Busan is good

Busan Becomes Korea’s First to Designate an “Industrial Innovation Zone” and Breaks Ground on Elastic Materials Research Center for Advanced Materials Industry

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Busan Metropolitan City (Mayor Park Heong-joon) announced that it has officially designated Korea’s first Industrial Innovation Zone and, on June 9, held a groundbreaking ceremony for the Elastic Materials Research Center, envisioned as a global hub for advanced materials R&D.

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Project Overview

The Elastic Materials Research Center will serve as a specialized facility to support the development of the advanced materials sector.

• ●Location: 380-32, Samrak-dong, Sasang-gu, Busan (former Samrak Middle School site)

• ●Site Area: 2,817 m²

• ●Total Floor Area: 3,745.71 m²

• ●Facilities:

• ○One underground floor and five above-ground floors

• ○Research labs, meeting rooms, training rooms, equipment analysis labs, and space for tenant companies

• ●Scheduled Completion: End of 2026

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Background & Collaboration

Since Busan is a strategic cluster for materials and components industries, the City has long pursued the establishment of a specialized research center in advanced materials.

In 2019, Busan was selected for the Ministry of Land, Infrastructure and Transport’s Industrial Zone Revitalization Project, out of 140 local governments. This selection initiated land acquisition negotiations for the current site.

After years of collaboration with the Busan Metropolitan Office of Education, MOLIT, LH Corporation, and Sasang District Office, the City reached an agreement to separate the research center site from the broader Sasang revitalization zone and fast-track its development.

In January 2024, the site was officially designated as Korea’s first local-government-led Industrial Innovation Zone. Land subdivision and agreements followed to accelerate the process.

In May 2025, the City launched full-scale project management services, and on June 9, officially began construction.

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Mayor’s Statement

Mayor Park Heong-joon emphasized:

“We will nurture the Elastic Materials Research Center into Korea’s only top-tier facility capable of advanced material R&D.
This will be a place where young talent can realize their dreams and where Busan becomes a city people want to stay in.”

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Appendix: Project Summary

• ●Period: 2021–2026

• ●Location: Samrak-dong, Sasang-gu (former Samrak Middle School)

• ●Area: 2,817 m² (building: 3,745.71 m²)

• ●Structure: 1 underground + 5 above-ground floors (1 research building + 1 equipment building)

• ●Functions: R&D facilities, training rooms, equipment labs, corporate offices

• ●Partners: Busan Metropolitan City, LH Corporation, Ministry of Land, Infrastructure and Transport, Busan Office of Education

• ●Investment: Approx. KRW 34.2 billion (KRW 6.5 billion public, KRW 27.7 billion private)