Seeking to Foster the Silver Economy in a Super-Aged Society... Busan Selected for 'AgeTech' Demonstration Hub

KRW 27 Billion to Be Invested in AI-Based Initiatives by 2030

The city of Busan is launching an "AgeTech" project to foster the silver economy industry in response to a super-aged society.

On the 27th, the city announced that it has been finally selected for the "Marine Culture City-Based AgeTech Demonstration Hub Establishment Project" organized by the Ministry of Science and ICT.

This project aims to invest a total of KRW 27 billion over five years until 2030 to nurture the artificial intelligence (AI)-based silver economy industry and establish an industrial ecosystem linking demonstration and commercialization, centered on Busan.

With the vision of becoming a "Global Silver Economy Leading City Based on AI," the city will pursue strategies including: ▲ Expanding AI services ▲ Building a demonstration-based infrastructure ▲ Supporting corporate growth ▲ Global expansion. The plan includes identifying more than 130 AI AgeTech projects and supporting the overseas expansion of 45 companies.

Additionally, by utilizing five major anchor labs and senior mixed-use complexes, the city will create demonstration environments and expects to generate more than 175 new jobs in related industries.

Mayor Park Hyung-joon stated, "We will build a structure in which technologies proven in Busan can spread to the global market."

Busan-type AGES Strategy Concept.

This content was produced with the assistance of AI translation services.