- Sookmyung Women’s University creates Korean “Innovation District” with Seoul City, etc.
Along with Seoul City, major universities, corporate representatives, public institutions, among others, our university has decided to participate in the project that will transform the underdeveloped areas of the Yongsan Electronics Market into a Digital Maker City.
At the “Yongsan Y-valley Innovation Platform Proclamation Ceremony” held at the Yongsan Electronics Market on April 3, 16 strategic institutions, including our university, signed an MOU related to a mutual partnership for the urban restoration of the Yongsan Electronics Market. The following is the list of institutions who entered the agreement.
Seoul City, Yongsan-gu
Merchants Association, Shopping Center Association
Sookmyung Women's University, Korea University, University of Seoul, Sungkyunkwan University, Yonsei University
Seobu T&D, CJ Olive Networks, Woori Bank, LG U+
Public Institution (3)
Korea Housing & Urban Guarantee Corporation (HUG), Korea Institute for Advancement of Technology (KIAT), Seoul TechoPark (TP)
Centered on the top 4 electronics markets of ▲ Seonin Market, ▲ Najin Market, ▲ Wonhyo Market, and ▲ Electronics Land, this project will transform the entire area of the Yongsan Electronics Market into a entrepreneur platform for young people by establishing entrepreneurship/educational facilities and programs, and by expanding the infrastructure that will facilitate jobs and living for young people to strengthen the connection with the surrounding environment. For this purpose, Seoul City plans to commit 20 billion won for 5 years starting this year.
Seoul City Mayor Park Won-soon said, “By utilizing the existing potential of Yongsan and attracting new industries such as drones and VR, we will transform this entire area into an innovation hub district where entrepreneurship and residential areas coexist much like the ‘Innovation District’ in Boston and ‘Huaqiang Bei’ in Shenzen special economic zone in China.”
Along with Korea University, Yonsei University, and other universities, our university is to open an onsite campus at the location and conduct entrepreneurship education to students or the general public who are aspiring to start their own business. At the Wonhyo Electronics Market within the Yongsan Electronics Market, opening with a total area of 6,000㎡, our university plans to operate Sookmyung Women’s University Cross Campus Startup Ground and find preparing and just starting entrepreneurs who require advanced technology in order to support housing, joint research via connection with our school’s advanced technology, and actively encourage technology transfer. In addition, the applying businesses with high potential can be given a chance to receive investment through the connection with the Sookmyung Women's University Technology Holdings Co., Ltd.
Public institutions and private companies participating in the MOU are to provide support as well. LG U+ is to establish “5G Technology Test Bed” in the Yongsan Electronics Market and CJ is to implement “IT Creative Coding Education” to elementary and middle school students in the region to foster future talents for the coming 4th industrial revolution. Woori Bank plans to provide support for small merchants by developing a “low interest loan program.” The large grounds (state/city owned) around the Yongsan Station that is currently being used as parking lots are to be used as a space where jobs and housing coexist by building a “entrepreneurship/housing complex facility” that combines cultural/leisure/housing functions.
President Jungai Kang said, “As the unique university located in Yongsan, the center of Seoul City, we will actively participate in the restoration project of Yongsan Electronics Market, which will become a base for the 4th industrial revolution and innovation, and we will make diverse efforts to find methods of collaboration that can lead to synergy effect with the community.”