Pangyo Techno Valley (PTV) is an industrial complex in the city of Pangyo, Seongnam,

Gyeonggi Province Gyeonggi-do (, ) is the most populous province in South Korea. Its name, ''Gyeonggi'', means "京 (the capital) and 畿 (the surrounding area)". Thus, ''Gyeonggi-do'' can be translated as "Seoul and the surrounding areas of Seoul". Seoul, the ...

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korea, Korean Peninsula and sharing a Korean Demilitarized Zone, land border with North Korea. Its western border is formed ...

. It is also known as the

Silicon Valley Silicon Valley is a region in Northern California that serves as a global center for high technology and innovation. Located in the southern part of the San Francisco Bay Area, it corresponds roughly to the geographical areas San Mateo Count ...

of Korea. The complex focuses on

information technology Information technology (IT) is the use of computers to create, process, store, retrieve, and exchange all kinds of data . and information. IT forms part of information and communications technology (ICT). An information technology system ...

, biotech, cultural technology and fusion technology. One of the benefits of the diversity of fields and businesses is the maximized growth potential in the field of high-tech technology through exchanges between the companies. The location within a major metropolitan area creates synergy effects because of the proximity to other techno valleys or adjacent knowledge-based infrastructure clusters in the province. The business environment of the PTV is supported by the government of the

through the implementation of various support facilities as for examples a R&D center or public support center. Techno Valleys in Korea are playing an important role in innovation, creating new jobs and as hubs for technology start-ups. They are supported by the government through policy measures as for example tax-cuts, low interest loans or an expansion of the infrastructure.

Construction

Opened in 2011, Pangyo Techno Valley covers an area of about 661,000 m² in total. The general research site covers about 267,000 m². This site has direct researching facilities, research developing facilities, and school-work linked researching facilities. The research supporting site covers about 118,000 m². This site has guest houses, dormitories, a specialized graduate school, and a job training center. There has also been established a Global R&D center that covers about 46,488 m² (building) and 12,578 m² (land). It provides e.g. conference and education rooms. The parking lot covers 21,716 m². After the success of the Pangyo Techno Valley a second Pangyo Techno Valley is under construction. The second Pangyo Techno Valley covers about 425,760 m² in total. The first phase is expected to be finished in December 2019. The second phase is scheduled to be completed in June 2019. There are also plans for a third Pangyo Techno Valley that should be implemented until 2022 according to the region's governor. It will be built on a 583,581 m² site in Geumto-dong,

Seongnam Seongnam () is the fourth largest city in South Korea's Gyeonggi Province after Suwon and the 10th largest city in the country. Its population is approximately one million. Seongnam is a satellite city of Seoul. It is largely a residential c ...

Gyeonggi Gyeonggi-do (, ) is the most populous province in South Korea. Its name, ''Gyeonggi'', means "京 (the capital) and 畿 (the surrounding area)". Thus, ''Gyeonggi-do'' can be translated as "Seoul and the surrounding areas of Seoul". Seoul, the na ...

Companies

* ABN (Arem Broadcasting Network) * AhnLab Inc, founded in 1995, is a security software provider in

. AhnLab means 'Ahn-laboratory' and was constructed by

Ahn Cheol-soo Ahn Cheol-soo ( ; born 26 February 1962) is a South Korean politician, medical doctor, businessperson, and software entrepreneur. He currently serves as a member of the National Assembly as part of the conservative People Power Party. Prio ...

. Today AhnLab sells computer software such as

antivirus software Antivirus software (abbreviated to AV software), also known as anti-malware, is a computer program used to prevent, detect, and remove malware. Antivirus software was originally developed to detect and remove computer viruses, hence the name ...

, online security software for online games and the

Mobile Web The mobile web refers to mobile browser-based World Wide Web services accessed from handheld mobile devices, such as smartphones or feature phones, through a mobile or other wireless network. History and development Traditionally, the World ...

. * CHA group consortium 'CHA group' is a hospital and R&D group for human health sciences. 'CHA' was named after its owner's surname. *

Gabia Inc Gabia or Gabias may refer to: * Gabia, Gôh-Djiboua, Ivory Coast * Gabia, Sassandra-Marahoué, Ivory Coast *Las Gabias, Granada, Spain *André Gabias, politician from Quebec, Canada *Yves Gabias Yves Gabias (December 8, 1920 – March 25, 20 ...

, Internet domain registrar and hosting provider in

. * Kakao, a mobile app and Internet website developer *

Nexon Nexon Co., Ltd. is a global video game publisher, listed in Japan, that specializes in online Virtual World games for PCs, consoles and mobile. Nexon is one of the world’s ten largest interactive game companies based on market capitalization a ...

, a video game developer and publisher * Paymentwall, a global payment service and technology provider. * SK-Chemical was constructed by SK Group in 1976. SKC is now a chemical-research company in Korea. SKC requires 'green chemicals' and 'life sciences' for the health of humanity. * SK Planet, a mobile solutions subsidiary of

SK Telecom SK Telecom Co., Ltd. ( or ) is a South Korean wireless telecommunications operator and former film distributor and is part of the SK Group, one of the country's largest chaebols. It leads the local market with 50.5 percent share as of 2008. ...

* YURA corporation.

Economy

The Pangyo Techno Valley also affects the economic development of Pangyo and

Bundang Bundang is a planned community in the Bundang-gu district of Seongnam, South Korea. It was developed to encourage affordable housing and urban decentralization. The community has a sports complex, a park and a youth center. Origin Bundang w ...

significantly. In 2011, when the Techno Valley was established 88 companies had offices in this area. In 2017 already more than 1300 companies were based in the Pangyo Techno Valley, generating over 77.4 trillion

Korean Won The Korean won ( ko, 원 (圓), ) or Korean Empire won ( Korean: 대한제국 원), was the official currency of the Korean Empire between 1902 and 1910. It was subdivided into 100 ''jeon'' (; ko, 전 (錢), ). Etymology Won is a ...

in sales. 22 percent of the province's

gross domestic product Gross domestic product (GDP) is a money, monetary Measurement in economics, measure of the market value of all the final goods and services produced and sold (not resold) in a specific time period by countries. Due to its complex and subjec ...

is generated in the Pangyo Techno Valley. Due to the

Shinbundang Line The Shinbundang Line (aka ''Sinbundang Line''; ; literally, ''New Bundang Line'') or DX Line for Dynamic Express Line is a long line of the Seoul Metropolitan Subway. It is the world's fifth subway to run completely driverless and the second co ...

and various other transportation links the techno valley is well connected to Seoul and the Pangyo Station's business district will grow in size.

Transportation

Subway: Pangyo Station is the closest subway station to the Pangyo Techno Valley. Visitors and workers exit through Number 1 and travel for two blocks to reach the Pangyo Techno Valley. Bus: Pangyo Techno Valley has two different bus stops in front of the valley. The closest bus stop is number '320'. The second bus stop, which is numbered '380' and '4000', is across the road in the valley.

References

External links