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

Gyeonggi Province Gyeonggi Province (, ) is the most populous province in South Korea. Seoul, the nation's largest city and capital, is in the heart of the area but has been separately administered as a provincial-level ''special city'' since 1946. Incheon, ...

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia. It constitutes the southern half of the Korea, Korean Peninsula and borders North Korea along the Korean Demilitarized Zone, with the Yellow Sea to the west and t ...

. It is also known as the

Silicon Valley Silicon Valley is a region in Northern California that is 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 area of the Santa Clara Valley ...

of Korea. The complex focuses on

information technology Information technology (IT) is a set of related fields within information and communications technology (ICT), that encompass computer systems, software, programming languages, data processing, data and information processing, and storage. Inf ...

biotech Biotechnology is a multidisciplinary field that involves the integration of natural sciences and engineering sciences in order to achieve the application of organisms and parts thereof for products and services. Specialists in the field are kn ...

, 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,

Gyeonggi Gyeonggi Province (, ) is the most populous province in South Korea. Seoul, the nation's largest city and capital, is in the heart of the area but has been separately administered as a provincial-level ''special city'' since 1946. Incheon, ...

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. 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 comprises mobile browser-based World Wide Web services accessed from handheld mobile devices, such as smartphones or feature phones, through a mobile network, mobile or other wireless network. History and development Traditiona ...

. * 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, Internet domain registrar and hosting provider in

. *

Kakao Kakao Corporation () is a South Korean internet conglomerate headquartered in Jeju City. It was formed through the merger of Daum Communications and the original Kakao Inc. in 2010. The company was renamed Daum Kakao in 2014. In 2015, it was ...

, a mobile app and Internet website developer *

Nexon Nexon Co., Ltd. (formerly ) is a South Korean video game developer and publisher. It develops and publishes titles including ''MapleStory'', ''Crazyracing Kartrider'', ''Sudden Attack'', ''Dungeon & Fighter'', ''The First Descendant'', and ''Bl ...

, 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 * Smilegate, a video game developer and publisher * YURA corporation.

Economy

The Pangyo Techno Valley also affects the economic development of Pangyo and Bundang 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 in sales. 22 percent of the province's

gross domestic product Gross domestic product (GDP) is a monetary measure of the total market value of all the final goods and services produced and rendered in a specific time period by a country or countries. GDP is often used to measure the economic performanc ...

is generated in the Pangyo Techno Valley. Due to the Shinbundang Line 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