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To be the marine capital, Busan city to invest KRW 96.7 bln in digitization projects

According to Yonhap News,

The city of Busan announced an investment plan on Feb 17, funneling nearly KRW 96.7 billion budgets in four main tasks which include 111 sub-projects to meet its vision to become the marine capital in the digital age. The four agenda encompasses 42 projects for digitization (KRW 12.5 billion), 18 (KRW 15.4 billion) to give universal access to digital innovation, 13 (KRW 44.7 billion) in reshaping key growth industries to be digitized and 38 projects (KRW 24.01 billion) for social welfare programs.

The outline came out following careful deliberation from the city’s in-house committee which consists of industry specialists, professionals and senior level officials in public bodies. Under such initiatives, the city authorities will form what’s called ‘Regulation-Free Zones’, a type of regulatory sandbox to incubate block chain business, create a mechanism to better attract investment into Busan city, establish a civil engagement platform and ITS and to embrace innovation ecosystem to drive growth in data service etc.

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Source: Yonhap News (Feb 17, 2021)

** This article was translated from Korean.