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Busan Metropolitan City Opens Korea's First Blockchain and AI Digital Finance Innovation Research Center

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Busan Metropolitan City (Mayor Chun Jae-soo) announced that it will hold the opening ceremony for the Busan Blockchain and AI Digital Finance Innovation Research Center on the 22nd floor of the Busan International Finance Center (BIFC II) at 10:10 a.m. today (October 13), marking the start of the center's full-scale operations.

Approximately 100 people are expected to attend the ceremony, including Mayor Chun Jae-soo; Kang Mu-gil, Chairperson of the Busan Metropolitan Council; Choi Jae-won, President of Pusan National University; Yang Jae-saeng, Chairperson of the Busan Chamber of Commerce and Industry; Park Jae-beom, Mayor of Nam-gu District; and representatives of companies based at the Busan International Finance Center (BIFC) and related organizations.

The ceremony will feature a ribbon-cutting, a presentation on the project's progress and development strategy, opening remarks, congratulatory speeches, a commemorative photo session, and a tour of the facilities.

The Busan Blockchain and AI Digital Finance Innovation Research Center will serve as a technical anchor for digital finance, integrating blockchain and artificial intelligence (AI) technologies into finance to establish a virtuous ecosystem that connects talent development with business growth.

Building on its experience with demonstration projects in the Blockchain Regulation-Free Special Zone, Busan Metropolitan City established the research center to strengthen research capabilities for securing core technologies and advancing technological development. The center will also enable the city to respond proactively to changes in the digital finance landscape driven by AI and other advanced technologies.

The research center occupies 229.54 square meters of dedicated space on the 23rd floor of the Busan International Finance Center (BIFC II) and is equipped with offices, a dedicated training facility, and seminar rooms.

Its core functions include providing customized professional training tailored to industry needs, conducting joint R&D based on business demand, and offering technical consulting and PoC support.

In particular, the center plans to identify technical challenges faced by companies located in the Munhyeon Financial Complex and address them through joint research projects. Researchers will work directly with companies throughout the process, from defining problems to designing and validating technical solutions, helping translate research outcomes into technological development and commercialization.

The center will also operate in conjunction with Pusan National University's Graduate School of Convergence Security, which offers master's and doctoral programs, while continuously expanding practice-oriented education in digital finance and cooperation among local government, industry, academia, and research institutions.

In addition, the center will implement the Core Talent Development Program for Convergence Security, which was selected this year through a competitive call for proposals by the Ministry of Science and ICT under a collaborative initiative between Busan Metropolitan City and Pusan National University. The program will promote industry-oriented education and research by integrating blockchain- and AI-based convergence security technologies with the region's specialized industries, including maritime, port operations, shipbuilding, and manufacturing.

The center will also establish a working-level consultative body involving local government, industry, academia, and research institutions to strengthen cooperation among businesses, universities, and research organizations. It will serve as a regional talent recruitment platform, helping trained professionals secure employment with local companies through internships and recruitment opportunities or establish their own businesses.

Through the opening of the research center, Busan Metropolitan City plans to further develop the Munhyeon Financial Complex into a digital finance hub powered by blockchain and AI technologies, thereby strengthening the competitiveness of the digital finance industry.

Mayor Chun Jae-soo emphasized, "The digital finance industry is undergoing rapid transformation with advances in technologies such as blockchain and artificial intelligence. More than ever, it is essential to establish a virtuous cycle in which research and education directly address the challenges businesses face and lead to tangible growth."

He added, "We expect this research center to serve as a vital technical anchor for digital finance, connecting university expertise with business needs. By intensively developing specialized talent tailored to regional needs and actively supporting innovative business growth, we will firmly establish Busan as a leading digital finance hub in both name and substance."