Korea''s innovation cluster policy has been promoted in earnest since 2005 with the aim of balanced regional development. In each region, companies, universities, research institutes, and enterprise support organizations are planned to be spatially integrated and functionally linked based on core industries. The purpose of this study is to investigate the factors affecting the sustainability of innovative cluster firms. For this purpose, we selected Pangyo Techno Valley, which has been recognized as one of the most successful innovation clusters in Korea. The Pangyo Techno Valley was built under the leadership of the municipal government (Gyeonggi Province) rather than the central government. It is called "Silicon Valley in Korea" and "Silicon Valley in Asia" and is becoming more representative. Pangyo Techno Valley presented the benefits of paper prices in the early stage of development, attracting a large number of companies in the metropolitan area, and achieved cumulative sales of 79.3 trillion won by 2017. The reason for choosing Pangyo Techno Valley, which is growing at present, is the decrease in the number of companies moving in 2017 compared to 2016, and the issue of changing the business ecosystem of Pangyo Techno Valley from 2019. It is an issue of real estate resale. For the companies that received the paper supply benefit, the 10-year resale and restricting restrictions were applied. As a result, Pangyo Techno Valley maintained tenants and maintained IT convergence sector. The cancellation of real estate monopoly is a problem in which the tenant company owns the sheet and the building and realizes the profit by applying the value of the real estate that has increased with the growth of Pangyo.
In this paper, quantitative research and qualitative research were integrated to investigate the factors affecting the sustainability of the Pangyo Techno Valley tenant companies. In quantitative research, regression analysis methodology was applied. In qualitative research, grounded theory methodology was applied. In the quantitative study, factors affecting sustainability of Pangyo Techno Valley were investigated. In qualitative research, specific reasons and additional factors of quantitative research results were investigated. Factors affecting sustainability are composed of changes in internal conditions, human and physical infrastructure, support of local governments, cooperation and synergy, and type of occupation type through literature research. The category of innovative cluster image is additionally presented in qualitative research results. The end result of this study is to integrate the quantitative research on sustainability and the qualitative research results and suggest various influential factors for each category. There were no factors influencing the results of the quantitative research in the local government support. In addition, factors such as changes in internal conditions, human and physical infrastructure, cooperation, and synergy are derived from quantitative research and qualitative research, respectively. The results showed that the type of tenure type had a significant effect on the quantitative research. The quality cluster of innovation cluster suggested the factors that positively influence the sustainability of the Pangyo cluster. In interviews on sustainability, the companies in Pangyo Techno Valley are generally satisfied, and there is currently no plan to relocate to another region even if the real estate sale system is lifted. However, it is said that it is possible to sell or transfer the real estate at the request of the shareholders for a few years due to the deterioration of management, and the leasing company is concerned about the transfer to another area every time the contract is renewed. However, it has been shown that companies are taking a passive stance and expecting the role of municipalities for the activation of cooperative network-based ecosystems that innovation clusters need for long-term survival. Therefore, in this paper, it is suggested that the Pangyo Techno Valley needs to understand precisely the conditions of tenant companies, to consider the types of tenure of tenant companies and leasing companies, to support differentiated support policies for start-up enterprises, And an ideal solution.