Korea Creative Content Agency to Nurture Small and Start-up Game Companies... Recruiting Tenants in Pangyo

80% Rent Subsidy and Access to VR Testbeds
Enhanced AI and Motion Capture Training... Applications Due by March 26

The government is seeking small and start-up companies that will lead the next-generation gaming industry.

The Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency announced on March 12 that they are recruiting thirty-two new tenants for the "Global Game Hub Center" located in the second Pangyo Techno Valley in Gyeonggi Province for the first half of the year. The initiative aims to help small game companies with growth potential, as well as prospective and early-stage entrepreneurs who have been in business for less than five years, to successfully expand their operations.

The open call is divided into two categories: fourteen companies for general tenancy and eighteen teams for the "Game Venture 4.0" program targeting early-stage start-ups. Domestic small and medium-sized game corporations selected as general tenants will receive support for 80% of office space rent and 50% of maintenance fees, with a minimum lease of two years and up to four years.

Developers who have been in business for less than five years will be fully exempted from occupancy costs for up to two years. In addition to workspace, essential development infrastructure such as mobile and virtual reality (VR) game testbeds and software will be provided at all times.

The Korea Creative Content Agency will operate a variety of practical programs to enhance the development capabilities of these companies. This includes consulting linked to artificial intelligence (AI), training on the use of motion capture, and comprehensive support for business management such as tax, legal affairs, and investor relations (IR) for fundraising.

Kim Sungjun, Head of the Game New Technology Division at the Korea Creative Content Agency, said, "We will continue to provide systematic support so that tenant companies can grow into key players in the industry, keeping pace with rapidly evolving technological trends."

Companies wishing to apply for tenancy must submit their application documents through the Korea Creative Content Agency’s website by 11:00 a.m. on March 26.

This content was produced with the assistance of AI translation services.