The Busan Economic Promotion Agency signed an MOU with Busan's Seo-gu District Office and the National Institute for Mathematical Sciences on Wednesday to cluster public institutions and foster mutual cooperation within the Seo-gu Medical R&D Knowledge Industry Center. [Busan Economic Promotion Agency]
The Busan Economic Promotion Agency signed an MOU with Busan's Seo-gu District Office and the National Institute for Mathematical Sciences on Wednesday to cluster public institutions and foster mutual cooperation within the Seo-gu Medical R&D Knowledge Industry Center. [Busan Economic Promotion Agency]

The Busan Economic Promotion Agency has teamed up with the Seo-gu District Office and the National Institute for Mathematical Sciences, aiming to establish Busan as a hub medical special zone by 2029.

The agency announced Friday that the three organizations signed an MOU titled "Clustering of Public Institutions and Mutual Cooperation within the Medical R&D Knowledge Industry Center" at the Seo-gu District Office conference room on Wednesday.

The agreement was pursued to support the successful development of Busan's Seo-gu Medical R&D Knowledge Industry Center, slated for completion in 2029, and to concentrate supporting institutions at the site. The three organizations plan to leverage Seo-gu's rich medical infrastructure — including university hospitals — alongside the "Global Hi-Medi Hub Special Zone" designation to strengthen the competitiveness of the region's medical and healthcare industry.

Timed to the center's 2029 opening, the three organizations agreed to attract high-quality companies to the Seo-gu Medical R&D Knowledge Industry Center as a base and to build a full-cycle technology support program in stages.

The Busan Economic Promotion Agency's Medical ICT Convergence Center will be responsible for attracting companies and will establish a support framework covering technology development, licensing, commercialization and global expansion for tenant firms upon the center's opening.

The National Institute for Mathematical Sciences will provide advanced technology consulting to tenant companies — including mathematical modeling, big data analysis, and deep learning and AI applications — while the Seo-gu District Office will oversee construction and overall operation of the knowledge industry center, targeting completion in 2029.

Before the center opens, the three organizations plan to form and operate a working-level consultative body to draw up annual cooperation plans and to expand preparatory work, including identifying joint national funding projects and sharing information and infrastructure.

Oh Ji-hwan, deputy director of the Busan Economic Promotion Agency, said the agreement "carries great significance in that it proactively builds an innovation ecosystem where local medical and healthcare companies can receive one-stop support — from R&D and licensing to AI technology application and overseas expansion — in step with the knowledge industry center's opening in 2029."


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