Kakao will establish a digital hub in the Wangseok new town of Namyangju.
The Korea Land and Housing Corporation (LH) signed an agreement on the 13th at the Gyeonggi Provincial Office with Kakao Corp., Gyeonggi Province, and Namyangju City to attract investment for the Kakao Digital Hub (tentative name) within the public housing district of the Wangseok new town. The signing ceremony was attended by LH President Lee Han-jun, Gyeonggi Province Governor Kim Dong-yeon, Namyangju Mayor Joo Kwang-deok, and Kakao CEO Chung Shina.
The Kakao Digital Hub is expected to be built on approximately 3,400 square meters of industrial land in the Wangseok district, aimed at responding to future industry needs in artificial intelligence (AI). The total project cost is estimated to be around 600 billion won, with an expected creation of over 2,500 jobs.
LH plans to promptly push for the establishment of the target site and infrastructure for resident companies and to assist in the swift progression of related administrative procedures after thorough preparations.
Prior to attracting the Kakao Digital Hub, LH also signed an agreement last December with Woori Bank and Namyangju City to secure investment for the 'Woori Financial Digital Universe' within the self-sufficient land of Wangseok.
LH President Lee Han-jun noted, "This agreement is expected to secure the self-sufficiency of the Wangseok new town in Namyangju and to foster a new industrial ecosystem where youth and startups gather in the Wangseok district," and added, "We will continue to do our best to create the Wangseok new town in Namyangju, which will have quality jobs and high-quality public housing through ongoing collaboration between the public and private sectors."