The South Korean government plans to establish a global startup hub known as the “Korean version of Station F.” Station F, located in France, is the world’s largest startup incubator, housed in a renovated historical building and offering over 3,000 startup workspaces and a cafeteria.
According to the “Global Startup Hub Creation Plan” announced by the Ministry of SMEs and Startups on July 25, the government will develop these hubs in two locations: near Hongik University in Seoul and in the North Port area of Busan. Unlike France, South Korea’s strategy includes establishing hubs in both a regional area and the capital region simultaneously. The ministry explained that these two hubs will operate shared memberships and joint programs, allowing residents of the Busan hub to benefit from the capital region’s infrastructure and investment opportunities. This approach will also make it easier for capital region startups considering relocation to obtain relevant information.
The ministry aims to house approximately 400 ventures and startups in the Korean version of Station F by 2027. The global startup hub in the Mapo District near Hongik University will be known as “K-Deep Tech Town” (tentative name) and will focus on nurturing deep tech ventures and startups. The regional global startup hub will be set up in a former warehouse in North Port, Busan. Built in 1978, this warehouse symbolizes the era of export-driven industrialization. The ministry plans to transform this location into a regional startup landmark, attracting not only local startups but also those from the capital region and overseas.
