Yongdap Sangga Market Customer Center Remodeled to Create Startup Space, Usable for 2 Years at Below-Market Rates... Networking Meetings, Startup Consulting Education, and Other Incubation Programs Operated to Expand Startup Opportunities and Strengthen Corporate Competitiveness
Seongdong-gu, Seoul (Mayor Jeong Wono) announced that it has newly opened the Yongdap Startup Incubation Room to support local youth, prospective entrepreneurs, and early-stage startup companies, and has begun full-scale operations.
Since February, Seongdong-gu remodeled the 3rd and 4th floors of the Yongdap Sangga Market Customer Center, which was previously used as an Urban Regeneration Support Center for three months, into a new startup incubation space.
The Yongdap Startup Incubation Room, operated directly by Seongdong-gu, can accommodate five companies. Since recruiting resident companies from April, four companies have currently moved in.
The district plans to expand startup opportunities for new companies in the area and strengthen corporate competitiveness by allowing use of the space at 30-40% below market rates for two years.
The Yongdap Startup Incubation Room is divided into office space and common areas, with the 3rd floor office space consisting of three rooms in total.
Room 1 is a shared office used by three solo entrepreneurs together, while Rooms 2 and 3 are offices designed for companies with up to three or four people.
Additionally, the 4th floor common area consists of a shared lounge and meeting rooms, serving as a relaxation space and a meeting area equipped with multimedia facilities.
Since June, the Yongdap Startup Incubation Room has also been operating startup incubation programs such as startup company networking meetings and startup consulting education programs to support resident companies. The networking meetings are held once in each half of the year (June and November), where resident companies gather to share startup information and know-how, build communities, and expand the startup ecosystem.
Startup consulting education is held four times a year. Through this education, the district plans to help startup companies develop successful business ideas and effectively respond to problems arising during the startup process. On July 19, the second session of the education will be conducted for about 40 participants, including startup companies and workshop education attendees.
With the additional opening of the Yongdap Startup Incubation Room, Seongdong-gu now operates a total of three startup support facilities, including the Seongsu Startup Incubation Room and Yongdap-dong Dojeonsuk, a residential and startup incubation space, with a total of 33 companies currently residing.
Jeong Wono, Mayor of Seongdong-gu, said, “I hope the incubation room will serve as a foundation for early-stage startup companies with creative ideas to grow into innovative companies leading the local economy,” and added, “We will continue to pay close attention and make efforts so that prospective entrepreneurs and startup companies in the district can carry out more active activities.”
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