4500 Households Move In as Development of 'Gwangmyeong Hakon Public Housing District' Gains Momentum

Aerial View of Gwangmyeong Hag-on Public Housing District

[Asia Economy (Suwon) = Reporter Lee Young-gyu] A residential complex with 4,500 households will be developed in the Hakwon-dong area of Gwangmyeong, Gyeonggi Province.

Gyeonggi Urban Innovation Corporation announced on the 26th that it has received district designation approval from the Ministry of Land, Infrastructure and Transport for the 'Gwangmyeong Hak-on Public Housing District,' part of the metropolitan area's plan to supply 300,000 housing units.

The Gwangmyeong Hak-on Public Housing District serves as a residential complex supporting the Gwangmyeong-Siheung Technovalley project, which consists of four developments. The Gwangmyeong-Siheung Technovalley is a project investing 2.4 trillion KRW by 2024 to develop four complexes?urban high-tech industrial complex, general industrial complex, distribution complex, and residential complex?across 2.45 million square meters in Gahak-dong, Gwangmyeong City, and Nongok-dong and Mujinae-dong, Siheung City.

Gyeonggi Urban Innovation Corporation will invest a total of 900 billion KRW to supply 4,500 housing units on a 680,000 square meter site in the Hak-on-dong area. These complexes will serve as residential areas for workers in the nearby Gwangmyeong-Siheung Technovalley and for the resettlement of original residents. The corporation is aiming to obtain district plan approval next year to advance the project.

The corporation plans to develop the housing complex around the newly established station of the Sinansan Line, scheduled to open in 2024, creating a pedestrian-centered specialized space with parks and green corridors.

Lee Heon-wook, president of Gyeonggi Urban Innovation Corporation, stated, "Based on the abundant housing demand of the Gwangmyeong-Siheung Technovalley, we will supply high-quality public housing applying a live-work proximity urban model to help the area become the center of the 4th industrial revolution in the southwestern metropolitan area."

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