'Startup Paradise Gyeonggi Province', Pangyo+20 Venture Cluster Exceeds Target Goals
[Suwon Ilbo=Reporter Kim Gap-dong] Gyeonggi Province announced on the 11th that through the 'Pangyo+20 Venture Startup Cluster Development' project, aimed at creating a 'startup paradise in Gyeonggi Province', it has created 3,356 startup spaces by this year, achieving early accomplishment of the 2026 target of 3,000 spaces.
The 'Pangyo+20 Venture Startup Cluster Development' is a core project of the 8th civilian-led administration that creates a total of 200,000 pyeong (660,000㎡) of startup space equivalent to twice the height of Lotte World Tower (90 soccer fields) across Gyeonggi Province by next year centered on Pangyo Techno Valley, supporting 3,000 startups. In October 2023, Gyeonggi Governor Kim Dong-yeon held a 'Venture Startup Vision Declaration and Win-Win Cooperation Ceremony' at the Second Pangyo Global Biz Center and announced the venture startup activation plan.
The province has actively secured startup spaces since 2023, creating △120,990 pyeong (1,540 spaces) in 2023 △49,200 pyeong (1,380 spaces) in 2024 △16,364 pyeong (436 spaces) in 2025, establishing a total of 3,356 startup occupancy spaces. By next year, the province plans to prepare 3,768 startup spaces across 200,000 pyeong (660,000㎡).
Specifically, at Second Pangyo, the core hub, company-led venture startup space of 150,000 pyeong (495,000㎡) has been created, accommodating over 2,000 startups. 'Gyeonggi Startup Bridge' created in the G2 block of Second Pangyo is a comprehensive support facility for the entire startup lifecycle with an exclusive area of approximately 1,700 pyeong (5,787㎡), where 200 startups and 20 support organizations began moving in from September this year. Resident companies receive customized support by growth stage, including △free office space △collaboration with large and mid-sized companies △investment pitching events (IR) △mentoring. At First Pangyo, 300 startups are being fostered in 11,000 pyeong (33,000㎡) of startup space.
Eight regional hubs have 39,000 pyeong (128,706㎡) with 1,468 spaces (including 2026 targets) and 26 startup spaces (8 hub-type, 18 designated-type). Hub-type startup innovation spaces have been created in Hanam (East Region), Anyang (Southwest Region), Bucheon (West Region), Goyang (Northwest Region), Guri (Northeast Region), Uijeongbu (North Region), Seongnam (Southeast Region), and Suwon (South Region, under development). Designated-type startup innovation spaces include 18 facilities such as Dongguk University BMC Startup Incubation Center (Goyang) and Dongtan Incubating Center (Hwaseong), which are currently operating. Additional designations for next year are under review.
The province recognizes that in addition to physical space, networking among stakeholders is important for activating the startup ecosystem. In February this year, the 'Gyeonggi Startup Council', a startup cooperation organization with 500 companies including startups and leading companies including Megazone Cloud, a Gyeonggi unicorn enterprise, was launched.
Additionally, for startup globalization, the province has held the 'Gyeonggi Startup Summit (G-SUMMIT)' annually since last year to provide investment opportunities, operates startup overseas entry programs, and supports youth startup groups' participation in international exhibitions and trade fairs, strengthening startups' international competitiveness through practical overseas experience.
Governor Kim Dong-yeon reiterated his commitment to creating a startup paradise in Gyeonggi Province at the opening ceremony of 'Gyeonggi Startup Bridge' held on October 22, saying "We aim to create a startup paradise and a third venture boom," and "We want to begin the dream of South Korea's economic leap from Gyeonggi Province, the center of South Korea's industry and innovation, and lead South Korea forward."