Gyeonggi Province discusses attracting investment in high-tech industries in Ilsan, Yangju, and Yongin Techno Valley

We discussed ways to attract excellent companies, including high-tech industries, to the three Gyeonggi Techno Valleys that Gyeonggi Province is promoting.

On the 24th, Gyeonggi Province held a ‘Gyeonggi Techno Valley Enterprise’ event at the Provincial Office, presided over by Oh Se-hyun, head of the Urban Policy Division, with the head of the Gyeonggi Province Investment and Trade Division, Yongin Platform City, Goyang Ilsan Techno Valley, Gyeonggi Yangju Techno Valley project implementers, and related officials from the corporate investment and attraction department in attendance. A meeting to promote investment and attraction was held.

The province is currently preparing a plan to attract excellent companies to three techno valleys, including Ilsan Techno Valley (bio and medical), Yangju Techno Valley (display and mobility), and Yongin Platform City (advanced companies in the artificial intelligence and semiconductor fields).

In order to secure a competitive advantage in attracting companies, the attendees of the meeting ▲(Land supply) promoted the designation of national high-tech strategic industrial complexes in urban development zones and overlapping designation of urban high-tech industrial complexes to supply industrial facility sites at the level of construction costs through private contracts ▲(Public) Establishment of a support center) Growth and support for ventures and startups by expanding facilities, equipment, and research facilities that can be jointly used by companies within and outside the cluster ▲(Others) Industry-academic-research cooperation and overseas expansion programs, corporate growth consulting support, We decided to strive to create a favorable environment for companies to invest, including supporting taxation and infrastructure installation, attracting talent and improving residential conditions, providing financial support to promising companies in clusters, and improving location and environment that impede corporate investment and complex administrative procedures.

Even after signing an MOU (business agreement) with a company or receiving an LOI (letter of intent to invest), there are cases where the investment does not lead to actual investment, such as giving up or postponing the investment. Therefore, we provide continuous communication and cooperation with the company, investment attraction management, and investment management to lead to actual investment. We plan to engage in active investment attraction activities, including preparing follow-up management plans.

Oh Se-hyun, Gyeonggi-do Urban Policy Department Director, said, “High-tech industries are the driving force of innovation for continuous economic growth and the foundation for creating quality jobs, and in order to respond to the intensifying competition to attract companies, it is necessary to focus on corporate investment support policies such as taxation and finance.” He said, “We will focus all of Gyeonggi Province’s capabilities on attracting companies so that Gyeonggi Techno Valley can leap forward into a global cluster with world-class competitiveness.”

Meanwhile, Goyang Ilsan Techno Valley is an urban development project jointly developed by Gyeonggi Province, Goyang City, Gyeonggi Housing and Urban Corporation, and Goyang City Management Corporation in the area of ​​Daehwa-dong, Ilsanseo-gu, Goyang-si, with an area of ​​approximately 872,000 m2 (260,000 pyeong). A project cost of approximately 850 billion won will be invested to create a location foundation to attract innovative companies in the bio/medical, media/content, and high-tech manufacturing fields. It is being promoted with the goal of completion in 2026.

Gyeonggi Yangju Techno Valley is jointly implemented by Gyeonggi Province, Yangju City, and Gyeonggi Housing and Urban Corporation. It will be built on a site of approximately 218,000 m2 (66,000 pyeong) in Majeon-dong, Yangju-si, and is the largest single urban high-tech industrial complex in northern Gyeonggi Province. A total project cost of 110.4 billion won was invested, and the project is scheduled for completion in 2026.

Gyeonggi Yongin Platform City is implemented by Gyeonggi Province, Yongin City, Gyeonggi Housing and Housing Corporation, and Yongin Urban Development Corporation. A complex self-sufficient city is planned to be created on approximately 2.76 million m2 (830,000 pyeong) in Bojeong-dong, Mabuk-dong, and Singal-dong, Giheung-gu, Yongin-si, incorporating various functions such as the Seoul Metropolitan Rapid Transit (GTX) and Bundang Line complex transfer center, high-tech industry, commerce, and culture. The goal is to start construction at the end of 2024.