Seoul"s Software ValleyA large-scale software complex will be built in Socho-dong, Seoul this year. The Ministry of Information and Communications(MOIC) announced on January 18 that it will lease two buildings to set up a complex to be used by software developers and computer-related industries, nicknamed Seoul Soft Valley.
The government will spend 30 billion won on the site which will feature many facilities related to the computer industry including a joint research and development center, exhibition room, museum, conference room, and an Internet cafe.
A source at MOIC said, 'The development of the software industry needs a synergistic effect, a place in which more than 100,000 experts can work together in the same space. We selected this region because there are already more than 1,500 computer-software companies in Socho-dong.'
A favored-tax system is expected to be granted to companies located in the complex. MOIC plans to negotiate with the Seoul Metropolitan Government and the district office of Socho-ku.
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