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Busan Metropolitan City Expands the "Busan Anchor Company Development Support Project" to Drive Innovation and Co-Growth in the Manufacturing Sector

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The Busan Metropolitan City announced that it will expand the "Busan Anchor Company Development Support Project" to discover and nurture core companies that will lead innovation and co-growth in the regional manufacturing sector.

• ●The Busan Anchor Company Development Support Project selects and fosters Busan-style anchor companies
  that can revitalize Busan’s industrial ecosystem, particularly focusing on major regional industries.

• ●The project was first launched in 2024, when three companies were selected and supported with approximately 1 billion KRW.

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Busan is currently facing a slowdown in regional manufacturing growth and heightened domestic and international uncertainties,
leading to a decline in overall economic dynamism.
In this situation, creating new growth engines has become an urgent task.

• ●In particular, with the declining proportion of manufacturing and the absence of major conglomerates,
  it is essential to discover core manufacturing companies and provide intensive support to help them grow to a higher level.

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To address this, the city has expanded and restructured the project as follows:

• ●Selection of 17 companies by 2029

• ●Total project funding of approximately 11.7 billion KRW (entirely funded by the city)

The expanded project is named the "Manucorn Development Project,"
combining the words "Manufacture" and "Unicorn."

• ●The previous project supported three companies over three years with 3 billion KRW.

• ●Starting this year, the project will support 17 companies over six years with 11.7 billion KRW, representing a significant expansion.

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Key Details of the Expansion:

• ●Establishment of a three-stage support system:

• ○Pre-Anchor (Pre-Manucorn) → Anchor (Anchor Manucorn) → Top-Tier Anchor (Top-Tier Manucorn)

• ●Companies will be supported to grow from small manufacturing companies to small and medium-sized enterprises (SMEs),
  then to mid-sized enterprises, and eventually to quasi-large companies.

• ●Eligible companies:

• ○Manufacturers in Busan’s nine strategic industries.

• ○Pre-Anchor stage also includes producer service companies.

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Support Programs:

• 1.Anchor Company Development Program:

• ○In-depth corporate analysis and growth strategy development

• ○Support for implementing growth strategies through R&D and non-R&D activities

• ○Testbed support

• ○Technology assetization support

• 2.Regional Industry Development Program:

• ○Strengthening global networking

• ○Supporting regional innovation collaboration

• ○Facilitating inter-company technology and investment cooperation

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Performance of the 2024 Pilot Companies:

• ●The three companies selected last year — Hwashin Bolt Industry, Jeil Electric, and Unitechno —
  developed technologies in response to customer demands, expanded export markets, and were selected for the Next-Generation World-Class Products program by the Ministry of Trade, Industry and Energy.

• ●They also achieved increases in sales and exports, as well as significant contributions to job creation.

The city plans to continue supporting the newly selected companies in 2025 intensively, aiming to create a synergy effect.

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Application Information:

• ●Application deadline: May 20, 2025, 2:00 p.m.

• ●How to apply: Online submission via the Busan Technopark e-submission system (eval.btp.or.kr)

• ●The project announcement and details can be found on the websites of the Busan Metropolitan City and Busan Technopark.

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Park Dong-seok, Director-General of the Busan Advanced Industry Bureau, stated,
"Busan-style anchor companies will play a central role in driving the innovative growth of the regional economy.
We will continue to provide close support to help companies grow into mid-sized, quasi-large, and large enterprises,
ensuring that they achieve substantial results."