KRW 33.7 Billion Investment to Establish ICT Startup and Citizen Engagement Hub, Poised to Revitalize Daedeok Innopolis

Daejeon, the undisputed science capital of South Korea, is poised to further solidify its preeminence with the groundbreaking of the 'Majungmul Plaza' construction project. This ambitious initiative, designed as a central hub for Information and Communication Technology (ICT) startups and citizen engagement, marks a significant step in Daejeon Metropolitan City's vision to translate the groundbreaking research of Daedeok Innopolis into tangible commercial successes.

The official groundbreaking ceremony for the 'Majungmul Plaza Construction Project' took place on April 16th at 2:00 PM, signaling the commencement of full-scale development. The event was graced by the presence of Daejeon Mayor Lee Jang-woo, Vice Chairman of the Daejeon Metropolitan Council Kim Young-sam, alongside city council members, representatives from the Ministry of Science and ICT, and construction stakeholders, totaling approximately 120 attendees.

The Majungmul Plaza, translating to "priming water" – the initial water poured into a manual pump to start the flow – aptly symbolizes its role in catalyzing innovation and exchange. Strategically located within the premises of the Electronics and Telecommunications Research Institute (ETRI), the project entails a total investment of KRW 33.7 billion (approximately USD 25 million). This state-of-the-art ICT-based complex, spanning a land area of 4,034 square meters and a total floor area of 8,782 square meters, is slated for completion in December 2026. It will serve as a nexus point, integrating facilities for startup incubation, technology commercialization, and robust citizen interaction.

The five-story building is meticulously designed to foster a synergistic environment. The first and second floors will be dedicated to public engagement, housing an ICT exhibition and promotion hall showcasing the nation's technological advancements, a café for informal networking, and versatile lecture rooms for educational programs and community events. The third floor will feature a cutting-edge research equipment Joint utilization Center, providing access to advanced instrumentation, alongside technology support offices offering expert guidance to startups and researchers. The fourth and fifth floors will be the core of the innovation ecosystem, providing dedicated ICT technology startup spaces designed to nurture nascent businesses.

The ICT exhibition and promotion hall is envisioned as a dynamic space that chronicles the historical trajectory and future vision of South Korea's ICT industry, playing a pivotal role in popularizing science and technology among the general public. Through interactive exhibits and engaging displays, it aims to inspire the next generation of innovators and foster a deeper understanding of the transformative power of ICT.

The research equipment joint utilization center will significantly enhance the accessibility of high-end research infrastructure. By opening up ETRI's extensive array of testing and verification equipment to external users from industry, academia, and research institutions, it will facilitate crucial technology validation, prototyping, and ultimately accelerate the commercialization process of promising research outcomes. This initiative will lower the barrier to entry for startups and smaller enterprises that may lack the resources to acquire such specialized equipment independently.

The dedicated ICT technology startup spaces will provide a nurturing environment for local enterprises. The city plans to allocate space to promising regional startups, offering partial rent reductions to alleviate the initial financial burdens typically associated with early-stage business development. Furthermore, customized support spaces tailored to the specific needs of young entrepreneurs and ETRI researchers venturing into entrepreneurship will be established. The design emphasizes creating an open and collaborative atmosphere, encouraging seamless communication, knowledge sharing, and synergistic partnerships among resident companies. Mentorship programs, networking events, and access to funding opportunities are also expected to be integral components of the support system.

The Daejeon Metropolitan City government envisions this ambitious project as a cornerstone in building a vibrant ICT startup ecosystem where the exceptional research  emanating from Daedeok Innopolis can seamlessly transition into successful startups and thriving enterprises. By fostering a conducive environment for innovation and entrepreneurship, the city aims to attract and retain talented young scientists and engineers in the region, contributing to the long-term economic growth and technological advancement of Daejeon.

Mayor Lee Jang-woo, in his address at the groundbreaking ceremony, underscored the strategic importance of this initiative. "It is imperative to maximize the strengths of Daejeon, Korea's science capital, through enhanced collaboration with ETRI, a leading government-funded research institution within Daedeok Innopolis," stated Mayor Lee. He further articulated his vision for the project, declaring, "We will develop Majungmul Plaza into an innovative hub for the industrialization of regional science and technology, and a dynamic nexus where citizens and science converge, fostering a culture of innovation and technological literacy."

The Majungmul Plaza project represents a significant investment in Daejeon's future as a leading global science and technology hub. By providing essential infrastructure and support for ICT startups, facilitating the commercialization of cutting-edge research, and fostering greater interaction between the scientific community and the public, Daejeon is taking concrete steps to ensure its continued prosperity and solidify its position at the forefront of technological innovation in South Korea and beyond. The successful completion of this project is expected to inject fresh dynamism into the regional economy, create high-quality jobs, and further elevate Daejeon's international standing as a premier destination for scientific research and technological entrepreneurship. The "priming water" of Majungmul Plaza is poised to initiate a powerful flow of innovation and growth for Daejeon's scientific future.