NCSoft Signs Contract for Pangyo Site... Plans to Build 'Second Headquarters'

[Asia Economy Reporter Kang Nahum] NCSoft announced on the 16th that it has signed a land contract to build a global research and development innovation center.

The NCSoft consortium and Seongnam City signed a written agreement last December regarding the sale of approximately 25,719㎡ of city-owned land in Sampyeong-dong 641, and proceeded with the land sale contract yesterday.

The NCSoft consortium consists of NCSoft, Samsung C&T Corporation, Korea Local Government Officials Mutual Aid Association, and Mirae Asset Global Investments. The total purchase price for the land by the consortium is 837.7 billion KRW.

NCSoft will use 50% of the entire land. The purchase amount for NCSoft is 418.9 billion KRW, which is half of the consortium's total amount.

NCSoft plans to build a global research and development innovation center on the site and use it as its second headquarters. From the design stage, the construction will aim for the highest level of eco-friendly building standards.

The research and development innovation center is scheduled to start design in the second quarter of 2021 and aims for completion in 2026.