LPR To Host Digital Media City (DMC) Luncheon
- Marriott Hotel
- 525 Bay Street, Toronto Marriott, Eaton Centre
- November 15th.
- 10:30 a.m. to 1:30 p.m. (Lunch served at 12 p.m.)
What is Digital Media City?
The Seoul City government is preparing to build a Digital Media City (DMC) complex on the outskirts of Seoul, which will act as a focal point for IT and software firms wanting to take advantage of the 1.7 billion consumers in North East Asia. The 564,000 m2 complex, accessible by subway, will specialize in the Media and Entertainment industries, a strong growth area in the Asian marketplace. Boasting the world’s most inexpensive high-speed internet links; wired, wireless and satellite access links will provide state-of-the-art communication access within the digital complex. Companies within the DMC, with access to the Center for Cooperation between Industry and Universities, will be able to take advantage of a strong pool of Korean technology talent culled from the 56 colleges and universities in the greater Seoul region. Seoul’s DMC will act as a catalyst for hi-tech industries doing business in China, Japan, and the rest of Asia. A special Foreign Investment Zone will be established within the DMC enabling the resident firms to enjoy substantial tax advantages over a ten-year period, including 7-year corporate, income, acquisition, land and property tax exemptions. In addition, capital goods will be exempt from customs, special excise and value-added taxes. Anchor companies will be able to take advantage of special land prices if they chose to buy rather than rent a site. Features of the site will include an IT Training Center, Internet Data Center, Exhibition and Convention Center (with attached International Hotel), and broadcasting facilities. A one-stop administrative service will offer assistance to tenants on investment information, licensing, and government regulations. In addition, full facilities will be in place to provide accommodation and facilities for employees and family onsite.
Who will be interested in the DMC project?
International IT infrastructure, media and entertainment companies, IT services firms who have an interest in developing or expanding their operations in Asia, who wish to investigate a location which will offer significant local government support, and synergies associated with being in a facility shared by top national and international firms doing business in Asia.
Official Site : english.metro.seoul.kr/business/industries/budget/dmc.cfm’