Busan launches Waterloo-style co-op program linking students to local firms

The Busan Metropolitan Government and the Busan Economic Promotion Agency held a launch ceremony Thursday morning for the 2026 Busan Waterloo-style co-op program at the Heosimcheong Grand Hall of Hotel Nongshim. About 250 people attended, including representatives from participating universities and companies as well as students enrolled in the program.

The Busan Waterloo-style co-op program is an industry-academia curriculum designed to develop work-ready talent by combining classroom instruction with on-site training during the third and fourth years of university study. Modeled on the practical training approach of Canada's University of Waterloo and adapted to Busan's conditions, the program aims to strengthen ties between local companies and skilled graduates.

This year, working through anchor project teams at Busan-area universities, the program completed company matches for 90 students enrolled in regular-semester field training at eight local universities: Kyungsung University, Kosin University, Pukyong National University, Tongmyong University, Dongseo University, Dong-A University, Silla University and Youngsan University. Additional recruitment is planned for the winter semester.

Sixty-one companies are taking part, centered on Busan's strategic and emerging industries — digital tech, energy tech, biotech health and future mobility. Participants include mid-sized firms, small and medium-sized enterprises and startups, among them Binex, Donghwa Entec, Hyosung Electric and Wilo Pump.

The program launched in 2023 with two universities, 50 companies and 68 students, and has since expanded to eight universities, 61 companies and 90 students this year. The number of participants who went on to secure employment has consistently grown — five in 2023, seven in 2024 and 13 in 2025. Last year, 25 percent of fourth-year program completers were hired by their placement companies.

"We will strengthen the link between field training and employment so that young people have more job opportunities and companies can secure the talent they need at the right time — realizing a practical industry-academia cooperation model," said Kim Gwi-ok, the city's director general for youth and industry-academia affairs.