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Regional Venture Ecosystem Cooperation Gains Momentum in Busan Metropolitan City

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Busan Metropolitan City, led by Mayor Chun Jae-soo, announced that it will work closely with the Financial Services Commission and financial and investment institutions to strengthen the regional venture ecosystem.

Today (July 3), the City will participate in the “Busan Advanced Industries Venture Ecosystem Roundtable,” hosted by the Financial Services Commission at the Busan Eurasia Platform at 9:10 a.m. During the meeting, participants will hear directly from local companies and investment firms, while discussing ways to expand regional venture investment linked to the National Growth Fund and support the growth of innovative businesses.

Approximately 30 participants are expected to attend, including Mayor Chun Jae-soo, Financial Services Commission Chairperson Lee Eok-won, Korea Development Bank Chairman Park Sang-jin, Busan Bank President Kim Sung-joo, as well as representatives from regional investment firms and promising local companies.

The “Busan Advanced Industries Venture Ecosystem Roundtable” will include presentations on regional business success stories achieved through locally managed funds, discussions on strengthening the advanced industries ecosystem, opportunities for local startups to share challenges and policy suggestions, and a question-and-answer session.

First, BNK Venture Investment, represented by CEO Jung Sung-jae, and Series Ventures, represented by CEOs Park Jun-sang and Kwak Sung-wook, both managers of sub-funds under the Busan Future Growth Venture Fund established by the City, will present the performance of regional fund management and discuss measures to expand regional investment in connection with the National Growth Fund.

In addition, Korean Air's Aerospace Division will present proposals for strengthening the regional industrial ecosystem to foster future industries such as aerospace and advanced manufacturing.

Christine Company, operator of the smart footwear manufacturing platform “Shinple,” represented by CEO Lee Min-bong, will share its business growth journey since its founding, discuss challenges in attracting investment, and participate in a question-and-answer session with attendees.

Building on this roundtable, the City plans to further accelerate efforts to strengthen the competitiveness of the regional venture ecosystem and reinforce growth foundations centered on strategic industries, including the maritime sector.

The City will strengthen the supply of venture capital to promising local companies by expanding its venture fund portfolio from the current KRW 1.5 trillion to KRW 2 trillion by 2030.

In addition, the City plans to move beyond relying primarily on the Fund of Funds by promoting the establishment of a public-private venture fund-of-funds that attracts private capital, thereby expanding venture investment beyond the Seoul metropolitan area into regional economies.

Furthermore, Busan Metropolitan City will strengthen the competitiveness of future industries by integrating maritime, port, and logistics industries with artificial intelligence (AI) technologies. The City also plans to foster startups specializing in Artificial Intelligence Transformation (AX) for the maritime sector to establish a Busan-centered ecosystem for emerging industries.

Following the roundtable, Mayor Chun Jae-soo is scheduled to attend the opening ceremony of the Busan Comprehensive Microfinance Support Center, located in Jung-gu, to congratulate the launch of the new center.

Mayor Chun Jae-soo said, “I would like to thank the Financial Services Commission for visiting Busan at the very beginning of the Ninth Municipal Administration to hear directly from businesses in the region. A revitalized Busan begins with creating an environment where companies can establish themselves, grow, and attract investment in the city. We will continue to strengthen cooperation with central government ministries and the financial sector to actively support local companies in taking the next leap forward.”