The Extraordinary Rise of Busan’s Tech Startup Ecosystems Continues

Behind those numbers is a deeper shift: Busan is becoming a place where new technology companies can be built around the industries that already define the region.

For decades, many ambitious young people and fast-growing companies felt they had to leave Busan to scale. Now, they are staying to be part of Busan’s thriving community. Roughly twenty Busan-based startups are currently preparing for public listings – and they are not relocating first.

Among them is Caredoc, a Busan-founded company with more than ₩300 billion, or approximately $214 million, in cumulative transactions. Backed by Invesco, the company is now preparing for a 2027 IPO. Stories like this show that high-growth companies can be built from Busan, not just born there and moved elsewhere.

Why Busan? Start with the shipyards

Busan is not trying to become another software-only startup hub. Its advantage is different – and potentially more durable.

The surrounding Busan–Ulsan–Gyeongnam industrial region is home to some of the world’s most important shipbuilding, automotive, defense, logistics, and manufacturing assets. Samsung Heavy Industries, HD Hyundai, Hanwha Ocean, Hyundai and Kia automotive plants, Renault Korea, Hanwha defense systems, and, more recently, an Airbus aerospace R&D office, all sit within the broader industrial orbit of the region.

Many startups spend years trying to reach large industrial customers. In Busan, those customers are already part of the region’s economic fabric – from shipyards and ports to factories, logistics networks, energy systems, and global supply chains. 

For Deep Tech founders, that proximity is a real advantage.

What founders are actually building

In Advanced Manufacturing, Busan’s industrial roots are becoming a launchpad for startups working at the intersection of AI, robotics, and automation.

Korea’s shipbuilding industry faces a major labor challenge. Its workforce shrank significantly over the past decade, while demand for skilled labor remains high. This creates urgent demand for automation, inspection technology, robotics, and AI-enabled productivity tools.

AIPL, founded in 2023 by former Samsung Heavy Industries executives, is one example. The company built an AI-powered welding inspection system for LNG carriers and is now deploying its technology inside active Korean shipyards.

In Maritime Technology and Decarbonization, Busan’s role as a port city is becoming central to its startup opportunity.

Busan New Port is one of the world’s busiest container ports, and the surrounding industrial belt is under growing pressure to decarbonize – from the ships it builds to the fuel they use, the ports they pass through, and the logistics systems that move goods around the world.

This creates new demand for clean shipping, port automation, marine robotics, alternative fuels, emissions monitoring, and maritime data platforms.

KOAI, for example, builds autonomous robots for marine cleanup and pollution monitoring. The company has conducted live deployments in Busan and pursued proof-of-concept projects with major international partners, including Abu Dhabi’s national oil company, the Singapore Maritime Port Authority, and Dubai’s water authority.

Marine Works is another example of the maritime autonomy wave emerging from the region. Recognized by Korea’s national M.AX Alliance for its autonomous vessel data and remote-control platform, the company reflects how Busan’s maritime identity is evolving into a technology opportunity.

In Logistics Software and Enterprise Tech, Busan’s infrastructure creates another layer of opportunity.

Running one of the world’s busiest ports requires constant coordination across shipping, warehousing, freight, customs, manufacturing, and global supply chains. That complexity creates real-world demand for supply chain intelligence, logistics automation, freight optimization, and AI-powered operating systems.

Locus Korea, an AI-powered logistics operating system, is one company building from this opportunity. The company has compounded at 158% annually and is targeting a public listing by 2029 – from Busan.

Why this matters

The rise of Busan’s startup ecosystem is not only a story for founders, investors, or policymakers. It is also a story about the city’s future.

A stronger tech startup ecosystem will help Busan retain young talent, create higher-value jobs, modernize local industries, and give engineers, researchers, and entrepreneurs more reasons to build their careers in the region.

Rather than following a generic startup playbook, Busan is building from what already makes the city globally relevant: maritime strength, manufacturing depth, logistics infrastructure, energy transition opportunities, and a global port identity.

The timing matters. Global supply chains are reorganizing. Industrial companies are under pressure to automate. Climate demands are reshaping maritime and energy systems. AI is moving from screens into factories, ports, ships, and infrastructure.

Busan sits at the center of these shifts. The city has the industrial customers, the port, the manufacturing base, and the universities. Increasingly, it also has proof that companies can scale from Busan rather than leaving it behind.

For global investors, Busan may still feel early. But that may be exactly the point. The most interesting ecosystem stories often become obvious only after the momentum is already underway.

Busan’s rise is just entering its second phase of accelerated growth.

In their own words

“Busan is at a pivotal moment in its journey to become a global technology and startup hub beyond Korea. The rapid growth of its startup Ecosystem Value, investment activity, and global recognition reflects the rising global competitiveness of Busan’s industrial strengths and innovation capabilities. Building on its unique strengths in Shipbuilding, Maritime Industries, Logistics, AI, and Advanced Manufacturing, Busan aims to become Asia’s leading hub for technology startups by attracting global companies, investors, and innovative talent, while emerging as a new center of the global startup ecosystem.” — Jonggun Seo, CEO, Busan Startup Investment Agency (BSIA)