Recruitment of Tenants for the 'Seongdong Regional Economic Innovation Center Startup Incubation Room'

Affordable fees, individual office spaces and supplies, shared areas provided to support new entrepreneurs... Management fees and public utility charges waived amid COVID-19 challenges

[Asia Economy Reporter Park Jong-il] Seongdong-gu (Mayor Jung Won-oh) is recruiting new tenants for the startup space ‘Startup Incubation Room’ located within the Seongdong Regional Economic Innovation Center until June 8.

The ‘Startup Incubation Room’ is a startup space operated within the Seongdong Regional Economic Innovation Center by Seongdong-gu to nurture new companies that can contribute to revitalizing the local economy with excellent ideas and technological capabilities. It has been operating since 2016 to provide affordable office space to startups who find it difficult to secure office space due to rental burdens in the early stages of their business.

The recruitment target includes prospective entrepreneurs registered as residents in Seongdong-gu as of the application date or those who have established a business in Seongdong-gu within the last three years. The finally selected tenants will pay a low usage fee and receive individual office space, office supplies, and shared spaces.

An official from the district stated, “For the selected tenants this time, we decided not to charge management fees including unmanned security system usage fees, cleaning fees, and public utility charges such as electricity and water bills to ease the burden on companies caused by COVID-19.”

The recruitment period is from the 25th to June 8, and after evaluation by the screening committee, three companies will be selected in mid-June. Two companies will be selected regardless of the field if they have promising business plans, and one company will be selected from the ICT or IT development sector considering the characteristics of Seongsu-dong, where the Startup Incubation Room is located. The tenants can use the space for two years.

Applications can be submitted by visiting the Seongdong Regional Economic Innovation Center (Sangwon 6na-gil 22-11) after referring to the Seongdong-gu website and the Seongdong Regional Economic Innovation Center website. For other inquiries, detailed consultation is available by contacting the Seongdong Regional Economic Innovation Center.

Jung Won-oh, Mayor of Seongdong-gu, said, “The Startup Incubation Room is a space prepared with the purpose of actively supporting local companies that can contribute to job creation and revitalization of the local economy,” and added, “We will continue to make active efforts, including various projects, to make Seongdong a business-friendly district.”