| Title |
Analysis of Changes in Surrounding Station Areas Following the Development of Pangyo Techno Valley |
| Authors |
권오주(Kwon, O-Ju) ; 양승우(Yang, Seung-Woo) |
| DOI |
https://doi.org/10.5659/JAIK.2026.42.6.239 |
| Keywords |
Innovation cluster; Pangyo Techno Valley; Spatial diffusion; Difference-in-Differences; Event study; Station area |
| Abstract |
This study examines how the development of Pangyo Techno Valley, a major innovation cluster, has affected local economic activity and
urban spatial structure in surrounding station areas. A region-level panel dataset was constructed for station areas in Seongnam City and
Bundang District covering the period from 2010 to 2023. Treatment and control groups were defined using a spatial boundary consisting of a
7 km radius and a 20-minute travel-time living zone centered on the Startup Campus building in Pangyo Techno Valley. The main outcome
variables include the number of employees, establishments, and floating population in station areas. The analysis applies a
Difference-in-Differences (DID) model and an event-study approach. The results show that employment, establishments, and floating population
in nearby station areas increased significantly after the development of Pangyo Techno Valley compared with control areas. The event-study
analysis indicates that these effects expanded gradually over time, suggesting cumulative economic impacts rather than a short-term shock.
Spatially, the effects first appeared in areas close to Pangyo and then diffused outward to surrounding station areas. Overall, the findings
reveal a mixed diffusion structure combining contagious diffusion, hierarchical diffusion, and functional diffusion. |