The Seoul Housing and Communities Corporation (SH) will supply 33 parcels of mixed-use land totaling 125,227 square meters in the Magok Industrial Complex, located in Gangseo-gu, Seoul. The initiative aims to attract companies related to artificial intelligence (AI) and robotics, particularly those involved in 'Physical AI,' to expand the advanced industrial ecosystem in the area.
According to SH, the mixed-use land is designed to accommodate industrial facilities alongside other types of developments. More than 50% of the total building area must be allocated for research and development (R&D) facilities, while the remaining space can include neighborhood commercial facilities, offices, medical services, retail, cultural, and recreational facilities. This layout is intended to provide both research spaces for companies and convenience for their employees.
The average supply price is approximately 7.5 million won per square meter, which SH describes as about half the level of surrounding market prices.
The Magok Industrial Complex serves as a hub for advanced industries in the southwestern part of Seoul, housing major companies' R&D functions, including LG Science Park and Kolon Future Technology Institute. Currently, 209 large and small enterprises have established research facilities in the area, which also supports collaborative R&D and technology partnerships between large corporations and small and venture businesses.
SH is particularly focused on attracting companies in the AI sector, especially those working on Physical AI technology, which integrates AI with physical devices such as robots, autonomous vehicles, and smart factories to enable real-world perception, decision-making, and control.
The core of this supply initiative is to integrate AI technology with the existing R&D foundation of resident companies. The goal is to broaden the scope of collaboration through joint research and practical applications with newly attracted firms.
Applications for land allocation can be submitted by individual corporations or consortia of 2 to 5 companies. Proposals will be evaluated based on the companies' R&D capabilities and business plans, with a preference for those demonstrating technological expertise and business potential in the AI field.
On September 4, SH held a briefing for interested companies and stakeholders, attended by about 70 participants. The session covered the supply scale, eligible parcels, residency qualifications, evaluation criteria for business plans, and the supply schedule, followed by a Q&A session.
Business proposals will be accepted until October 20. The final candidates will be selected after a review by the Magok Industrial Complex Policy Review Committee on November 26.
SH plans to support research and practical applications in the AI industry by linking the existing R&D infrastructure of the Magok Industrial Complex with newly established companies. This initiative aims to develop Magok as a growth hub for AI and R&D technology firms and to promote convergence among advanced industries.
* This article has been translated by AI.
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