R&D Hub, Companies Flock to Magok District: Spotlight on 'Magok Botanic Gate'

- To Seoul R&D Hub... Companies Flock to Magok
- Attracting Companies with Affordable Sale Prices, 'Magok Botanic Gate' Draws Attention

The Magok-dong area in Seoul is undergoing a complete transformation and is expected to emerge as a leading city in South Korea.

Since groundbreaking in 2009, the Magok district has changed dramatically over the past 15 years. In the early 2000s, Magok was merely a rural village filled with rice paddies and fields, but it now plays a crucial role as an "advanced research and development industrial cluster" responsible for South Korea's future growth engines.

According to the Seoul Metropolitan Government, a total of 199 domestic and international companies have confirmed their relocation to the Magok district. Among them, 144 companies, including 51 major corporations such as LG, Lotte, Kolon, and S-Oil, have established their bases based on completed construction.

Development in the Magok district is still ongoing. In particular, the "MICE Complex" development project is set to become a core pillar of the Magok district. This area will include office and retail facilities, a convention center, cultural assembly spaces, and hotels, with a total floor area of 826,520 square meters?about twice the size of Gangnam's COEX (460,000 square meters). Additionally, COEX itself plans to open a branch here.

The development of the CJ factory site is also a positive factor for Magok's growth. The 93,686 square meter site near Yangcheon Hyanggyo Station on Subway Line 9 will be developed at 1.7 times the size of COEX, featuring office and retail facilities as well as knowledge industry centers. Starfield Village is also preparing to open there. Furthermore, Gangseo-gu plans to integrate Gimpo Airport, the Magok district, and the CJ site into a single economic belt for development.

As such, Magok district is poised to become a business-friendly city, attracting many companies to establish their presence here.

In particular, the recently launched knowledge industry center "Magok Botanic Gate" boasts an excellent environment even within the Magok district. This complex spans from four basement levels to ten above-ground floors, with a total floor area of 37,736 square meters.

"Magok Botanic Gate" benefits from significant development prospects nearby, offering excellent transportation access and comprehensive rest and leisure facilities.

The transportation conditions are comparable to those of Gangnam, Yeouido, and Yongsan, the original downtown areas of Gangnam.

Workers at "Magok Botanic Gate" can access Seoul Subway Line 9's Yangcheon Hyanggyo Station, Line 5's Balsan Station, and the Airport Railroad's Magoknaru Station. Notably, Yangcheon Hyanggyo Station is just a five-minute walk away, allowing direct travel to Gangnam or Yeouido without transfers.

For drivers, major routes such as Olympic-daero, Gayang Bridge, and Gangbyeonbuk-ro provide quick access to key urban centers including Yeouido, Mok-dong, Gangnam, Sangam DMC, and Yongsan.

Additionally, "Magok Botanic Gate" is adjacent to Seoul Botanic Park, offering a nature-friendly work environment. Surrounding areas include a wetland ecological park, cultural park, and Harmony Park, providing various rest and leisure spaces where workers can rejuvenate amidst nature during work breaks.

Within the complex, various rest and leisure spaces are planned to provide convenience to resident companies and workers, including the "Botanic Stand" pedestrian and green space connected around a central plaza, the "Therapy Terrace" with panoramic views of Seoul Botanic Park and the Han River, and the "2nd Floor Deck" open toward Seoul Botanic Park.

Notably, the sale price of "Magok Botanic Gate" is relatively affordable compared to surrounding areas, offering an attractive opportunity for companies.

In Yeongdeungpo-gu, knowledge industry centers are emerging with prices exceeding 30 million KRW per 3.3 square meters. In Geumcheon-gu, recent supplies have approached 30 million KRW per 3.3 square meters. In contrast, "Magok Botanic Gate" is offered at around 18 million KRW per 3.3 square meters.

Currently, the construction progress of "Magok Botanic Gate" is about 90%, allowing for quick occupancy. For more detailed information and consultations, visit the promotional center located in Naebalsan-dong, Gangseo-gu, Seoul, near Balsan Station on Line 5.