A culture venture complex has opened in Seoul with the aim of serving as a base for creating cultural content and promoting Korean culture abroad.  
 
In the opening ceremony Tuesday, President Park Geun-hye expressed hope that the Creative Economy Leader (CEL) Venture Complex will lead efforts to further develop the culture and content industries and create new business opportunities, becoming the national economy’s heart.
 
The president also said the nation needs new growth engines, which push forward the existing growth paradigm.
 
Housed in the building formerly used by the Korea Tourism Organization in Jung-gu, Seoul, the CEL Venture Complex offers business support to promising start-ups in the culture sector, such as the provision of offices and assistance to launch products, attract investment and develop overseas markets.
 
A select group of 93 companies will move into the complex by the end of the year, receiving various benefits, including two years rent-free and discounted maintenance fees.