Busan Metropolitan City (Mayor Park Heong-joon) announced that it has been selected for the Ministry of Trade, Industry and Energy’s 2025 initiative to establish new infrastructure in the automotive sector—the "Establishment of Shared Center for Giant Casting."
This project is led by the Korea Automotive Technology Institute with the Korea Institute of Machinery and Materials participating as a joint research institution.
With this selection, the city plans to invest a total of KRW 29 billion (KRW 10 billion from the national government and KRW 19 billion from the city budget) over five years from 2025 to 2029. The investment will fund the following: ▲ establishment of the Shared Technical Support Center for Giant Casting ▲ construction of ultra-large future vehicle component production and analysis/evaluation facilities with a capacity of over 6,000 tons ▲ corporate support including technology development, testing, prototype production, and technological exchange through networks.
The Shared Technical Support Center for Giant Casting will utilize the installed equipment to actively support regional auto parts companies in developing integrated ultra-large components for future vehicles. It will also serve as a key project to strengthen their transition to the future vehicle industry.
Furthermore, under the leadership of KATECH, the project is expected to contribute significantly to the advancement and revitalization of the local future mobility ecosystem through joint future vehicle projects and professional workforce development.
In addition, on April 29, the city introduced the "Establishment of Shared Center for Giant Casting" as a core task of its “Response Strategy for Overcoming the Crisis and Advancing the Future of Busan’s Automotive Industry” during the 51st Emergency Economic Countermeasure Meeting, chaired by Mayor Park with participation from business leaders and experts.
Mayor Park Heong-joon stated, “Our city is steadfastly carrying out R&D and core infrastructure establishment projects to transition into the future vehicle industry,” and added, “We will continue to make our utmost efforts to create a sustainable ecosystem for the future vehicle industry.”
This content has been translated by AI. Please refer to the attached original Korean version for accuracy if needed.
Translated by AI
Link to Busan press releases in Korean