Seoul City announced on March 30 that the NF Consortium, which comprises six companies including the Chosun Ilbo and Hankyung (WOW) TV, had informed the city of imminent groundbreaking to construct a new media complex on March 23, with YTN doing likewise on March 30.
NF Consortium and YTN are now set to launch the construction work, with completion of the new buildings scheduled for March 2014.
NF Consortium will construct the “Digital Cube,” consisting of 23 stories and seven underground levels, for a total floor space of 69,789.65㎡, at the DMC E2-3 section. The building will house the Chosun Ilbo, Hankyung (WOW) TV, The Korea Economic Daily, Mega Study, and the Digital Chosun Ilbo among others.
Thus far, more than twenty media companies have decided to move into Sangam DMC, including MBC, SBS, and the Joongang Ilbo. With the relocation of the MBC headquarters building scheduled for 2013 as the momentum, Sangam DMC is set to make the leap to becoming a top media cluster.
Digital Media City (DMC) is a flagship project of Seoul City, which calls for development of the Sangam-dong area in Mapo-gu into an international business hub in the digital media field.
Currently, more than 300 companies with over 22,200 employees engaged in the digital media business are operating at Sangam DMC, as the area is emerging as a new economic hub of Seoul.