KORAIL (Korea Railroad Corporation) has launched a roadshow targeting local companies in Silicon Valley, USA, to actively attract investment for the Yongsan International Business District.
From June 2 to 7, KORAIL visited key U.S. cities including New York, San Francisco, and Los Angeles, initiating its first step in attracting global headquarters to Yongsan. This U.S. tour aims to establish Yongsan as a leading business hub comparable to Singapore or Hong Kong, by leveraging international investment. The delegation was joined by Seoul City, which holds the permitting authority, and SH공사, the joint project implementer.
On June 4, KORAIL participated in ‘Seoul Forward’ in Silicon Valley, presenting plans for Yongsan International Business District to over 50 global and tech companies, fostering mutual exchange and cooperation. Seoul Forward is an international investment promotion event launched by Seoul City in 2023, showcasing Seoul’s investment environment, incentives for foreign investors, and offering one-on-one consultations on legal and patent issues.
During the event, KORAIL introduced the future vision and strategic location advantages of Yongsan, while exploring collaborative strategies to attract Asia-Pacific headquarters of participating companies.
Prior to this, on June 2, KORAIL visited New York University’s Urban Science and Progress Center and WiredScore, a company specializing in smart city certification, to discuss ways to strengthen corporate interest in relocating through smart city development. WiredScore is an international organization that evaluates and certifies digital infrastructure quality in buildings and real estate.
On June 4, KORAIL also engaged in discussions at KOTRA’s Silicon Valley trade office on recruitment strategies for American high-tech firms.
NYU’s Urban Science and Progress Center was instrumental in leading the development of Hudson Yards, one of the most prominent smart city projects. WiredScore’s certification is recognized globally for digital infrastructure quality.
On June 5 and 6, meetings are scheduled with local real estate developers such as Heinz and Brookfield Asset Management to review development and investment cases from global companies. The aim is to identify key strategies for attracting anchor tenants necessary for establishing Yongsan as a major business hub.
Meanwhile, KORAIL plans to complete all permitting processes within this year, and aims to commence infrastructure construction and land sales. Based on insights gathered during the U.S. visit—such as corporate needs, preferred incentives, and investment intentions—KORAIL intends to strengthen land sale strategies.
The company also plans to continuously promote cooperation with government agencies and develop tailored attraction strategies for companies, alongside efforts in global marketing and advocacy, and the pursuit of legal and institutional improvements.
KORAIL’s Smart Transit-Oriented Development Division Director, Kang Jeong-cheol, expressed, “We will establish practical land supply strategies from a global investment perspective to position Yongsan International Business District as a leading hub in Asia-Pacific that extends beyond Korea.”
