According to Yonhap News,
(SEOUL=Yonhap News) The Seoul city government on Wednesday announced a plan to create an information and communication technology (ICT) hub in the capital's southern district.
The Seoul Metropolitan Government said it will push to designate a 3-million-square-meter area in Seocho Ward as the hub early next year and relax regulations to boost R&D in the region.
The municipal government expects the move to create some 15,000 jobs, bringing together both small and large enterprises for technology development.
"The region already has research centers of large enterprises, including LG Electronics Inc. and Hyundai Motor Co., as well as some 280 small and medium-sized firms, making it more favorable to establish an innovative ecosystem," the city government said.
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Source: Yonhap News (Aug. 3, 2016)