Seoul Seeks to Attract Beauty and K-Entertainment Firms Beyond Biotech, Kicking Off Northern Seoul Transformation

In Line with the "K-Entertainment Town" Vision
Seoul Reaches Out to Cosmetics and Entertainment Companies

The Seoul Metropolitan Government is significantly expanding the pool of companies it hopes to attract to the Seoul Digital Bio City (SDBC), planned for the Changdong rail depot area in northern Seoul. The city is broadening its target beyond the bio and artificial intelligence (AI) companies that were initially central to the project to include K-entertainment and cosmetics companies, a move seen as kick-starting a major transformation of northern Seoul.

A bird's-eye view of Changdong Arena. Seoul Metropolitan Government.

According to The Asia Business Daily on October 9, the Seoul Metropolitan Government recently began actively assessing demand for space in SDBC from the culture, performance and beauty industries, in addition to domestic bio, AI and advanced technology companies. Until now, the city had focused its surveys on associations related to biopharmaceuticals.

The strategy aims to diversify the types of companies eligible to move into the area in line with the city’s “Major Transformation of Northern Seoul: An Era of Prosperity for Northern Seoul” project and the “K-Entertainment Town” concept announced in April. The Seoul Metropolitan Government has sought to contact companies through major industry associations, including the Korea Popular Music Industry Association, the Korea Biopharmaceutical Manufacturers Association and the Korea Cosmetic Association, and began a detailed survey of companies’ interest in moving to the area last month.

According to the “SDBC Industrial Complex Occupancy Demand Survey” obtained by The Asia Business Daily, the Seoul Metropolitan Government included among the target industries the manufacture of basic chemicals and pharmaceuticals; nonmetallic mineral products related to nanomaterials; semiconductor and electronic components manufacturing; systems and application software development; production and distribution of video and audio recordings; and creative and arts-related services.

SDBC is a project to redevelop a 170,000-square-meter area in Changdong, northern Seoul, which was used as a subway train depot for 40 years, and transform it into a Seoul-style new industrial complex. It is expected to become a next-generation, mixed-use industrial hub combining jobs, industry, culture and leisure.

Centered on Seoul Arena, a 28,000-seat venue scheduled to open in the first half of next year, the Changdong area will be developed into a “K-Entertainment Town.” The city plans to apply a floor area ratio of up to 1,300% to sites near Changdong Station and older commercial areas to attract commercial facilities, tourism and accommodation facilities, and office space that can boost the local economy. It also aims to secure 700 rooms in accommodation facilities as it develops the Changdong Station complex transit center, the NH mixed-use commercial facility and the support facilities site for Seoul Digital Bio City (S-DBC).

A Seoul Metropolitan Government official said, “Demand from bio companies alone has already reached more than 100% of the total industrial complex site area,” adding, “We have opened up opportunities to purchase land to a range of companies and expanded our demand survey to include the entertainment and beauty industries.” The official added, “The actual level of demand and the companies that sign contracts are expected to become clearer after the land sale announcement, which is scheduled for around 2028.”

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