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  • Seongsu IT Industrial District Transforms into New Silicon Valley of Seoul

  • SMG 1881

    The Seoul Metropolitan Government is seeking to facilitate a fusion and convergence of general manufacturing industries and cutting-edge IT technologies within the Seongsu IT Industrial Complex in order to discover new areas of industry and pursue concurrent development of both the manufacturing and IT industries. The complex opened in May 2011.

    By combining the manufacturing sector and IT technology, the City Government aims to seek technological innovation and increase added values of the manufacturing sector, cultivating the Seongsu IT Industrial Complex into a hub for regional economic development.

    Notably, the City Government will construct an industry-academia-research institute network based at the Seongsu IT Industrial Complex to improve infrastructure for supporting business operations, and pursue convergence of the manufacturing sector including machinery, metal and printing industries with IT technologies. By so doing, it will seek to transform the area into a new Silicon Valley of Seoul.

    This year, the Seongsu IT Industrial Complex, as a business incubation center, has been focusing on providing assistance to companies that are housed at the Center. But the Center plans to further expand its business areas to the entire industrial district and conduct projects aimed at innovation (convergence) of the manufacturing and IT industries next year.

    In the future, the Seongsu IT Industrial Complex will form and operate a global business club jointly with professionals in respective fields, including companies, universities, research institutes, state organizations, Korean and foreign chambers of commerce and industry, related organizations, financial institutions (investment companies) and media firms. Thus it will construct a global cooperation network between members and be able to carry out activities to attract global investments.

    Also, work is underway for the establishment of a Knowledge Industry Center designed to meet demand of companies that seek to enter the district. As a result, four large knowledge-industry centers (apartment type factory buildings), including Human Teco, have been completed and seven more are under construction for slated completion next year.

    The Seoul Metropolitan Government selected 12 districts through last year and is cultivating specialty industries tailored for Seoul. The City Government plans to designate an additional eight such districts by the year’s end.