Startup Hub 'SVC Seoul' Opens Near Hongdae... Han Seongsook Vows to Develop It into a Startup Base (Comprehensive)

Support for Accelerating, Global Expansion, Demo Day, and Investment Linkage
43 Startups Move In... Aiming to Develop Into a Global Startup Campus

A global startup hub, 'Startup Venture Campus Seoul (SVC Seoul)', which connects startups, investors, and corporations near Hongdae, has opened. The Ministry of SMEs and Startups will support open innovation between startups and large corporations, as well as help facilitate global expansion linked with SVC Silicon Valley.

A view of 'SVC Seoul' located near Hongdaeipgu Station in Seoul. Photo by Jinju Han

On the 20th, the Ministry of SMEs and Startups announced the official launch of Startup Venture Campus Seoul at its opening ceremony, signaling the full-scale start of global open innovation. After the opening of SVC in Silicon Valley this January, the Seoul branch has now opened its doors as well.

SVC Seoul is located at 136 Yanghwa-ro, Mapo-gu, and comprises two underground floors and twelve above-ground floors, with a total floor area of 13,275 square meters (4,016 pyeong). The first basement level serves as a lounge for exhibitions and events, the first to third floors are lounges for large-scale events, lectures, and meetups, the fourth to tenth floors are designated for tenant companies, and the eleventh to twelfth floors are operated as spaces for rest and events.

SVC Seoul was established as a startup base to connect promising startups with domestic and international companies, universities, and investors. It aims to serve as a growth platform for startups in the fields of artificial intelligence (AI), beauty·fashion, and content·culture.

Currently, 43 startups have moved into SVC Seoul, with 55% of them focused on AI. Investment linkage programs with overseas investment firms such as Antler and Shorooq Partners are also being operated. In addition, open innovation programs with major domestic and international corporations—including Microsoft, Hyundai Motor Company, Naver Cloud, and POSCO—are planned for the near future.

On the 20th, at the SVC Seoul opening ceremony held in Mapo-gu, Seoul, Minister Han Seongsuk delivered a welcome speech. Photo by Jinju Han

During her welcome speech, Minister Han Seongsook of the Ministry of SMEs and Startups said, "Innovation can no longer be accomplished by the efforts of a single company or even a single country alone. The extent to which entrepreneurs and investors, universities and global corporations, technology and culture are organically connected now determines a nation's competitiveness," adding, "The government will develop this site into Korea's representative global startup base."

Minister Han added, "A variety of programs will be operated here on a regular basis, including collaborative meetings between startups, investment linkage programs, global pitching, and networking events. SVC Silicon Valley, which opened in the United States, is currently supporting 1,120 startups expanding locally through local VC and big tech cooperation programs, as well as accelerating initiatives. SVC Seoul will strengthen the global expansion of our startups by connecting with SVC Silicon Valley."

Minister Han also stated, "The potential of Korean startups is limitless. Every time I meet with foreign government officials, I am frequently asked about Korea's startup policy and hear a strong desire to invest in our startups. The government will actively support SVC Seoul to become a vibrant innovation platform that connects people to people, company to company, and Korea to the world."

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