Busan is good

Busan Metropolitan City Enters the Global Top 70 Emerging Startup Cities, Rising 10 Places in Just One Year

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Busan Metropolitan City, led by Mayor Park Heong-joon, announced that it has ranked within the world’s top 70 in the “Top 100 Emerging Startup Ecosystems” evaluated by Startup Genome, a global startup ecosystem assessment organization.

The ranking is based on the Global Startup Ecosystem Report 2026 (GSER 2026), unveiled by Startup Genome at Viva Technology (VivaTech), the world’s largest startup and technology exhibition, held in Paris, France, on June 17. The report was released at 5:00 p.m. Korea Standard Time on the same day (10:00 a.m. local time on June 17).

Following its first entry into the top 80 in 2025, Busan advanced into the top 70 in 2026, climbing 10 places in just one year.

The rankings were determined based on performance over a two-and-a-half-year period from July 2023 through December 2025 across more than 350 cities worldwide. Startup ecosystems were evaluated in six categories: Performance, Funding, Market Reach, Talent & Experience, AI-Native Cluster Factor, and R&D Engine. Busan received particularly strong evaluations in Funding and R&D Engine, demonstrating the competitiveness of its startup ecosystem on the global stage.

Busan Metropolitan City attributes this improvement to the results of its sustained efforts to strengthen the startup ecosystem, including the establishment of the Busan Startup Investment Agency in 2025, the creation of a KRW 1.5 trillion startup fund, the expansion of startup infrastructure such as Global Startup Hub Busan, and the enlargement of comprehensive startup support programs covering all stages of business development.

In particular, the establishment of the Busan Startup Investment Agency, the nation’s first dedicated startup support institution, strengthened the support framework for startup growth. Other key contributors included the revitalization of the investment ecosystem through regional startup funds, the expansion of startup infrastructure such as Global Startup Hub Busan, and broader support for startups seeking international market entry through proactive and comprehensive startup policies.

Startup Genome also recognized Busan as one of the fastest-growing startup ecosystems in Asia. According to the organization, Busan’s continued policy initiatives, active public-sector investment, and efforts to connect the strengths of its key regional industries with future technology sectors have been major drivers of its growth.

The report noted that the value of Busan’s startup ecosystem has more than tripled over the past four years to reach USD 3 billion. Exit value increased by more than 400 percent over the past two years, while total startup investment grew by 39 percent in the previous year alone, demonstrating clear growth across the entire startup ecosystem.

Lee Jin-su, Financial and Startup Policy Officer of Busan Metropolitan City, said, “Busan’s rise into the global top 70 emerging startup cities amid intensifying competition among startup hubs worldwide is the result of our continuous efforts to foster a vibrant startup ecosystem. We will continue to dedicate our full efforts to advancing the ecosystem and strengthening global competitiveness, with the goal of entering the global top 30 startup cities by 2030.”