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5th Busan RISE Committee Convenes – Launch of the Busan-Type RISE Project in Collaboration with Universities

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Busan Metropolitan City (Mayor Park Heong-joon) announced that the 5th Busan RISE Committee will convene today (May 12) at 2:00 p.m. in the Crystal Ballroom of Lotte Hotel Busan.

The Busan RISE Committee, launched on December 16 last year, is the highest decision-making body for RISE initiatives in Busan. It consists of 30 members, including representatives from the city government, city council, local universities, industry, the city’s Office of Education, and innovation organizations. The committee deliberates and makes decisions on key issues related to RISE.

This meeting will be attended by 30 committee members, including Mayor Park as chair, university presidents from the Busan area, business representatives, university stakeholders, and executives from RISE partner companies—totaling around 80 participants.

A co-chair will be elected from among the university presidents serving on the committee, according to RISE operational regulations, to build a horizontal and cooperative ecosystem between local governments and universities. The co-chair will serve alongside the mayor in leading the committee.

The event also includes presentations of RISE implementation strategies and goals by each university, reinforcing collaboration and expressing a collective commitment to the success of the Busan-type RISE initiative as a hub of regional economic and social development.

Presentations will be given by:

• ●Four research-oriented universities (Pukyong National University, Korea Maritime and Ocean University, Dong-A University, Pusan National University)

• ●Nine education-oriented universities (Kyungsung University, Kosin University, Tongmyong University, Dongseo University, Dong-Eui University, Catholic University of Busan, Busan University of Foreign Studies, Silla University, Youngsan University)

• ●Seven vocational and lifelong education-oriented institutions (Korea Polytechnics Busan, Daedong College, consortium of Dong-Eui Institute of Technology and Busan Arts College, Busan Kyungsang College, Busan Institute of Science and Technology, Busan Health College, Busan Women’s College)

Each institution will share its RISE vision, areas of specialization, local talent development goals, and flagship projects, expressing a commitment to successful implementation based on cooperation.

In 2024, the first year of the Busan-type RISE initiative, a total of KRW 134.1 billion in funding has been allocated to 122 projects across 21 universities following a selection review in April. With no objections filed, final project plans incorporating evaluator feedback were submitted by the end of April, and the initiative will begin in earnest starting in May.

The City of Busan will pursue the RISE project over five years through 2029 in partnership with the 21 selected universities, aligning with national performance indicators. Goals include:

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

• ●A 10% improvement in university-industry-research collaboration performance through the creation of innovation clusters

• ●A 20% rise in university-based startup rates through the Busan-type University Startup Package initiative

This will contribute to a sustainable innovation ecosystem in which talent and future technology circulate, creating tangible outcomes that businesses can feel—from talent cultivation to employment and settlement.

To this end, from May, the city will collaborate with the Busan RISE Innovation Center to launch an “Enhancement and Advancement Plan for Busan-type RISE Performance.” The plan is designed to ensure that university visions and goals are achieved and that student- and business-centered results are realized.

In addition to tracking the achievement of performance targets, the city will form a dedicated consulting group to monitor implementation, resolve operational issues, and recommend institutional improvements—providing continuous advisory support.

Meanwhile, in line with the government’s national initiative, Pukyong National University and Pusan National University are competing to host the National Research Lab (NRL 2.0), which aims to strengthen Korea’s university research competitiveness. If selected, each university will receive up to KRW 100 billion in support over ten years to lead world-class research. The RISE Committee will express strong collective support and commitment toward bringing this project to Busan.

Mayor Park emphasized,
“To elevate Busan as a global hub city, the growth of local universities is essential. I hope universities will become strong partners in co-prosperity, growing together with local communities through close collaboration with businesses and innovation stakeholders.”

He added,
“We will provide full support to ensure the Busan-type RISE initiative takes root successfully and delivers meaningful results.”