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Industrial Clusters and Locations of Start-up Corporations in Seoul

Dalho ChoㆍJaeuk JooㆍIn Hye Yu

Seoul Metropolitan Government(SMG) promotes and supports budding corporations in Seoul. In fact, corporate enterprises perform better in value addition and creation of employment than private businesses even though the number of corporations are much less.

Corporations of specific industries tend to convene in a certain area to create a synergy effect among them. First, we looked at industrial clusters of major industries in Seoul located in different areas. We then studied the locations of startups to examine if the existing clusters were getting strong or weak, and to establish new industrial clusters. We also tried to figure out the determining factors in selecting a suitable location for establishing corporations.

Various clusters old and new were found in different locations around Seoul, and they turned out to have different characteristics in industrial accumulation and intensity. Recently, SMG is trying to build a few new industrial clusters in Seoul, and this study suggest a few policy implications for them.