Gwanak-gu Partners with Seoul Creative Economy Innovation Center to Become an Innovative Startup Hub 'Gwanak S-Valley'

Gwanak-gu and Seoul Creative Economy Innovation Center Sign MOU for Successful Promotion of Gwanak S-Valley
Establishing a Foundation for Gwanak S-Valley to Become a Leading Hub for Ventures and Startups

Gwanak-gu (Mayor Park Jun-hee) is growing into a mecca of venture startups by promoting Gwanak S-Valley as a key project during the 7th and 8th terms of the local government to establish an innovative startup ecosystem and foster the growth of youth entrepreneurship and technology-based startups.

Accordingly, on the 23rd, the district signed a mutual cooperation memorandum of understanding (MOU) with the Seoul Creative Economy Innovation Center (Director Lee Young-geun) to successfully promote the Gwanak S-Valley development project.

This MOU aims to maximize the outcomes of the Gwanak S-Valley development project and strengthen a strategic partnership to develop Gwanak-gu into a hub of innovative startups by utilizing the expertise and network of the Seoul Creative Economy Innovation Center.

The Seoul Creative Economy Innovation Center is a specialized institution that discovers and nurtures startups in the early stages of entrepreneurship and supports the entire process from technology development to market entry.

Contributing to the activation of Seoul’s startup ecosystem, the center especially helps the growth of innovative startups and operates various programs for open innovation with large corporations and global expansion of venture companies.

According to the agreement, both organizations will jointly operate various programs to discover promising startups in ‘Gwanak S-Valley’ and support their growth. They also plan to contribute to revitalizing the startup ecosystem by maximizing the use of each other’s networks and resources and provide multifaceted support for practical market entry.

The Gwanak S-Valley development project has already achieved several results. Since 2018, it has attracted over 500 startups, greatly revitalizing the local startup ecosystem, providing a stable startup environment for young entrepreneurs, and creating many jobs.

Additionally, through cooperation with Seoul National University, it has actively supported research and development in advanced technology fields such as AI, biotech, and fintech. Some startups have successfully entered overseas markets and secured international competitiveness through global partnerships.

The district expects the ‘Gwanak S-Valley’ development project to gain further momentum through this agreement.

Lee Young-geun, Director of the Seoul Creative Economy Innovation Center, said, "Cooperation with Gwanak-gu will be an important opportunity to strengthen the region-based startup ecosystem and help Gwanak S-Valley grow as Seoul’s startup hub. We will actively support the successful establishment of Gwanak S-Valley by fully utilizing the center’s expertise and network."

Park Jun-hee, Mayor of Gwanak-gu, said, "This MOU will be an important stepping stone to take the Gwanak S-Valley development project to the next level. Through close cooperation with the Seoul Creative Economy Innovation Center, we will do our best to establish Gwanak-gu as the center of the most innovative startup ecosystem in Seoul."

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