Seoul opened the Seongsu IT Center last Thursday in Seongdong, one of its eastern districts, to help foster small- and mid-sized technology companies based in the capital city.

The center housed in a 14-story buildng has 9,900 square meters of offices, a mobile phone application development facility, and exhibition and consulting rooms, the Seoul Metropolitan Government said.

Rent is about one third of the average fee for other neighboring buildings. IT businesses can get consulting services from legal, patents, tax and marketing experts at the center. Thirty-one IT, bio-tech and R&D companies took a lease last May.

Startups will be able to promote their technologies at exhibition rooms in the center, which will also help find markets and offer marketing services.

The center, run by the Seoul Business Agency devoted to supporting small- and medium-sized enterprises, will hold lectures and operate business field trips as well.

“If the Tehran road in Gangnam, a southeastern area, was an IT hub of the 1990s, the Seongsu center will be the next IT valley of Seoul,” said Seoul Mayor Oh Se-hoon during the opening ceremony of the center. “We will run the center to develop IT companies as a driving force for the growth of Seoul.” 

By Lee Woo-young (wylee@heraldcorp.com)