1.5 Million KRW per Pyeong.. Land Supply for Daejeon 'Gwahak Belt'

[Asia Economy Reporter Junho Hwang] The government will supply 22 plots totaling 155,000㎡ located in Dungok-dong, Yuseong-gu, Daejeon Metropolitan City, to excellent science and technology companies and research institutes at about 1.5 million KRW per pyeong.

The Ministry of Science and ICT announced that starting from the 10th, it will proceed with the 4th supply of industrial and research land in the Dungok-dong hub district of the International Science Business Belt (hereinafter referred to as the Science Belt).

Due to the economic downturn caused by the novel coronavirus disease (COVID-19), the Ministry of Science and ICT decided to supply the land scheduled for the second half of this year in this month. The government plans to attract about 130 companies and research institutions in 11 advanced industries to the Science Belt by 2022. So far, through a total of three rounds of supply, 55 advanced companies and 3 public institutions have moved in.

This supply land consists of 15 industrial plots and 7 research plots and will be supplied at cost price (about 1.5 million KRW per 3.3㎡) to attract excellent companies and research institutes.

Among the companies residing in the Science Belt, those eligible for tax reduction can receive exemptions or reductions on corporate tax, acquisition tax, property tax, etc. Companies that meet the support conditions under Daejeon City ordinances and Ministry of Trade, Industry and Energy notices are also provided with support benefits such as location subsidies, facility investment subsidies, and employment subsidies.

Companies or research institutions wishing to move in can prepare for the residency screening from the 10th and apply for land purchase on the 24th.

Choi Doyeong, head of the Science Belt Promotion Team at the Ministry of Science and ICT, stated, "We are doing our best to attract excellent companies with innovative capabilities, and we will strive to make the Science Belt a hub for science-based innovative growth."

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