According to Yonhap News,

(SEOUL=Yonhap News) South Korea opened its largest startup complex in Pangyo, just south of Seoul, Tuesday as part of the government's drive for the so-called creative economy.

The "startup campus" is housing more than 200 local and foreign institutions to offer workspace and consulting services for capital funding, according to the Ministry of Science, ICT and Future Planning.

They include the Yozma Group, an Israel-based global venture capital firm, and TEDCO, created by the Maryland State Legislature to support startups.

Pangyo is home to a major "techno valley" where a number of IT companies and R&D institutes are operating.

The new campus will play a role as a hub for global start-ups and ICT-related businesses, ministry officials said.

In the coming decade, they added, more than 1,000 startups are expected to be born through the facilities created in partnership with the Gyeonggi provincial government.

lcd@yna.co.kr

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