Seoul City Announces Private Operator Bidding for Magok R&D Center... Space for Small and Venture Companies Provided

Magok R&D Center Sequential Supply

[Asia Economy Reporter Lim Cheol-young] The Seoul Metropolitan Government and Seoul Housing and Communities Corporation announced on the 29th that they will hold a "Magok R&D Center Private Business Operator Contest" to provide research spaces for small and medium-sized, venture, and startup companies with technological capabilities but financial difficulties.

The target site for this contest is Block D18-B in the Magok Industrial Complex, covering an area of 11,679㎡. The Magok R&D Center will be sequentially constructed by additionally supplying Block D18-B following the public-type D15 block and the D38 and D18-A blocks, which were offered last year through private business operator contests.

Eligibility for participation in the contest requires applicants to be registered as real estate developers as of the application submission date and to engage in real estate leasing or real estate supply businesses permitted under the management basic plan, excluding other industries.

This private business operator contest for Block D18-B in the Magok Industrial Complex is supplied at cost according to the Act on Industrial Sites and Development, reducing the financial burden on business operators and ensuring public interest for the actual users, namely small and medium-sized, venture, and startup companies.

Seo Byung-chul, Director of the Seoul Metropolitan Government's Southwest Area Project Division, said, "This contest is for a site adjacent to the D18-A block, which was contested last year, and by securing public interest for the actual users?small and medium-sized, venture, and startup companies?we hope to establish a Magok convergence R&D industrial ecosystem through corporate coexistence." He added, "We look forward to active participation from private business operators so that the Magok R&D Center can become an important source of technological innovation."

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