Pangyo Techno Valley — South Korea's Silicon Valley

Pangyo Techno Valley (PTV) is a planned technology industrial complex in Seongnam, Gyeonggi Province, approximately 20 km south of Seoul. Development of the First Techno Valley began in 2005 under Gyeonggi Province, and the district has grown to become South Korea's de facto Silicon Valley, housing the headquarters and R&D campuses of the country's most important technology companies.

By 2022–2024, the complex hosted over 1,700 companies across two phases (Pangyo 1 and 2), with 92% operating in high-tech industries. Total sales across the complex reached KRW 167.7 trillion (approximately US$125 billion) in 2022, with Pangyo 1 alone generating KRW 157.5 trillion. The workforce is approximately 79,000. Major anchors include Naver (Korea's dominant search and internet platform), Kakao (dominant mobile platform), Nexon, NCSoft, AhnLab, HD Hyundai, Samsung and LG. The complex generates approximately 22% of Gyeonggi Province's total GDP.

A Second Techno Valley has been developed adjacent to the first, focused on emerging technologies and a 'Venture Town' concept to house a new generation of startups alongside the established large-cap tenants.

Cautionary notes: a September 2025 TechCrunch investigation found that Pangyo struggles to live up to its 'Silicon Valley' label globally, citing over-reliance on a handful of large domestic champions, difficulty attracting international talent and companies, and limited global brand recognition. The valley's strengths are primarily domestic rather than globally diversified. Social equity data for workers is not published.

Read the full analysis: https://www.pangyotechnovalley.org/eng/main/view