Siheung Baegot District to Develop Unmanned Mobility Research Complex with 1.6681 Trillion Won Investment

Siheung Baegot District Bird's-eye View

[Asia Economy (Pyeongtaek) = Reporter Lee Young-gyu] The Baegot District in Siheung, Gyeonggi Province, has been additionally designated as part of the Hwanghae Free Economic Zone. Being designated as a free economic zone provides benefits such as tax reductions and deregulation, making it advantageous for attracting global companies.

According to the Gyeonggi Hwanghae Free Economic Zone Authority on the 3rd, the Ministry of Trade, Industry and Energy held a Free Economic Zone Committee meeting that day and additionally designated the Siheung Baegot District as part of the Hwanghae Free Economic Zone.

The Hwanghae Free Economic Zone, since its establishment in 2008, has been reduced to about 7.9% of its initially designated area, making it urgent to secure new growth engines through economies of scale and the establishment of a new industry ecosystem. Accordingly, last September, the province applied to the Ministry of Trade, Industry and Energy for the additional designation of four free economic zone districts (Siheung Baegot, Siheung Jeongwang, Gimpo Daegot, Ansan Daebu).

With this designation, the Siheung Baegot District will be developed into a land, sea, and air unmanned mobility research complex and a global education and medical complex cluster by 2027, with a total investment of 1.6681 trillion KRW over an area of 0.88㎢.

The phased project plan includes ▲Phase 1: core unmanned mobility research facilities by 2022 ▲Phase 2: residential environment and medical/bio cluster by 2025 ▲Phase 3: medical bio research cluster and landmark tower by 2027.

The Baegot District is equipped with various infrastructures necessary to foster the unmanned mobility industry of autonomous driving, considered the culmination of the 4th Industrial Revolution. Nearby universities include Seoul National University, Korea Polytechnic University, and Gyeonggi Science University, and within 5 km are national industrial complexes such as Siheung Smart Hub, Siwha MTV, and Banwol.

Additionally, a general hospital with 800 beds is being planned in cooperation with Seoul National University Hospital.

The Hwanghae Free Economic Zone Authority expects that once the Baegot District is activated, it will create employment for about 16,000 people and have an economic ripple effect of 7 trillion KRW.

Yang Jin-cheol, head of the Hwanghae Free Economic Zone Authority, emphasized, "Although the Hwanghae Free Economic Zone is the smallest among the seven free economic zones nationwide, the confirmation of the additional designation of the Siheung Baegot District will enable us to secure economies of scale. We will use this opportunity to develop it into a global hub for new growth engine industries in the West Coast era."

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