South Korea Launches Twin-Hub Startup Initiative to Rival Station F

Sejong, South Korea—South Korea has announced plans to establish two major startup hubs, one in Seoul and another in Busan, to bolster its position in the global tech ecosystem.

The Ministry of SMEs and Startups (MSS) revealed that the hubs, modeled after Paris's Station F, will be located near the Hongdae area in Seoul and the North Port area of Busan.

The Seoul hub, called 'K-DeepTech Town,' aims to become a nexus for deep tech innovation. 

Slated to open in the first half of 2026, it will focus on attracting global tech giants, venture capital firms, and accelerators.

Busan's hub, set in a repurposed warehouse, is scheduled for completion by 2026. 

The port city was chosen for its potential in digital finance and smart ocean industries. The government plans to leverage the KRW 101.1 billion (US$72.9) Busan Future Growth Venture Capital Fund to support local startups.

This twin-hub approach departs from South Korea's traditionally Seoul-centric startup ecosystem. 

"By simultaneously developing both metropolitan and non-metropolitan hubs, we aim to elevate our startup ecosystem to become Asia's number one," said OH Youngju, Minister of SMEs and Startups.

The government targets hosting approximately 400 deep tech startups across both locations by 2027, signaling its commitment to tech-driven economic growth.