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The high-tech urban industrial complex in Pangyo 2nd Techno Valley was designated in November 2015 for the purpose of creating an ecosystem for startups and innovation by forming an innovation cluster that bring together high-tech industries such as information and communication and knowledge and cultural industries.

Including Complex 1, which is not designated as an industrial complex, the number of companies operating in Complexes 1 and 2 total 1,622, with more than 86% being small and medium-sized enterprises. The number of employees is estimated to be around 79,000. The total sales reached KRW 167.7 trillion in 2022, with 1,194 companies operating in Pangyo 1st Techno Valley recording sales of KRW 157.5 trillion. Pangyo 2nd Techno Valley is home to 428 companies, most of which are SMEs. In 2023, the total sales of the second Techno Valley are expected to reach KRW 10.2 trillion, which is less than 10% of the total sales of the two Techno Valleys, but the growth is explosive considering it grew by as much as 828% from KRW 1.1 trillion in 2021, and more companies are moving in.

IT companies and game developers such as NCSoft and Smilegate account for 65% of companies operating in Pangyo Techno Valley, while BT companies (14%) and companies in the CT industry (10%) are also located there. The 2nd Techno Valley, which is about to be completed, is home to a variety of high-tech companies, and many more are expected to move in and boost the complex's overall sales. Based on these dynamics, the government is working toward designating a third Techno Valley in the area and attracting anchor companies. These anchor companies will be selected in December, and the developers will be selected in the same month to begin construction next year (completion is scheduled for 2029).

Gyeonggi-do and the Gyeonggido Business & Science Accelerator are offering various support programs such as rental deposit support, Technology Doctor Program, and My Data Program, which are playing a vital role in helping tenants of Pangyo Techno Valley to make their technologies more competitive and succeed in the global market.

As the same time, local governments and management authorities need to take active measures as the area is suffering severe traffic congestion during rush hour, and some companies are postponing their relocation due to lack of amenities, living infrastructure, and safety.

Nevertheless, Pangyo Techno Valley is expected to grow fast considering that its proximity to Seoul and the well-developed network of research institutes, leading companies, and universities will surely attract companies committed to R&D.