Pangyo Startup Planet to Be Developed as a Space for 'Work, Living, and Leisure'

Kim Se-yong, CEO of GH, is explaining the development direction of Pangyo Startup Planet.

Gyeonggi Housing and Urban Corporation (GH) is transforming 'Pangyo Startup Planet,' an innovative space for startups, into a place where work (職), residence (住), and leisure (樂) are all possible.

Pangyo Startup Planet is the largest public knowledge industry center dedicated to startups in Korea, being constructed on a 60,000㎡ site within the 3rd Pangyo Techno Valley (total 580,000㎡) with a total floor area of approximately 470,000㎡ (about 145,000 pyeong).

On the 18th, GH held a briefing session at its headquarters in Gwonseon-gu, Suwon City, discussing the overall project services including ▲space strategy for integrated land use and development ▲detailed project implementation plans and operational management methods ▲plans for attracting anchor companies and fostering open innovation ▲formulation of smart city and building introduction plans ▲project feasibility analysis ▲marketing and promotion.

An anchor company refers to a company that plays a leading role in a specific industry or region. Open innovation is a concept proposed by Professor Henry Chesbrough of UC Berkeley in 2003, where companies procure technologies and ideas externally while sharing internal resources with outsiders to create new products or services.

Participants particularly noted that in Pangyo 1 Techno Valley, the residential space ratio is only 2% and leisure space is 2% out of the total facility area (about 1.6 million ㎡), and in Pangyo 2 Valley (about 1 million ㎡), the residential space ratio is only 3%, resulting in serious issues such as separation of work and residence and weekend depopulation. To address this, Pangyo Startup Planet proposed creating public dormitories, underground shuttle lounges, and startup communities through functional connections.

They also called for the creation of an innovative startup ecosystem where venture companies and startups can coexist and generate synergy by providing spaces for accelerators (AC), venture capital (VC), startup incubation spaces, and shared research facilities.

An accelerator is an institution responsible for early-stage funding and mentoring for startups.

Additionally, discussions included introducing a testbed to monitor prototypes developed in corporate research spaces in simulated environments and to implement them in real-life settings.

Kim Se-yong, CEO of GH, emphasized, "It is important to create spaces where people can actually stay and enjoy themselves," adding, "It is necessary for GH to participate directly or diversify business models through venture capital (VC) and others."

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