The city of Busan and the Busan IT Industry Promotion Agency (hereinafter the Agency) are set to host the 'Korea-Serbia Business Exchange and Market Expansion Delegation' from September 8 to 11.

In June 2024, the Agency laid the groundwork for international cooperation in the gaming and content sectors by signing a Memorandum of Understanding (MOU) with 'Serbia Creates,' the government body overseeing creative industries in Serbia.

Following this, an official from Serbia Creates visited Korea in August to attend the Busan Indie Connect Festival (BIC), and representatives from the Agency toured the construction site of the 'Ložionica,' a creative industrial complex in Serbia, this past November.

This upcoming exchange and delegation marks the first official event co-hosted by both organizations. Ten Busan-based game and IT companies are joining the initiative, aiming to establish Serbia as a strategic gateway for their expansion into Eastern Europe and to forge tangible connections within the local market.

The business exchange is scheduled for September 9-10. It kicks off with opening remarks from Kim Hyung-tae, the Ambassador of the Republic of Korea to Serbia, followed by sessions showcasing the current trends and landscapes of both nations' gaming and IT industries. Furthermore, the Agency will facilitate B2B matching sessions to help Busan firms network with local experts and investors, fostering potential global partnerships.

In addition to these sessions, the delegation will visit key Serbian gaming and IT companies to study their operational models, technical capabilities, and success stories, all while exploring new avenues for collaboration.

Kim Tae-yeol, the head of the Busan IT Industry Promotion Agency, noted, "This exchange is a strategic exploration of a new market in Eastern Europe and serves as a starting point for Busan companies to secure global partnerships." The head of the Busan IT Industry Promotion Agency further stated, "We are committed to providing full support to ensure this cooperation extends beyond a single event, evolving into long-term joint projects and sustained interaction."

Serbia is increasingly gaining traction as a hub for creative industries and IT technology in Europe. The nation boasts a vibrant ecosystem centered on mobile and indie development, while simultaneously attracting significant investment from global studios. Thanks to a pool of talented developers, relatively lower production costs, and its proximity to the EU, it is rapidly emerging as one of the fastest-growing game and digital content markets in Eastern Europe.