[Asia Economy Reporter Donghyun Choi] The urban regeneration project to create a startup valley around Korea University Anam-dong Campustown is set to be fully launched.
On the 30th, the Seoul Metropolitan Government held the 8th Urban Regeneration Committee meeting and conditionally approved the 'Anam-dong Campustown Urban Regeneration Activation Plan.' This review was a follow-up measure after the 'G-Local University Town Type Anam Startup Valley' project was finally selected as a new project under the Ministry of Land, Infrastructure and Transport's Urban Regeneration New Deal in September.
The Anam-dong Campustown project is the nation's first startup-centered urban regeneration model, promoted by Seoul since 2017. It focuses on revitalizing the region by gathering people and investments, fostering local settlement of startup companies, and building a strategic co-growth ecosystem between senior and junior entrepreneurs. The city plans to invest 48.6 billion KRW by 2024, including 10 billion KRW in national funds.
With an investment of about 50 billion KRW, the startup spaces around Korea University Anam Campus will expand to six times their current size, becoming a startup hub capable of nurturing 200 teams and over 1,000 entrepreneurs. In particular, the city plans to implement a phased nurturing strategy so that startups can progress from 'initial → practical → growth' stages.
Budget allocation will begin immediately in the second half of the year. As a core project, the city will establish three types of startup spaces based on a lifecycle-stage startup nurturing model: ▲Startup Studio ▲Startup Station ▲Level-up Studio, laying the foundation for the birth of entrepreneurs. The initial model, Startup Studio, is a small-scale office space for prospective entrepreneurs who have won in the residency competition. The city plans to expand the 10 locations operated through the Anam-dong Campustown project to a total of 33 locations. The practical model, Startup Station, involves remodeling buildings owned by Seoul Housing and Communities Corporation (SH Corporation) to create spaces for entrepreneurs in the practical stage, with construction scheduled to start by the end of this year. The growth-stage Level-up Studio will provide spaces capable of accommodating more than 10 employees, offering a stable startup environment for entrepreneurs.
To maximize the regional win-win effect focused on startups, various spaces and facilities where universities and residents can communicate and enjoy together will also be established. The 'Anam Eoullim Center,' a communication and exchange space for local residents, is planned to be built as a four-story building around Anam Station on Seoul Subway Line 6. Additionally, 'Startup Housing,' residential spaces for young entrepreneurs, will be created, and the living environment in the area will be improved.
Kim Euisung, Director of Seoul's Economic Policy Office, said, "This urban regeneration project was promoted as the nation's first startup-centered model to revitalize the region by supporting youth startups, helping startup companies settle locally, and expanding jobs," adding, "Seoul will actively support this project so that it can become a nationwide role model."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
