Busan creates 551 billion‑won Future Industry Transition Fund

Busan city announced the formation of a master fund worth 551 billion won to support the transition of local companies into future industries. The fund combines a 500 billion‑won contribution from the five major domestic banks’ mid‑size‑enterprise fund, 41 billion won from the municipal government and 10 billion won from the Korea Development Bank.

Private capital will be matched to raise more than 2.5 trillion won for subsidiary funds that will target firms working on green technologies, artificial‑intelligence‑driven conversion (AX) and digital transformation (DX). The programme also expands eligibility to companies with strong R&D capabilities, covering businesses in Busan, Ulsan and South‑Gyeongsang Province. A fund manager will be selected between July and August, with operations beginning in September under Korea Growth Finance Investment’s oversight. The city expects the initiative to create high‑value jobs, retain young talent and strengthen the regional industrial base.