SEOUL Venture businesses are more than welcomed in a society betting the digital economy is the force driving economic expansion.
Strong criticism for creating a bubble economy following the recent plunge recorded on the over-the-counter KOSDAQ is not deterring entrepreneurs nor the government from nurturing nests.
Dubbed Korea s Silicon Valley, Tehran Street in southern Seoul was once a mecca for local venture firms but due to heavy traffic and most of all high rent, companies are on the look for a better environment.
IN Seoul, Yangjae-dong, Poi-dong, Mok-dong and districts in Songpa-ku, Kangdong-ku and Kuro-ku are emerging as luring dot-coms.
In the outskirts of Seoul, Pundang is fast becoming the next Silicon Valley like Songdo Media Valley in Inchon, Taedok Valley in Taejon and Pusan Digital Valley.
People locate businesses near Songpa-ku and Kangdong-du in Seoul because they are close to the birthplace of venture firms but with half the rent of Tehran Valley.
Intz.com, Kisan Telecom and Pyungchang Computer and Communication are a few big firms that have settled down in the area already.
Songpa Venture Town in Sinchon-dong being built by Songpa-ku District Office will be completed by the end of this year and have 33,000 square meters of floor space in total.
In Kangdong-du, near the Olympic Park, integrated complexes are making their debut. For example, 60 percent of the occupants in the Hyundai Topics Building are Internet companies such as Air Link, Buddy Tech and Chattoy.com.
In the Kuro district, l00 venture companies have settled down since Dongil Techno Town and ACe Techno Town at Kuro 3-dong were designated venture buildings in l996.
Another building providing floor space of 33,000 square meters is under construction nearby and will open later in the year, transforming Kuros smokestack image into one of a digital valley.
Around 200 venture firms have gathered near Hanyang University and Ttuksom after Songdong-du District Office announced it would nurture the district for ventures.
Mok-dong Valley has formed along subway line number five for the convenience of commuting. Data centers for Korea Telecom and Seoul Mobile Communication are located there. E-Corporation and 40 other Interment venture companies have rented offices close by.
After Korea Telecom and the research center for SD Telecom moved to Pundang Valley due to convenient facilities and location, smaller IT companies followed: Standard Telecom, turbo Tech and TechnoSemicam are just a few.
The center of Pundang is Sohyoun Station. Posdata, Mirae Industry, Daedoo Telecom, Qnix Computer, Doosan Electronics, Korea Telecom International and others are camped there.
More have settled near other Pundang subway stations, Yatap and Chorim.
The venture boom in Pundang has spread to near by Mikum Station and Yongin. People are opening up offices there, said Chung Ji-wan, president of TechnoSemicam.

the town will be filled wit venture entrepreneurs soon.

Local governments want to be part of the action and are leading the formation of venture towns. Inchon, Taejon and Pusan are trying to ride the wave of the venture business boom.
Songdo Media Valley in Inchon will be by far the largest venture complex wen completed in 2006. It will provide 2.8 square kilometers of space equaling the size of Yoido.
Taedok Valley in Taejon was finished before l997 but suffered heavily due to the economic crisis when research funds were slashed.
However, it is making a brilliant comeback with construction of exclusive venture complexes.
Down south, Pusan is jumping with l0 local companies getting listed on KOSDAQ. The city plans to construct four venture supporting centers with the Korea Institute of Multimedia Contents and Software.
Local authorities have bought nearly six acres of land for a digital media zone software supporting town to be completed in 2004.
The digital valley in Pusan will be nurtured as a base from which to advance into Southeast Asia, said Yoon Jong-seok from Pusans venture company support team. (Yonhap)

Songpa Venture Town in Sinchon-dong being built by Songpa-ku District Office will be completed by the end of this year and have 33,000 square meters of floor space in total.
In Kangdong-du, near the Olympic Park, integrated complexes are making their debut. For example, 60 percent of the occupants in the Hyundai Topics Building are Internet companies such as Air Link, Buddy Tech and Chattoy.com.
In the Kuro district, l00 venture companies have settled down since Dongil Techno Town and ACe Techno Town at Kuro 3-dong were designated venture buildings in l996.
Another building providing floor space of 33,000 square meters is under construction nearby and will open later in the year, transforming Kuros smokestack image into one of a digital valley.
Around 200 venture firms have gathered near Hanyang University and Ttuksom after Songdong-du District Office announced it would nurture the district for ventures.
Mok-dong Valley has formed along subway line number five for the convenience of commuting. Data centers for Korea Telecom and Seoul Mobile Communication are located there. E-Corporation and 40 other Interment venture companies have rented offices close by.
After Korea Telecom and the research center for SD Telecom moved to Pundang Valley due to convenient facilities and location, smaller IT companies followed: Standard Telecom, turbo Tech and TechnoSemicam are just a few.
The center of Pundang is Sohyoun Station. Posdata, Mirae Industry, Daedoo Telecom, Qnix Computer, Doosan Electronics, Korea Telecom International and others are camped there.
More have settled near other Pundang subway stations, Yatap and Chorim.
The venture boom in Pundang has spread to near by Mikum Station and Yongin. People are opening up offices there, said Chung Ji-wan, president of TechnoSemicam.