BUSAN METROPOLITAN CITY ORDINANCE ON FOSTERING AND SUPPORTING THE AEROSPACE INDUSTRY
Enforcement Date: Apr. 16, 2025
Enacted by Busan Metropolitan City Ordinance No. 7573, Apr. 16, 2025
Busan Metropolitan City (Industrial Policy Division)
- Article 1 (Purpose)
- The purpose of this Ordinance is to prescribe matters necessary to systematically foster and support the aerospace industry in Busan Metropolitan City, thereby contributing to the strengthening of the aerospace industry’s competitiveness and the development of local industries.
- Article 2 (Definitions)
- The terms used in this Ordinance shall be as defined in Article 2 of the Aerospace Industry Development Promotion Act.
- Article 3 (Responsibilities of the Mayor)
- The Mayor of Busan Metropolitan City (hereinafter referred to as the “Mayor”) shall endeavor to establish policies necessary to build the foundation for and strengthen the competitiveness of the aerospace industry.
- Article 4 (Formulation and implementation of a Basic Plan)
- (1) The Mayor shall, every 5 years, formulate and implement a basic plan of Busan Metropolitan City for the fostering and supporting the aerospace industry (hereinafter referred to as the “Basic Plan”) including the following:
- 1. Trends in and future outlook for the aerospace industry;
- 2. Basic goals and directions of policies to support the aerospace industry;
- 3. Sector-specific promotion strategies and tasks for supporting the aerospace industry;
- 4. Plans for financing support for the aerospace industry;
- 5. Other matters the Mayor deems necessary to promote and support the aerospace industry.
- (2) Where necessary for formulating the Basic Plan, the Mayor may conduct fact-finding surveys on the aerospace industry both domestically and internationally.
- Article 5 (Support projects)
- (1) To promote the aerospace industry, the Mayor may implement the following projects:
- 1. Support for research and development and for commercialization related to the aerospace industry;
- 2. Cultivation of professional human resources for the aerospace industry;
- 3. Support for startups, fostering, and attraction of investment for enterprises in the aerospace industry;
- 4. Support for holding, participating in, and exchanging through technology competitions and exhibitions, fairs, international events, etc. related to the aerospace industry;
- 5. Establishment of infrastructure to promote the aerospace industry;
- 6. Other projects the Mayor deems necessary to support the aerospace industry.
- (2) The Mayor may provide administrative and financial support, within budgetary limits, to persons who implement the projects under paragraph (1).
- Article 6 (Entrustment of affairs)
- (1) For efficient implementation of the projects under Article 5, the Mayor may entrust all or part of affairs to related institutions, corporations, or organizations.
- (2) Where affairs are entrusted under paragraph (1), matters not prescribed in this Ordinance shall be governed by the Busan Metropolitan City Framework Ordinance on Entrustment or the Busan Metropolitan City Ordinance on Entrustment and Agency of Affairs to Public Institutions.
- Article 7 (Establishment of a cooperation system)
- To promote and support the aerospace industry, the Mayor may establish a cooperation system with the central government, local governments, and related institutions and organizations.
- Article 8 (Awards)
- The Mayor may grant awards, in accordance with the Busan Metropolitan City Ordinance on Awards, to institutions, organizations, or individuals recognized as having made distinguished contributions to the promotion of and support for the aerospace industry.
ADDENDUM
Ordinance No. 7573, Apr. 16, 2025
- This Ordinance shall enter into force on the date of its promulgation.
