Seocho District Selects 30 AI Startups for 'Quarter-Price Office Space' at Excellent Enterprise Center

'Seocho AICT Excellent Enterprise Center' to Open This December
Mayor Jeon Seongsoo: "We Will Make It the Cradle of AI Unicorn Companies"

Seocho District in Seoul (District Mayor Jeon Seongsoo) announced on the 18th that it has finalized the selection of 30 promising domestic AI startups to move into the 'Seocho AICT Excellent Enterprise Center,' which is being established within the Yangjae AI Special Zone.

The Seocho AICT Excellent Enterprise Center is scheduled to open in December this year by leasing the newly completed Gangnam Data Center office building. This facility is being created by Seocho District to support startups that will lead the next generation of artificial intelligence industries. Resident companies will be able to use office spaces ranging from 92 to 185 square meters at rental rates one-fifth of the local market price, and will also receive management and technical support.

Exterior view of Seocho AICT Excellent Enterprise Center (left building). Provided by Seocho-gu.

This recruitment saw fierce competition, with over 60 companies from across the country applying. The district selected the top 30 companies through a review by a panel of AI experts, focusing on technological innovation, global growth potential, and business feasibility. The selected companies have an average annual revenue of around 1.2 billion won, hold an average of more than seven patents each, and include five companies that have won CES Innovation Awards.

Many companies struggling with high rental costs in metropolitan areas like Gangnam and Mapo, as well as startups in regional areas facing challenges in securing talent, applied for this opportunity. The district is also receiving ongoing inquiries about additional recruitment. Seocho District plans to attract more outstanding companies through a second round of recruitment in the first half of next year.

Resident companies will benefit from regulatory exemptions in the Yangjae AI Special Zone, such as extended residency periods (from three to five years) and priority patent application reviews. They will also have access to the 110 billion won 'Seocho AI Startup Fund' established by the district, high-performance computing infrastructure, a free 'AI Special Zone Bus,' investment attraction events, and other growth support programs.

Jeon Seongsoo, Mayor of Seocho District, stated, "We will spare no effort to ensure that the Seocho AICT Excellent Enterprise Center becomes the cradle of Korea's leading AI unicorn companies."