NCsoft – Korean gaming giant is buying massive parking lot to build a new R&D center

According to several Korean news outlets, gaming giant NCsoft is in the process of purchasing a massive temporary parking lot in Pangyo, Seongnam, as seen in the photo below. NCsoft plans to build a “global R&D innovation center” the location, which is expected to cost around 700 million USD (just for the land itself). The size of the lot is reportedly 25,719.9㎡. Interestingly, land owner Seongnam City held three public offerings from December to March to sell the site, but there were no bidders. NCsoft only made a bid this April after forming a powerful consortium with several partners such as Samsung C&T.