BUSAN < invest Korea

According to Yonhap News,

Busan Metropolitan City is to intensively invest KRW 600 billion over the next five years in artificial intelligence, metaverse, and 5G projects as a response to digital transformation.

The city held the 17th Emergency Economic Response Meeting with the subject of 'measures to revitalize the digital industries' on September 16.

The meeting was attended by officials from ETRI, Korea Electrotechnology Research Institute, National Information Society Agency, Korea Information & Communication Contractors Association, Busan IT Industry Promotion Agency, Busan Institute of S&T Evaluation and Planning, and Busan Technopark.

The city is committed to invest KRW 669.9 billion over the five years in 4 major areas including fostering of digital innovative talent, establishment of metaverse, attraction of research institutes and support for digital enterprises.

The city plans to attract a South-East area office of ETRI, establish a South-East area AI research institute, and attract the Korea Data Industry Promotion Agency.

Next, it plans to establish a global cooperation network with the Association of Korean-Canadian Scientists and Engineers, and others.

In the AI area, it will push for a pilot project of AI convergence, AI regional base. In the cloud area, it plans to attract cloud enterprises, create a green energy data center park, and revitalize cloud services.

When it comes to metaverse, it will build a Songjeong metaverse surfing village, realize citizens-participating-type metaverse 'META-Busan', create a cluster specialized in blockchain, expand pilot projects for citizens' experience, and block chain special district project.

In the field of 5G specialized network, it will participate in the establishment of South-East area 5G specialized network technology support center promoted by the Ministry of Science and ICT, and a project of building 5G specialized network pilot district in Busan.

Busan-city is to invest KRW 25 billion in 'Busan ICT youth startup hub', creating 'Busan-type Digital Innovation Park', and projects to induce transition of traditional industries to digital industries.

The city also set a goal of fostering about 5,000 talents over the next five years by operating programs such as the operation of digital innovation academy.

wink@yna.co.kr

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Source:Yonhap News (September 16, 2021)