Seoul City is strengthening support across five key areas through its four Seoul Startup Hubs (Gongdeok, M+, Seongsu, and Changdong) to ensure that local startups maintain their growth momentum despite the prolonged economic downturn. The city plans to invest 26.5 billion won in entrepreneurship support programs run by these hubs this year, with the goal of selecting and supporting 800 companies.
Each hub specializes in different areas: Gongdeok serves as a comprehensive base, M+ focuses on the Magok Industrial Complex, Seongsu concentrates on ESG, and Changdong specializes in new media.
The five areas being strengthened include global expansion acceleration, with 3.4 billion won being invested to support 350 companies (130 from Gongdeok, 120 from M+, and 100 from Changdong) in expanding to 10 countries, with a special focus on AI support. The city is also expanding its hubs and networks, establishing more than eight overseas bases in countries including Spain, Vietnam, India, Singapore, Germany, the United Arab Emirates, Japan, and Thailand to provide localized support and strengthen technical validation in the European market.
For open innovation, Seoul City is investing 3.2 billion won to promote collaboration between more than 100 large and medium-sized companies and over 300 startups, expanding the ecosystem with a focus on medium-sized and private enterprises. To enhance global openness, 2.4 billion won is being invested to strengthen global networks, expand the operation of “Try Everything,” attract foreign entrepreneurs, and grow the startup ecosystem.
In discovering and nurturing future industries, Seoul will select 132 promising startups in new industries such as AI and robotics to provide one-stop growth support. Through these comprehensive measures, Seoul City aims to solidify its position as a global startup hub while ensuring sustainable growth for local startups in an increasingly competitive international landscape.
