Pangyo Techno Valley is an innovation park located south of Seoul (Gyeonggi Province) that focuses on information, biotech, cultural and fusion technology.
It is Korea's best ICT-based R&D innovation cluster with a total of 5.27 trillion won (around 4.2 billion USD) invested by the South Korean government. It was completed in 2015 and covers an area of about 454,964 square miles with support facilities such as the global R&D Center, Public Support Center, and the Industry-Academy R&D Center.
The Pangyo Techno Valley is an environment where SMEs and startups can mutually exchange information with high-tech technology research institutes and large, global companies. This complex aims to merge different industrial sectors, mostly within the information and communications technology, to create new business opportunities and foster the growth of startups. Born2 Global reports that Korean's top 60 startups and K-Global 300 startups are all located in the Pangyo Startup Campus.
To further support the growth of startups, the Korean government has started construction on the Pangyo Techno Valley, an addition to the existing complex, and is scheduled to be completed in 2019. The extension will be a new community especially for startups and high-tech firms and will consist of sites for private companies, including venture startups, "venture campus" sites for startups, "innovation towns" for companies and research institutes, and government organizations that will provide support for startups, innovative technologies and for arts and other creative industries in the area.