Gwangju City Launches 'Gwangju Station Startup Valley,' the Largest in Honam Region

Idle Land Purchase Completed... Entire Project Site Secured

The 'Gwangju Station Startup Valley,' the largest in the Honam region, is getting underway.

Gwangju Metropolitan City (Mayor Kang Gi-jung) announced on the 4th that following the Ministry of Land, Infrastructure and Transport's land purchase in April, it recently (November 24) completed the acquisition of the idle land behind Gwangju Station.

As a result, the city has secured the entire site for the startup valley development project, which is being promoted as part of the Gwangju Station urban regeneration project.

It has been about two years since the project faced difficulties in land acquisition due to changes in project conditions, such as the inclusion of the Dalbit Inland Railway passing through Gwangju Station in the 2021 National Railroad Network Construction Plan.

In October last year, Gwangju City, with the help of alternative project plans and cooperation from local political circles, obtained consent for land sales from various landowners including the Ministry of Land, Infrastructure and Transport and Korea Railroad Corporation (KORAIL). After going through administrative procedures such as appraisal, land use cancellation, and coordination with the general agency, the Ministry of Land's land was purchased in April, and the KORAIL land acquisition was completed after a year of practical consultations.

The Gwangju Station Startup Valley development project started as an urban regeneration initiative aimed at revitalizing the declining downtown by establishing startup support infrastructure with high economic ripple effects on the idle land of Gwangju Station and improving social and economic infrastructure.

Public investment costs amount to approximately 440 billion KRW, and by 2027, startup support infrastructure such as the Eoullim Factory, Bitgoeul Startup Station, Complex Hub Center, Corporate Innovation Growth Center, Social Economy Innovation Town, and Job-Linked Housing will be built in phases. Through organic connections between facilities, the entire startup process will be supported in a one-stop manner.

The newly acquired site will house four facilities: the Complex Hub Center and Corporate Innovation Growth Center as startup support facilities, the Social Economy Innovation Town supporting social enterprises, and Job-Linked Housing providing residential support for entrepreneurs.

Among these, the Complex Hub Center has completed its design and is expected to begin construction as early as this year. The Corporate Innovation Growth Center, Social Economy Innovation Town, and Job-Linked Housing plan to complete design and start construction by 2024, with related procedures being expedited.

Additionally, the Bitgoeul Startup Station, which has been under construction since 2020 using the front parking lot of Gwangju Station, is about 70% complete as of the end of 2023. It is scheduled for completion in the first half of 2024 and will welcome early-stage entrepreneurs from the second half of the year. Opposite Bitgoeul Startup Station, the Eoullim Factory, remodeled from an old building, currently houses six startup companies laying the foundation to grow into future unicorn companies.

Kim Jun-young, Head of the New Vitality Promotion Headquarters, said, “With the acquisition of the KORAIL site, the Gwangju Station Startup Valley development project is expected to accelerate further. Along with establishing the largest startup valley in Honam, we will diligently promote urban regeneration projects for nearby residents to breathe new life into Gwangju Station.”

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