[Pangyo Technovalley] 92% of Pangyo Technovalley Companies are in High-tech Industry with 109 Tril Won in Revenue

    LOS ANGELES, CA, November 01, 2021 /24-7PressRelease/ -- Among 1,697 resident companies in Pangyo Technovalley, 92.1% were in the high-tech industry, and 87.6% were SMEs.

Their last year's revenue amounted to 109.9 trillion won.

According to the survey conducted by Gyeonggido Business & Science Accelerator and Gyeonggi Urban Innovation Corporation on Pangyo Technovalley 1 and 2 resident companies from April to July this year, there were 1,697 resident companies and 1487 were SMEs, which is 87.6% of the total.

And, 97 (5.7%) were medium companies and 64 (3.8%) were large companies.

In Technovalley 1, 1112 (85.5%) were SMEs, 97 (7.5%) were medium companies, and 62 (4.8%) were large companies. Compared to last year with 1082 (85.9%) SMEs, 91 (7.2%) medium companies, and 58 (4.8%) large companies, the percentage of medium and large companies grew.

In Technovalley 2, 375 of 397 companies were SMEs, taking 94.5% of the whole.

The 2020 revenue of Technovalley 1 and 2 was about 109.9 trillion won, and Technovalley 1 took up 99% with 108.8 trillion won.

The 159 large companies (60.3%) and medium companies (26.9%) in Technovalley 1 accounted for 87.2% of the total revenue.

By industries, 1096 (64.6%) were in IT, 228 (13.4%) were in biotechnology, 220 (13.0%) were in cultural technology, and 19 (1.1%) were in nanotechnology, which makes high-tech companies totaling 1563, taking up 92% of the whole.

The number of full-time workers is 71,967, and the main age group is 49,151 workers in their 30s and 40s, accounting for 72.1%.

Among all employees of Pangyo Technovalley, 24,902 (34.6%) were research personnel, 19,972 (27.8%) were women, and 11,936 (16.6%) were new employees.

Park Jong-il, head of Gyeonggido Future Industry Division, said, "Pangyo Technovalley 1 and 2 will connect with each other to provide a better environment for resident companies. We will continue support to develop Pangyo Technovalley the center of Korean and global techno valley."

Pangyo Technovalley is an innovation hub for global companies comparable to the Silicon Valley in the US, Zhongguancun in China, and STATION F in France. It is an Asia tech hub with 1,259 IT, BT, CT, and NT companies that possess innovative products and technologies. Located just south of the metropolitan area, it provides the best environment for Korean companies to do business with great transportation access and infrastructure.

Various high-tech companies are located in Pangyo Technovalley, and it is occupied by 64,000 full-time employees, many in their 20-30s. In terms of industry, the companies are engaged in information technology, contents technology, biotechnology, and nanotechnology.

With the support of innovative companies with global capabilities such as Kakao, Naver, AhnLab, Krafton, NCSoft, Nexon, and Hancom, companies in Pangyo Technovalley recorded 107 trillion won in sales last year. Investment and infrastructure growth in Pangyo is expected to continue, with the Metaverse hub entering Pangyo this year.

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