The Seoul Metropolitan Government and the Seoul Economic Promotion Agency (CEO Kim Hyeon-woo) announced that they have signed a business agreement with the Magok Industrial Complex Residents Association (Chairman Kim Nak-hee) for the sustainable growth and joint development of the Magok Industrial Complex.
This agreement, now that Magok Industrial Complex has entered a stable operational phase, aims to move beyond its existing management-centric approach and strengthen collaboration with resident companies, systematically enhancing the complex's competitiveness. Furthermore, it is significant as a starting point for collaboration aimed at transforming the complex beyond a mere production and office space into a space where businesses, people, and culture come together.
As the operational structure of industrial complexes becomes increasingly flexible due to recent changes in the legal and institutional environment, industrial complexes are being asked to play new roles beyond their traditional function-focused spaces. Accordingly, the Seoul Economic Promotion Agency and the Magok Tenant Enterprise Council plan to jointly discuss the mid- to long-term development direction of Magok Industrial Complex and establish a cooperative system to systematically collect and address the challenges faced by resident companies.
The two organizations plan to link various business support programs, covering management, technology, investment, sales channels, and human resources, tailored to the growth stages of resident companies. They will also disseminate the results of their collaboration through meetings, briefings, and performance sharing events. Through these efforts, they aim to foster exchanges between companies within the industrial complex and create a virtuous cycle where policies and projects align with on-site needs.
This agreement also identified strengthening the competitiveness of industrial complexes through the integration of culture and industry as a key task. The Seoul Economic Promotion Agency plans to gradually implement programs that integrate cultural, artistic, and exchange elements to transform industrial complexes from production- and business-centric spaces into spaces that combine culture and experience. This is expected to lead to an improved spatial image of industrial complexes, strengthening corporate brand competitiveness, and attracting talent.
Jeon Dae-hyun, head of the Seoul Economic Promotion Agency, said, “Creating new value by combining culture and business is a key strategy that determines the competitiveness of cities and industries,” and added, “Through this agreement, we will create a new industrial complex model that links culture and industry, centered around the Magok Industrial Complex.”
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