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Investment Projects
The Digital Media City (DMC) is a high-tech digital media and entertainment (M&E) cluster currently under construction by Seoul City on a 569,925㎡ site in the Sangam district, the northwestern gateway of Seoul, and is scheduled for completion in 2015.
Currently, more than 250 companies with over 20,000 employees are operating in the DMC, and it is expected that the figure will grow to more than 600 companies with some 60,000 workers by 2014.
| Location | Sangam Millennium New City housing site development district, Mapo-gu, Seoul |
|---|---|
| Land Area | 569,925 m² (project land: 335,134m² / public land: 234,791m²) |
| Duration of Project | 2002~2014 |
| Developer | Seoul City |
| Industries to be attracted |
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- Easy access to the Northeast Asian market
It takes only 30 minutes by highway or high-speed railroad to get from the DMC to Incheon International Airport, the hub of East Asia, from which it is possible to reach the while of the Northeast Asian market, with its population of 1.7 billion people, within two hours.
- Huge metropolitan market
The DMC offers easy access to a huge metropolitan market with 24 million inhabitants.
- High-tech IT infrastructure
People living in the DMC complex, which is equipped with the world’s best super-high-speed communication network and IT infrastructure, can use the free wireless Internet service anytime, anywhere.
Points will be added at the time of evaluating the business plans of foreign investment companies that intend to move into the supplied land in the DMC.
Provision of rented offices :
Foreign companies may move into offices for rent and venture-related facilities provided by Seoul City at cheap prices on a preferential basis.
Provision of rental housing :
Seoul Metropolitan Government will provide a convenient living environment for foreigners by supplying houses for rent exclusive to foreigners.
Benefits under laws related to foreigners’ investment :
Foreigners who invest in an area designated for foreign investment, service industries for industrial assistance or high-tech industries may receive such benefits as the exemption from national and local taxes, financial support, exemption from levies on the basis of the Foreign Investment Promotion Act and the related ordinance of Seoul Metropolitan Government.
Long-term lease of land and buildings :
Foreign-invested companies may lease land and buildings at cheap prices for up to thirty years.
| Type of Business | Companies |
|---|---|
| Game | Yolim Communication, Korean Game Developers Association, Korea Game Society, NEOWIZ Corp., Tongyang Online, Gravity, Ymir Entertainment, Game Incubating Center, Zio Interactive |
| Broadcasting | CJ Media, Cudo Communication, Sun TV, Gugak FM Broadcasting, CJE tvN, KBS Media, KBS i |
| Images | Danek, VTC Korea Inc. |
| Movies | MnFC, Korean Film Council, Visual Story Factory, Chungeoram |
| Internet | Korea.com Communications |
| Telecommunication | Pantech Co., Ltd., LG Telecom, Xeline |
| IT | Korea Honeywell Co., Ltd., Woori Technology, LG CNS, Korea Electronics Technology Institute, Mutex, H.I.L., Lightworks Technology Inc. |
| BT | Bioneer, EyeGene, Hwan Kyeong Bio, Advanced Bio Technology |
| HW | Fuji Xerox Asia Pacific PTE LTD, SRC., Jooyon Tech |
| SW | Hyundai Card, Daesung Holdings, Nowfeel, COREGATE, Esum Technologies, HK-ecar, Site-on |
