Busan is good

Busan Metropolitan City Secures KRW 12.6 Billion in National Funding by Winning 20 New Projects Under the “2026 Regional Innovation Leading Enterprise Development (R&D)” Program

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Busan Metropolitan City, led by Acting Mayor Kim Kyung-duk, announced that 20 projects proposed by Busan-based SMEs were finally selected in the Ministry of SMEs and Startups’ public competition for new projects under the “2026 Regional Innovation Leading Enterprise Development (R&D)” program.

The “Regional Innovation Leading Enterprise Development (R&D)” program is designed to secure growth engines for regional economies by promoting technological innovation among SMEs in strategic regional industries and fostering cooperation ecosystems among industry, academia, and research institutions.
○ Through this selection, the city secured KRW 12.6 billion in national funding and will support research and development (R&D) projects totaling KRW 18 billion over the next two years, including KRW 5.4 billion in municipal funding.

A total of 43 projects were submitted from Busan this year, and 20 projects were finally selected following preliminary reviews and written and in-person evaluations.
○ The selected projects consist of 10 “Strategic Industry Ecosystem Development” projects, which support the establishment of supply chains and industrial ecosystems for regional strategic industries through cooperation among SMEs, universities, and research institutions, and 10 “Regional Enterprise Capacity Enhancement” projects, which strengthen technological innovation and R&D capabilities of regional companies with high growth potential.

By industry sector, the selected projects include six in mobility (shipbuilding), nine in materials and components, and five in energy and environment, paving the way for technological development across Busan’s key industries.
○ In particular, the project titled “Development of a Titanium Laminate–Carbon Fiber Reinforced Plastic (CFRP) Hybrid High-Pressure Storage Module” was selected as an outstanding case by the Ministry of SMEs and Startups and recognized for its excellence in securing core storage technologies in the hydrogen mobility sector and enhancing the technological competitiveness of regional companies.
○ In addition, several projects related to liquid hydrogen and eco-friendly vessels were included, such as the “Development of an Integrated Cryogenic Measurement Sensor for Liquid Hydrogen Storage and Transfer,” raising expectations for synergy with the city’s ongoing efforts to build eco-friendly maritime mobility and a hydrogen economy ecosystem.

Park Dong-seok, Director General of the Advanced Industry Bureau of Busan Metropolitan City, stated, “Building on its competitiveness in shipbuilding and marine industries, Busan has achieved meaningful results by securing the selection of numerous technology development projects in future maritime mobility sectors such as liquid hydrogen, polar navigation, and eco-friendly vessels, as well as in the fields of energy and environment and materials and components, thereby demonstrating the potential for advancing regional strategic industries.” He added, “We will use this selection as an opportunity to accelerate technological innovation in regional strategic industries and continue strengthening competitiveness in future emerging industries.”