Gwanak S-Valley Selected as Target Area for Specific Development Promotion District...Rapidly Emerging as a Startup Innovation Hub

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Gwanak-gu (Mayor Park Jun-hee) has achieved a great success with approximately 2.44 million square meters around the Gwanak S-Valley area being selected as the target site for the ‘Gwanak S-Valley R&D Venture and Startup Specific Development Promotion District.’

The Gwanak S-Valley project, which has been promoted since 2018, is completely transforming the map of Gwanak-gu.

So far, Gwanak S-Valley has established 17 startup infrastructure facilities, with 138 startup companies residing and growing their capabilities in various fields.

By creating an innovative economic ecosystem leading venture startups centered on two pillars?the ‘Nakseong Venture Valley’ around Nakseongdae and the ‘Sillim Startup Valley’ centered in Daehak-dong?this change has led to the achievement of being designated as a ‘Venture Business Promotion District’ by the Ministry of SMEs and Startups in 2022.

In particular, the recent selection of the ‘Gwanak S-Valley R&D Venture and Startup Specific Development Promotion District’ target site is expected to be an important turning point for Gwanak-gu to firmly establish itself as a hub for youth startups and technological innovation.

Since 2023, the district office has actively consulted with Seoul City to designate Gwanak S-Valley as a specific development promotion district, submitted the application for target site selection last July, and finalized the selection by passing Seoul City’s review on October 7.

The designation of a specific development promotion district goes beyond simple industrial promotion, laying the foundation for continuous growth and innovation through the agglomeration of technology-based startup companies in research and development (R&D), information and communication technology (ICT), and other fields.

Once the ‘Gwanak S-Valley R&D Venture and Startup Specific Development Promotion District’ is finally designated, various urban planning benefits such as differential relaxation of building coverage ratio, floor area ratio, and building height will be provided according to the recommended industry introduction ratio.

Going forward, the district office plans to establish a detailed promotion plan and proceed step-by-step through continuous consultations with Seoul City aiming for final designation.

With this target site selection as an opportunity, Gwanak-gu is expected to take a step further as a leading city in South Korea’s startup ecosystem as a high-tech industrial cluster, leading youth startups and technological innovation.

Mayor Park Jun-hee said, “The selection of the Gwanak S-Valley specific development promotion district target site holds a meaning beyond a simple district designation. Gwanak S-Valley is now reborn as a startup city where young people dreaming of entrepreneurship and companies pursuing technological innovation gather,” and added, “We will continue to provide various opportunities for innovative companies to grow and do our best to establish Gwanak-gu as a core hub of South Korea’s startup ecosystem.”

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