Applications Open Until August 13, Excellent Enterprise Center to Open in December
Up to 40 Companies with 20 to 42 Employees Each Can Move In
Seocho District in Seoul (District Mayor Jeon Seong-su) is recruiting 40 startups and venture companies in the artificial intelligence (AI) sector that have the potential to grow into next-generation AI unicorns. These companies will be selected to move into the Excellent Enterprise Center currently being established within the Yangjae AI Special Zone, with applications open until August 13.
Last year, approximately 400,000 square meters in the Yangjae and Umyeon-dong area were designated as the nation’s first “AI Future Convergence Innovation Special Zone.” Since then, the district has focused its administrative resources on developing this area into a central hub for AI that will determine national competitiveness. In particular, this month, the completion of the Gangnam Data Center, equipped with a high-performance computing environment essential for the AI industry, has secured an optimal location for this initiative.
The district will open the “Excellent Enterprise Center” in December this year, offering affordable rental rates so that AI startups and venture companies can establish themselves and grow. The Excellent Enterprise Center will occupy nine floors of the Gangnam Data Center’s office building and will consist of 40 independent spaces in four types?28, 33, 36, and 56 pyeong?allowing companies ranging from a minimum of 20 to a maximum of 42 employees to move in. The rent is set at one-fifth of the average market price in the area.
Notably, from the design stage, the district communicated with startup representatives to ensure the space would meet the practical needs of businesses. As a result, the Excellent Enterprise Center features 36 meeting rooms, reflecting a prior survey that indicated the necessity for “sufficient meeting space” due to frequent meetings with clients and investors and the presence of multiple companies. There will also be a conference hall and a break lounge available for tenants, as well as a free shuttle bus circulating between the center and nearby subway stations.
In addition, companies that move into the Excellent Enterprise Center will enjoy various benefits of the Yangjae AI Special Zone. These include regulatory exemptions such as priority patent examination and extension of foreign employees’ stay, creating a favorable environment for technological advancement and attracting top talent.
Furthermore, tenants can apply for a range of specialized programs, including the 110 billion won “Seocho AI Startup Fund” and the “High-Performance Computing Infrastructure Support Project.” Synergies are also anticipated through networking and technological cooperation with nearby institutions such as the National AI Research Hub, Seoul AI Hub, KAIST AI Graduate School, and major corporate research labs.
Detailed information about applying to move into the Excellent Enterprise Center can be found on the Seocho District Office website, Gieopmadang, or Startup Plus homepage. The application deadline is 6 p.m. on August 13. Applicants should submit the required documents listed in the announcement by email. Final tenant companies will be selected in September after a document review and in-person evaluation.
Meanwhile, in addition to the Excellent Enterprise Center, the Gangnam Data Center will also house the “Yangjae AI·ICT Operations Center” operated by Seocho District in the public contribution building, as well as the “National AI Research Hub” designated by the Ministry of Science and ICT, further solidifying the foundation of the Yangjae AI Special Zone.
Seocho District Mayor Jeon Seong-su stated, “I hope that many innovative and promising startups will apply to move into the Excellent Enterprise Center. Seocho District will do its utmost to ensure that these companies grow into next-generation AI unicorns and that Korea rises to become one of the world’s top three countries in the AI sector, with the Yangjae AI Special Zone at the center of this effort.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
