The Republic of Korea Institute of Ocean Science and Technology (KIOST) hosted a groundbreaking ceremony for the construction of its new research complex in Busan’s Dongsam-dong Innovation District at 11:00 a.m. on September 17, 2015. The ceremony was attended by notable public figures, including Oceans and Fisheries Minister Yoo Kijune and Busan Mayor Suh Byung-soo, and some 150 executives and staff of KIOST.

To be built with a total investment of KRW 100.4 billion, the research complex will be located on a plot measuring 159,634 square meters with a total building area of 43,536 square meters, and will be equipped with state-of-the-art facilities, including the Special Research Building, Ocean Environment Laboratory Building, Biological Laboratory Building, and Education and Training Building[KHTS1] . Located not only near the sea but in close proximity to one of the country’s major sources of social overhead capital, Busan Harbor, the research complex will enjoy optimal conditions for applying KIOST’s knowledge in science and technology to the oceans industry.

Aiming to complete construction by August 2017, KIOST plans to transfer its research facilities, including its cutting-edge science and technology equipment, to the new facility. By the end of 2017, some 800 of the finest oceans science and technology experts in Republic of Korea will move to the Innovation District, thereby completing the Institute’s move to Busan.

KIOST President Hong Gi-Hoon remarked, “The groundbreaking ceremony for our Busan-based research complex will be the starting point for KIOST to significantly expand its research capacity and develop into a world-leading research institute in oceans science and technology. Furthermore, the new complex will lead the effort to strengthen Republic of Korea’s global competitiveness these areas, as the country is about to become one of the world’s leaders in the oceans industries.”