and improve their proposals based on feedback.

Proposals were strengthened through:

• ●Strategic planning tailored to local industry and community needs

• ●Concrete partnership models with local enterprises

• ●Measures for increasing regional employment and startup activation

• ●Regional cluster-based innovation ecosystem development

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Next Steps

• ●April 10: Notification of selected universities

• ●April 10–17: Period for filing objections

• ●End of April: Submission of revised plans and signing of project agreements

• ●Early May: Official launch of the RISE initiative

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Kim Gui-ok, Director-General of the Youth & Industry-Academia Cooperation Bureau of Busan, stated:

“This year marks the official launch of the Busan-Type RISE initiative, following two years of pilot testing.
We will continue to work closely with universities, companies, and other regional innovation actors to build a successful and sustainable model of university-led regional innovation in Busan.”

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Appendices (Not included here)

• ●List of the 20 selected universities and their innovation strategies

• ●Breakdown of projects by specialization field

• ●Timeline and key performance metrics