SEOUL, SOUTH KOREA, December 28, 2021 – The Seoul Metropolitan Government (SMG) unveiled the Revitalization Plan for AI Yangjae Hub to turn the area into a global innovation hub for the AI industry.
AI Yangjae Hub is dedicated to supporting AI startups and creating an AI hub in Yangjae-dong. Established in 2017, it was the first of its kind in Korea. From 2018 to 2021, 137 companies joined the hub. Even amid the pandemic, startup companies in the hub created 685 jobs, recorded KRW 173.5 billion of sales, and attracted KRW 143.9 billion of investment.
First, Seoul will expedite the designation of Yangjae as a Special Economic Zone for Specialized Regional Development and a Specific Development Promotion District to build the foundation for AI hub. Second, Yangjae AI·R&D Campus and AI Support Center will be created to serve as key organizations of AI Yangjae Hub. The goal is to shape Yangjae into a Global AI Hub. The SMG plans to achieve this goal by creating an AI industry ecosystem where AI graduate schools, research institutes, and businesses can work together.
In particular, the Yangjae AI·R&D Campus is an ecological hub for Korean and international AI businesses, AI schools, and labs. It will be composed of ▴Infrastructure for business support, ▴Facilities for research and learning, and ▴Residential areas.
Business Support Infra: Offices for 540 businesses, including AI software and hardware companies, spaces for startup and incubating, data center, technology testbeds will be installed.
Research and Learning Facilities: Seoul will attract inter-university research centers, government-funded research institutes, and private labs by creating an AI research complex on the campus. Learning spaces and exhibition halls where citizens can experience AI technologies will also be there.
Residential Areas: To create the best research environment for employees of AI companies in the hub, around 300 on-campus housing will be provided.
The AI Support Center, an institute for KAIST AI Graduate School and startup incubation, will focus on two things: ▴Talent nurturing and ▴Supporting AI Startups. The SMG plans to nurture approximately 500 AI experts annually and support over 200 AI startups.
“So far, we have prepared a blueprint for creating the AI hub. For the next five years, we will build key anchor facilities of the AI industry and create a competitive ecosystem for cooperation among the industry, academia, and research institutes,” said Hwang Bo-Yeon, Deputy Mayor for Economic Policy. “Seoul is determined to shape a Seoul-type AI Ecosystem that can excel in the global market. To achieve that goal, we will help Yangjae become a pivot of Korean AI industry and global AI hub by nurturing AI experts, attracting competitive research centers, and supporting business growth.”