300 Billion Invested in 'Yongin Technovalley' to be Completed on the 22nd... 6,700 New Jobs Created

[Asia Economy (Yongin) = Reporter Lee Young-gyu] Yongin Techno Valley, the first large-scale industrial complex in the Yongin area of Gyeonggi Province, was completed on the 22nd. Although it has been 12 years since the district was designated and the development plan was approved in June 2008, Yongin City decided not to hold a separate completion ceremony considering COVID-19 and other factors.

On the day, Mayor Baek Gun-gi of Yongin visited Yongin Techno Valley, toured the workplaces of companies such as Dongwon Furniture Co., Ltd. and Fresh Easy Co., Ltd. located in the industrial complex, and encouraged the officials.

At the event, Mayor Baek said, "Yongin Techno Valley is positioned along the line connecting SK Hynix's semiconductor cluster, Lam Research's technology center, a global semiconductor etching equipment company, and Platform City, which will become the city's economic downtown." He expressed expectations, saying, "Together with Deokseong 2 Industrial Complex, it will play a significant role in the city's growth as a corporate city."

Yongin Techno Valley, developed on an area of 843,420 square meters around 620-1 Deokseong-ri, Idong-eup, Cheoin-gu, involved an investment of about 300 billion KRW.

The city established a special purpose company jointly with Hanwha Urban Development Co., Ltd. and Hanwha Construction Co., Ltd. in 2015 and began construction of the industrial complex in 2016.

In this industrial complex, 119 companies signed sales contracts, among which 13 companies including Fresh Easy Co., Ltd., Dongwon Furniture Co., Ltd., and Rozen Cheese & Food Co., Ltd. are already operating factories. Thirty-four companies, including Buguk TNC Co., Ltd., have obtained building permits and are constructing factories.

The city approved land use before the completion of the industrial complex so that companies could move in at their desired time. Additionally, a dedicated consultation desk for Yongin Techno Valley acquisition tax reporting was opened inside the Cheoin-gu Office, with dedicated officials assigned to actively support companies.

When all 119 companies move into Yongin Techno Valley, it is expected to create employment for about 6,700 people and increase annual production by approximately 2.2 trillion KRW.

Building on the success of Yongin Techno Valley, the city is also promoting the development of Deokseong 2 Industrial Complex, which will serve as the second Yongin Techno Valley, in cooperation with the Hanwha Urban Development consortium nearby.

Yongin Techno Valley and Deokseong 2 Industrial Complex are located less than 10 km in a straight line from the SK Hynix semiconductor cluster to be developed in Wonsam-myeon, Cheoin-gu, and are expected to form the central axis of development not only for the southern Yongin area but also for the southern metropolitan area.

This content was produced with the assistance of AI translation services.