Yongsan Electronics Market Receives Seoul City Approval as AI·ICT Special Development Promotion District

Full-Scale Development of a Future New Industry Hub

290,000 sqm Targeted for Relaxed Floor Area Ratio and Startup Support

Once a symbol of the domestic electronics industry, Yongsan Electronics Market in Seoul is set to be transformed into a hub for the artificial intelligence (AI) and information and communication technology (ICT) content industry.

Yongsan-gu (District Mayor Park Hee-young) announced on the 12th that the "AI·ICT Content Industry Special Development Promotion District Plan," covering an area of 290,325 square meters around Yongsan Electronics Market, received final approval and resolution at the 3rd Seoul Metropolitan City Industry and Special Development Promotion District Review Committee held at the end of May 2026.

Yongsan Electronics Market AI·ICT Content Industry Specific Development Promotion District Perspective. Provided by Yongsan-gu.

Once designated as a Special Development Promotion District, the area will be eligible for relaxed building coverage ratio, floor area ratio, and height restrictions through a district unit plan. It will also be eligible for support from Seoul's SME development funds, the establishment of corporate support facilities, and participation in a variety of business development programs. Since the area including Hangangno-dong and Wonhyo-ro 1·2-dong was selected as the target site in April last year, the district has been working on formulating the promotion plan.

The approved plan includes strategies such as establishing an industrial foundation, providing program support, building a foundation for growth, and creating an environment conducive to business growth. Specifically, it includes the creation of an operations support center (anchor facility), establishment of startup support spaces, support for corporate exhibition and experience spaces, operation of AI·ICT-related employment and entrepreneurship programs, and support for investment and financing.

Following this approval, the district plans to proceed with subsequent steps such as formally designating the Special Development Promotion District and establishing the district unit plan. Looking ahead, it aims to develop the area into a multi-purpose hub by connecting it with the Yongsan International Business District and Urban Regeneration Innovation District through a pedestrian network, thereby creating synergies between international business functions and cutting-edge new industries.

Park Hee-young, Mayor of Yongsan-gu, stated, "The Yongsan AI·ICT Content Industry Special Development Promotion District will become a new industrial hub of future Korea, where jobs, housing, and culture coexist in connection with the Yongsan International Business District."

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