The Yangjae and Woomyeon district in Seoul, where 280 small businesses as well as huge conglomerates including Samsung Electronics, Hyundai Motor, Kia Motors and KT are located, will be developed as an ‘Innovative Research and Development (R&D) Area’. (Image : Yonhap)
SEOUL, Nov. 2 (Korea Bizwire) – The Yangjae and Woomyeon district in Seoul, where 280 small businesses as well as huge conglomerates including Samsung Electronics, Hyundai Motor, Kia Motors and KT are located, will be developed as an ‘Innovative Research and Development (R&D) Area’.
The Seoul Metropolitan Government announced that it will be differentiating the area from other R&D complexes by expanding rental space and supporting facilities so that working, eating and sleeping can be solved at one spot.
The area is convenient for transportation since arterial roads pass nearby, and it is close to markets such as the southeast part of Seoul and the southern part of Gyeonggi province.
Firstly, the metropolitan government will include the Yangjae-Woomyeon area in the Seoul urban general plan and neighborhood unit plan and provide tax benefits.
The city will also divide the area in four, with each zone receiving a designation, such as ‘specialized R&D area for major companies’, ‘R&D promotion area for small businesses’ and ‘recreational area’, applying different management plans.
Also, building an ‘R&D support anchor facility’ as a priming business is under consideration. The facilities will offer support as offices and test beds for small companies and collaboration spaces.
Mayor Park Won-soon visited seven companies in the area to sign an agreement to cooperate to grow the Yahgjae-Woomyeon innovation area.
By M.H.Lee (mhlee@koreabizwire.com)
