Creation of S Valley Venture Startup Hub Space in the Area of 272 Nakseongdae-dong, Gwanak-gu

Strengthening Urban Competitiveness by Providing Startup Spaces Aligned with Increasing Startup Demand in Gwanak-gu

Project Site

Gwanak-gu (Mayor Park Jun-hee)'s 'Gwanak S-Valley Venture Startup Hub Creation Project' has achieved the great success of being selected as a rapid promotion project for balanced development in the southwestern region of Seoul.

In January this year, Seoul City requested the discovery of new projects such as regional development plans targeting seven autonomous districts located in the southwestern region to strengthen competitiveness and achieve development tailored to the characteristics of the southwestern area.

The district proposed the Gwanak S-Valley Venture Startup Hub Creation Project to develop the area around 272 Nakseongdae-dong, where the former English Village was located, into an industry-academia-research cluster where Seoul National University and companies jointly research and develop advanced technologies. After discussions with relevant Seoul City departments, advisory meetings, and review by the Balanced Development Committee, it was finally selected as a rapid promotion project on August 21.

The area around 272 Nakseongdae-dong is approximately 73,000㎡, adjacent to Seoul National University, and there have been continuous opinions that development is necessary due to its high potential as a hub for industry-academia cooperation.

Accordingly, following the designation of the venture business promotion district last year as part of the 8th elected term's 'Gwanak S-Valley 2.0' full-scale promotion, the district planned this project to create a Gwanak S-Valley hub space in the 272 Nakseongdae area and build a more advanced venture startup ecosystem.

Gwanak S-Valley is a project to create a startup hub where universities, companies, and the local community coexist, including Nakseong Venture Valley, Sillim Startup Valley, and Seoul National University.

The district plans to actively cooperate with Seoul City and start a basic planning service in 2024 that includes establishing an advanced technology research complex led by artificial intelligence (AI), creating anchor facilities to strengthen industry-academia cooperation in advanced industrial fields, and support facilities for venture investment institutions, aiming to rapidly establish a balanced development strategy for the southwestern region.

As the Gwanak S-Valley project gains momentum, demand for startups is continuously increasing. The selection of resident companies for the Nakseong Venture Startup Center, the anchor facility of Gwanak S-Valley, recorded a high competition rate of 22 to 1 last year, and the number of venture companies located in Gwanak-gu has steadily increased from 132 in 2020 to 174 as of June this year.

The district expects that this project selection will gradually meet the increasing startup demand within the region.

Park Jun-hee, Mayor of Gwanak-gu, said, “I am very pleased that the 'Gwanak S-Valley Venture Startup Hub Creation Project,' a key project of Gwanak-gu, has been selected as a rapid promotion project by Seoul City. We will do our best to establish a new economic belt connecting Guro G-Valley, Gwanak S-Valley, and Gangnam's Teheran Valley to create quality jobs and enhance urban competitiveness.”

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