Rent Set at One-Fifth of Market Rate
30 Startups Begin Occupancy
Seocho District in Seoul (Mayor Jeon Seongsu) announced on December 21 that it has established and officially begun operating the Seocho AICT Excellent Enterprise Center, a new hub for the growth of artificial intelligence (AI) startups, within the Yangjae AI Future Convergence Innovation Zone.
On the 18th, Jeon Seongsu, Mayor of Seocho District, delivered a welcoming speech at the opening ceremony of the Seocho AICT Excellent Enterprise Center. Provided by Seocho District.
The Excellent Enterprise Center is a business facility located on the ninth floor of the Empirion Digital Data Center (56, Yangjaedaero 12-gil, Seocho-gu). It offers 40 office spaces, along with shared infrastructure such as a conference hall, meeting rooms, and a server room. The rent is set at one-fifth of the average market rate in the area.
Seocho, which serves as the core of the AI ecosystem connecting Gangnam Teheran-ro and Pangyo, is now providing spacious offices ranging from 28 to 56 pyeong (approximately 92 to 185 square meters) at affordable prices, establishing a foundation for the long-term growth of AI startups. For the convenience of tenant companies, a cafeteria and a dedicated AI zone shuttle bus connecting key locations within the Yangjae AI Zone will also be operated.
Tenant companies will receive linked support through specialized programs such as the 87 billion won "Seocho AICT Startup Fund No.1" and the "High-Performance Computing Infrastructure Resource Support Project," both established by Seocho District this year. In addition, they will benefit from regulatory exemptions under the Yangjae AI Zone, including those related to patent law and immigration law.
Collaboration and exchanges with major research and support institutions within the zone-such as the Seoul AI Hub operated by Seoul National University’s Industry-Academic Cooperation Foundation and ETRI, the KAIST AI Graduate School, and the National AI Research Base-are expected to generate synergy in technology advancement and commercialization.
Through a public recruitment process in September, the district selected the first cohort of 30 outstanding AI startups. These companies have been verified, with an average annual revenue of 1.2 billion won, an average of seven patents each, and multiple CES Innovation Awards. Move-in began on December 8, and a second round will select an additional 10 companies in the first half of next year.
At the opening ceremony of the Seocho AICT Excellent Company Center, Jeon Seongsu, Mayor of Seocho District (to the right of the center button), and guests are conducting the button lighting ceremony. Provided by Seocho District.
The district held the opening ceremony for the Excellent Enterprise Center on December 18. The event was attended by Jeon Seongsu, Mayor of Seocho District; Choi Hojung, Chairman of the Seoul Metropolitan Council; Ko Seonjae, Chairman of the Seocho District Council; Kim Hyunwoo, CEO of Seoul Business Agency; Park Chanjin, Director of the Seoul AI Hub; Jeong Song, Dean of the KAIST AI Graduate School; Kim Kieung, Director of the National AI Research Base; as well as key figures from Korea’s AI sector and executives and staff from the selected startups.
Mayor Jeon Seongsu stated, "This year marks the inaugural year of the Yangjae AI Zone. As a result of focusing administrative efforts on building robust infrastructure, making proactive investments, and attracting top talent over the past year, we have successfully opened the Excellent Enterprise Center. We will systematically support the scaling up and global expansion of AI startups to nurture the next generation of unicorn companies and play a pivotal role in helping Korea emerge as one of the world's top three AI powerhouses."
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