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Business Environments

Industrial Clusters

  • DMC : State-of-the-art digital media entertainment (M&E)
  • R&D complex : Future-oriented advanced technology (IT·BT·NT·GT)
  • G-Valley : High value-added high-tech industry, Information knowledge industry
  • Seoul Startup Hub : The largest public platform for comprehensive support for startups in Seoul
  • Seoul Bio Hub : A platform for biomedical startups, vitalization and development of the healthcare industry
  • AI Yangjae Hub : Fostering talents related to artificial intelligence and big data
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  • DMC
    Digital Media city (DMC) is a cutting-edge digital media and entertainment (M&E) cluster.

    It accommodates advanced IT technologies and outstanding human resources as well as competencies linked to the culutre and entertainment industry as the origin of the “Korean wave,” all of which contributes to Korea’s competitive advantage in the knowledge and information-based market of the 21st century. Nearly 500 companies and 40,000 workers reside in the DMC cluster and engage in the production and distribution of ICt-based digital content such as broadcasting programs, video contents, movies, and games or in the research and development of IT, BT, and NT. Major global companies in this cluster include LG IT Center; Scanline VFX, a visual effects studio participating in the production of Hollywood movies including the Avengers series and Aquaman; and Abiotech, a company to research and develop antibody drugs.

  • Magok R&D Complex
    Magok R&D Complex is an eco-friendly, state-of-the-art industrial cluster consisting of a sophisticated technology industry area and a residential area.

    This complex serves as an innovative growth engine with all R&D competencies from large and small companies concentrating on future-oriented high technologies (IT, BT, NT, and GT) and will be further developed into the largest MICE (meetings, incentives, conferences, and events) complex in the southwest area of Seoul. Major global companies located in Magok include Nexen Tire, Toray Advanced Materials, S-OIL, LG Science Park, and Kolon Future Technology Institute.

  • G-Valley
    high-tech industries and information knowledge industries. It is now called “Korea’s Silicon Valley.”

    In the 1960s, G-Valley was an industrial cluster focusing on the textile and sewing industries as means to foster Korea’s export industries. However, this complex has rapidly transformed into an urban high-tech industrial complex as it was adopted by venture companies engaging in high value-added, high-tech industries and information knowledge industries. It is now called “Korea’s Silicon Valley.”

  • Seoul Start-up Hub
    Seoul Start-up Hub is the city’s largest public platform for providing comperhensive support for startups across the entire process from preparing to start a business to growing into a unicorn.

    The Seoul Metropolitan Government and private sector entities including investors, large and small companies, research in institutes, and colleges work together to create “a startup-friendly Seoul” and provide direct and indirect support to facilitate the quantitative and qualitative growth of startup ecosystems. Seoul Start-up Hub is home to 107 startups and maintains partnership agreements with iMakerbase, ENSL Partners, WIForum, Usako Group, Sprint Academy, KIBC, IngDan, Makuake, and The Yozma Group to support startups in Seoul.

  • Bio Hub
    The Seoul Metropolitan Government has established Seoul Bio Hub, an innovative bio startup platform in the northeast area of Seoul (Hongneung) to boost the ecosystem of biomedical startups and facilitate the growth of the healthcare industry.

    A number of universities, research institutes, and hospitals are linked to the hub, providing a firm foothold for biomedical startups.Seoul bio Hub is occupied by a total of 122 companies:36 from the pharmaceutical industry, 29 from the digital health industry, and 25 from the medical device industry. This industrial cluster maintains partnerships with leading global bio companies including Johnson & Johnson, Novartis, Janssen, and MSD

  • AI Yangjae Hub
    In response to the Fourth Industrial Revolution, AI Yangjae Hub was created by the Seoul Metroplitan Government based on thorough planning

    It develops AI and Big Data Professionals and discovers Ai-specialized companies to provide a wide range of support including incubation, funding, technological advice, management consulting, and marketing to help them to grow into unicorns. Currently, about 80 startups are dedicating their diligent efforts to become a unicorn company in AI Yangjae Hub

Business Districts

In Seoul, there are approximately 820,000 businesses employing a total of 5.21 million workers. Out of the total number of businesses, 31.7 percent (41.4 percent as for the number of workers) is concentrated in the Central Business District (CBD), Yeouido Business District (YBD), and Gangnam Business District(GBD).
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GDB, CBD, YBD - businesses, 31.7 percent, 41.4 percent as for the number of workers
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  • A.CBD
  • B.YBD
  • C.GBD
  • Central Business District
    (CBD)
    Jung-gu, Jongno-gu The Central Business District is located at the heart of Seoul, stretching from Gwanghwamun to Seoul Station. An area where past and present coexist, this district has been as a political as well as economic hub since the 14th century, and now serves as the seat of the Blue House, public and administrative agencies, embassies, headquarters of large Korea companies, Korean branches of global companies, and various associations and organizations. It is the oldest business district in Seoul but nonetheless continues to garner the most interest from foreign companies. Major companies situated in this district include Hyundai, Morgan Stanley, Microsoft, and Citigroup.
  • Yeoido Business District
    (YBD)
    Yeongdeungpo-gu Yeouido is a 2.9-square-kilometer island on the Han River in southwest Seoul. The Yeouido Business District has been developed into a financial hub of Seoul since the korea Stock Exchange relocated to Yeouido from the CBD in the late 1970s. Occupied by a large number of banks, stock companies, investment companies, and the Financial Supervisory Service, this district is called “Korea ‘s Wall Street.” It also accommodates the National Assembly and the iconic International Finance Center (IFC). Major companies in this district include LG Electronics, Hyundai Capital, Sony Korea, Intel, HP, UBD, Deloitte, ABL Life Insurance, and Ernst & Young.
  • Gangnam Business District
    (GBD)
    Gangnam-gu The Gangnam Business District is the second largest Business district in terms of the number of office buildings. Gangnam literally means “south of the river” which refers to the region to the south of the Han River flowing through the center of Seoul from east to west. Teheran-ro, a road running from Gangnam Station through Samseong Station, is crowded with a myriad of businesses including numerous IT companies, creating a facilitating environment for active B2B interactions. The areas surrounding Samseong Station are recognized for global trade, distribution, and logistics through WTC Trade Tower. With Hyundai motor’s launch of its Global Business Center, along with Samsung Group’s relocation, this district is expected to establish a strong presence as one of the most important business districts in Seoul. Major enterprises in the GBD include Samsung, Hyundai Motor Group, POSCO, SM Entertainment, Google Korea, eBay Korea, Nike, and Boeing Korea Engineering Technology Center (BKETC)