Daejeon City Launches 'Majungmul Plaza' Project to Reinvent Daedeok Innopolis

Ministry of Science and ICT & Ministry of Economy and Finance Adjust Total Project Cost from 30.9 Billion to 31.3 Billion KRW
Establishing ICT Technology Commercialization Hub... Completion Scheduled for July 2026

Perspective view of Majungmul Plaza / Daejeon City

Daejeon City announced that the Maejungmul Plaza construction project, the first initiative in the Daedeok Innopolis reinvention, has completed the total project cost adjustment procedures with the Ministry of Science and ICT and the Ministry of Economy and Finance and will now be actively promoted.

Maejungmul Plaza is a project promoted by Daejeon City and ETRI (Electronics and Telecommunications Research Institute) for technology commercialization in celebration of the 50th anniversary of the launch of Daedeok Innopolis. The total project cost has increased by 400 million KRW from the original 30.9 billion KRW to 31.3 billion KRW.

Located at 168 Gajeong-dong, Yuseong-gu, the site of ETRI, Maejungmul Plaza will be built with a budget of 31.3 billion KRW, featuring one basement floor and five above-ground floors (total floor area of 8,782㎡), including an ICT technology commercialization hub, exhibition and promotion hall, and spaces for exchange and communication. Construction is scheduled to begin in October this year, with completion targeted for July 2026.

The city plans to provide ample space for entrepreneurs aiming to commercialize ICT technologies to encourage young scientists in Daejeon to settle locally, as well as establish an ICT exhibition and experience center for citizens.

Additionally, since ETRI is classified as a national critical facility with a "Na" grade restricting external access, a separate entrance will be installed to improve citizen accessibility.

Besides the Maejungmul Plaza project, the Daedeok Innopolis reinvention initiative includes the ‘Daedeok Innopolis Convergence Research Innovation Center Construction Project’ and the ‘Complex Science Experience Land Construction Project,’ both currently in the design phase and scheduled to start construction in 2025.

Mayor Lee Jang-woo of Daejeon stated, “Through the Daedeok Innopolis reinvention project, we will strive even harder to build Daejeon as a first-class economic city and the science capital of Korea,” and urged active cooperation and participation from research institutions within the Innopolis.