Seoul, South Korea – The South Korean government has designated three new special development zones, aiming to foster innovation and economic growth in key industries. The Ministry of SMEs and Startups announced on November 29th that Yangjae AI Future Convergence Innovation Zone, Daejeon Special Visual Content Zone, and Siheung Geoboksom Water Sports Zone have been selected for the special status.
The special development zone program offers regulatory benefits to local governments that aim to promote regional balanced development and economic revitalization through specialized projects tailored to their unique characteristics.
Yangjae AI Future Convergence Innovation Zone
Located in Seocho-gu, Seoul, the Yangjae zone is home to approximately 500 AI and ICT-related SMEs, startups, and corporate R&D centers. Leveraging this concentration of expertise, the government plans to develop the area into a global AI hub by nurturing talent, supporting startups, and fostering technological advancements.
Specific initiatives include:
Operating AI graduate programs to cultivate specialized talent
Establishing an AI startup fund and providing loans
Promoting joint research among industry, academia, government, and the military, as well as fostering global partnerships
Organizing the Seocho Smart City Festival and building related infrastructure
Daejeon Special Visual Content Zone
The Daejeon zone, encompassing Seo-gu and Yuseong-gu, is home to Cube, South Korea's largest multipurpose filming studio. The government will focus on:
Supporting the development and commercialization of special visual content technologies
Creating a special visual content convergence cluster
Constructing a youth content tower (public rental housing) and operating a full-cycle enterprise support center
Developing a special visual content themed street
Given the presence of numerous science and technology research institutions and businesses in the area, the government aims to position Daejeon as a strategic base for the special visual content industry.
Siheung Geobukseom Water Sports Zone
The Siheung zone in Gyeonggi-do will leverage its maritime facilities and the nearby Sihwa Lake to develop diverse tourism content and establish itself as a specialized hub for water sports tourism.
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