Full-Scale Development of Jungnang Startup Support Center as a Startup Complex Facility

Jungnang Startup Support Center Construction Site (Sinnae-dong 195-1) Selected for 2020 Ministry of Land, Infrastructure and Transport Job-Linked Support Housing Project... Transformed into a Startup Complex Facility Combining Startup Platform, Venture Office, and More

Bird's-eye view of Jungnang Startup Support Center

[Asia Economy Reporter Jongil Park] Jungnang-gu (Mayor Ryu Kyung-gi) has had the planned site for the Jungnang Startup Support Center (195-1, Sinnae-dong) finally selected as a candidate site for the Ministry of Land, Infrastructure and Transport’s ‘2020 Job-Linked Support Housing Project.’

This contest was held to help young entrepreneurs, workers in regional strategic industries, and employees of small and medium-sized enterprises secure stable housing and settle into jobs. The district applied in the ‘Startup Support Housing category,’ which involves the complex development of the ‘Jungnang Startup Support Center’ and startup support housing, achieving a great success for the economic city of Jungnang.

With this project selection, the district will receive funding for the construction of 114 units of startup support housing, a customized startup facility that provides both residential and workspaces to young entrepreneurs and others struggling to secure housing and startup spaces.

Thus, the ‘Jungnang Startup Support Center,’ planned to be built in Sinnae-dong, will be transformed into a startup complex facility combining 114 units of startup support housing, a startup platform for supporting startups, and venture offices, with a total floor area of 18,115㎡, consisting of 3 basement levels and 11 above-ground floors.

Sinnae-dong, where the Jungnang Startup Support Center will be located, is the new economic hub of Jungnang-gu. The ‘Knowledge Industry Center 1’ was completed in May and companies have begun moving in actively. Additionally, the relocation of the SH headquarters is planned, raising expectations for this area as the economic center of the district.

Moreover, the nearby Yangwon District’s self-sufficient land has secured excellent startup infrastructure, with Modaichip, a mid-sized company specializing in electronic component manufacturing and fashion outlets, confirmed to move in. This selection in the contest is expected to play a pivotal role in revitalizing the local economy of Jungnang-gu.

The project will be jointly implemented by Jungnang-gu and SH Seoul Housing and Communities Corporation, with Jungnang-gu providing the site and covering the construction costs of the startup support center, while SH will handle project implementation and housing construction costs.

The district plans to begin construction of the ‘Jungnang Startup Support Center’ in 2022 and complete it by the first half of 2025, starting full-scale project promotion with the formation of a working-level council with SH Seoul Housing and Communities Corporation.

Ryu Kyung-gi, Mayor of Jungnang-gu, said, “Through this contest selection, the ‘Jungnang Startup Support Center’ will become a genuine startup hub in northeastern Seoul.” He added, “We hope to provide an optimized startup environment for nurturing startup companies, attracting many young and talented entrepreneurs to the region, greatly contributing to job creation and revitalization of the local economy.”

This content was produced with the assistance of AI translation services.