[Photo] Gwanak-gu, Seoul National University, and Woori Financial Holdings Join Forces to Support Venture and Startup Ecosystem Revitalization

Joining Forces to Build 'Gwanak S Valley' for Venture Startup City and Regional Economic Development... Accelerating Venture and Startup Ecosystem Activation through Organic Work Cooperation System Establishment

Park Junhee, District Mayor (center), Oh Sejeong, University President (left), Son Taeseung, Chairman (right), participating in the business agreement ceremony for revitalizing the venture and startup ecosystem.

[Asia Economy Reporter Jong-il Park] Gwanak-gu (Mayor Park Jun-hee) signed a "Business Agreement for the Activation of the Venture and Startup Ecosystem" on the 28th at 3 p.m. with Seoul National University (President Oh Se-jung) and Woori Financial Group (Chairman Sohn Tae-seung) in the 5th-floor Planning Situation Room of the district office.

Through this agreement, the district plans to establish a mutual cooperation system with Seoul National University and Woori Financial Group over the next three years to activate the local venture and startup ecosystem, laying the foundation for growth as a venture startup city, and further pledging to unite efforts for regional economic development.

The main contents of the agreement include ▲ mutual cooperation and investment linkage during the operation of programs to discover and nurture excellent venture and startup companies ▲ recognition and technical support as well as provision of office space to expand venture and startup infrastructure ▲ activation of the local economy through attracting, growing, and settling outstanding venture and startup companies in the region.

The district expects to accelerate the activation of the venture and startup ecosystem by building an organic business agreement system that utilizes excellent human and material resources from universities and companies, and also contribute to mutual growth through cooperation with local universities.

Currently, Woori Financial Group is promoting the creation of startup spaces around the University area, aiming to open in September, to invigorate the local economy by attracting outstanding venture and startup companies.

Meanwhile, based on the district's excellent human resources, Gwanak-gu is actively promoting the "Gwanak S Valley" project to revitalize the local economy by establishing "Nakseong Startup Valley" and "Sillim Startup Valley" as two axes, developing the entire Gwanak-gu area into a venture startup city.

As a result of efforts to transform Gwanak-gu, once a barren land for startups, into a venture startup mecca, nine startup infrastructures including Nakseong Venture Startup Center and Startup HERE-RO 3 have been completed in two years and nine months. Two startup spaces are scheduled to open in early July through connections with private companies such as KT and KB.

Going forward, the district will continue to actively work to minimize the difficulties faced by startup companies with excellent capabilities in securing startup spaces by steadily expanding startup infrastructure.

In addition, various startup support programs such as startup scale-up projects, mentoring, consulting, practical startup lectures, and prototype production support programs are being operated to strengthen and grow the capabilities of companies. Demo days have also been held to activate investment in local companies.

In particular, the district is making every effort to build a venture startup city by creating a 20 billion KRW startup support fund?the first of its kind among basic local governments nationwide?to continuously drive the growth of venture and startup companies based on original technology.

Mayor Park Jun-hee said, "By signing an agreement with Seoul National University, a treasure trove of excellent talent, and Woori Financial Group, which is advancing as a global top financial group, we have gained a strong ally for the Gwanak S Valley project, which will greatly accelerate the project’s progress. We will spare no support in space, technology, and investment to help Gwanak-gu become Korea’s Silicon Valley as a venture startup city leading technology startups."

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