Seoul Housing and Urban Development Corporation (SH) said on the 8th it will supply 33 mixed-use lots, totaling 1,252,270 square meters, in the Magok General Industrial Complex in Seoul.
The mixed-use land supplied this time is designed so that if 50% or more of the total floor area is used for industrial facilities such as research facilities, non-industrial facilities such as offices, medical, retail, cultural, sports, and neighborhood living facilities can be created in the remaining space.
The Magok General Industrial Complex currently houses 209 corporations' research facilities, including LG Science Park and Kolon Future Technology Institute, and is equipped with various infrastructure for joint research and development and open innovation.
SH plans to use this supply to build the Magok district into a testbed for the southwestern "physical artificial intelligence (AI)" industry. In the business plan evaluation process, corporations with strong technology and business capabilities in AI will be given preference to promote the creation of a related industrial ecosystem.
Applications for occupancy are allowed as a single corporation or as a consortium of two to five corporations. Business plans will be accepted until Oct. 20, followed by a review by the Magok Industrial Complex Policy Review Committee on Nov. 26, after which the final negotiation candidates will be selected.
Detailed lot-by-lot areas, expected supply prices, and the notice can be found on the websites of SH and the Seoul Business Agency.