CJ OliveNetworks Joins Efforts to Vitalize the Urban Restoration of the Yongsan Electronics Shopping Center

2018.04.03Press Release

- Joined the signing of an MOU to vitalize urban restoration at the “Yongsan Y-Valley Start-up Platform Declaration Ceremony” hosted by the Seoul Metropolitan Government
- Will actively support the software education of children and youth of Yongsan-gu and programs for youth business startups utilizing “Hubpot”

[CJ OliveNetworks= April 3, 2018 (Tuesday)] On April 3 (Tuesday), CJ OliveNetworks announced that it signed an MOU to vitalize the urban restoration of Yongsan Electronics Shopping Center area at the “Yongsan Y-Valley Youth Start-up Platform Declaration Ceremony” hosted by the Seoul Metropolitan Government.

The “Yongsan Y-Valley Youth Start-up Platform Declaration Ceremony” was organized to announce the new start of the center, which is being transformed into a new, complex cultural exchange space based on the electronics industry. The Seoul Metropolitan Government plans to renew the shopping center and turn it into a world-class “digital maker city” of the Fourth Industrial Revolution, wherein the digital industry is actively fused and mixed with new industries by drawing new technology-based industries, such as 5G, drones, and virtual reality (VR), and by tapping into the existing potential of the market.


The “Yongsan Y-Valley” brand embodies the urban restoration vision of the center and contains the meaning of “You & I making a hub for youth jobs (Young) wherein all ideas are tested and realized (Yes) at the Youngsan Electronics Shopping Center (Youngsan).”

About 1,000 civilians and representatives of the public sector, companies, and universities participated in the day’s event, which was held on the third floor of Yongsan Electronics Shopping   Center. Major VIPs of 16 institutions, including Seoul Mayor Park Won-soon, Yongsan District Mayor Sung Jang-hyun, the University of Seoul President Won Yun-hi, CJ OliveNetworks CEO Lee Kyung-bae, and Seobu T&D Chairman Seung Man-ho, also participated and signed the MOU for mutual cooperation for the urban restoration of the Yongsan Electronics Shopping Center.

CJ OliveNetworks will conduct software coding education for the children and youth of marginalized classes living in the Yongsan area, two to three times a week until November, as part of the MOU to thus actively join efforts made to transform Yongsan.

As part of the MOU, CJ OliveNetworks has upgraded the Software (SW) Creative Camp it manages as a corporate social contribution program into a social contribution activity linked with the local community. The company thus plans to actively support the development of the area without fail. One can submit applications for participation in the program through the official website of this urban restoration project (

The company also plans to manage a business startup network program utilizing its youth start-up community, “Hubpot (,” to actively join efforts made to vitalize youth business startups in the Yongsan area.

 “We will utilize the current MOU to devise various cooperation measures to support business startups and IT creative education so that the Yongsan Electronics Shopping Center area would be transformed into a future-oriented city based on the electronics industry,” said Jin Yang-hui, the head of CSV (Creating Shared Value) team in CJ OliveNetworks. (End)