5.9 Trillion Won 'Yongin Platform City' Detailed Plan Released

[Asia Economy (Yongin) = Reporter Lee Young-gyu] The detailed development plan for the 'Yongin Platform City Development Project,' jointly promoted by Gyeonggi Province and Yongin City, has been unveiled.

On the 1st, Yongin City announced the Platform City land use plan, which involves investing a total project cost (based on development cost) of 5.9646 trillion KRW to create a complex self-sufficient city combining advanced industry, commerce, residential, cultural, and welfare spaces across 2,757,000㎡ (approximately 830,000 pyeong) in Bojeong, Mabuk, and Singal-dong areas of Giheung-gu, Yongin City.

The Gyeonggi Urban Innovation Corporation will invest 4.7555 trillion KRW, accounting for 95% of the maximum cash requirement (5.0058 trillion KRW), while the remaining 5% (250.3 billion KRW) will be borne by Yongin Urban Corporation.

Gyeonggi Province, Gyeonggi Urban Innovation Corporation, Yongin City, and Yongin Urban Corporation plan to complete administrative procedures such as approval of the implementation plan by early 2022, start construction in 2023, and complete the project by December 2028.

Reviewing the Platform City development plan, the project site will be developed into 360,000㎡ of residential land accommodating 11,088 households, 1,580,000㎡ of urban infrastructure land including advanced industrial land, commercial land, and park green spaces, and 150,000㎡ of complex land for core facilities.

The complex land will include the 'Yongin Plex,' a complex transfer center that will serve as a key transportation hub in the southern metropolitan area, equipped with a hotel, convention center, cultural facilities, and a complex shopping mall.

Within the urban infrastructure land, the advanced industrial land (440,000㎡) will retain GC Green Cross and attract advanced companies and research facilities focused on information technology (IT) and biotechnology (BT) along the central park.

Road and park plans have also been prepared to minimize congestion within the city center and provide a pleasant road environment.

An interchange for the Gyeongbu Expressway will be installed in the Bojeong-dong area, and an underground road bypass will be constructed for the heavily congested section between Pungdeokcheon Intersection and Jukjeon Intersection.

Additionally, underground roads will be built on Sinsu-ro and Yonggu-daero, and autonomous buses, smart personal mobility devices, and bicycle paths will be introduced within Platform City.

Some sections of the Gyeongbu Expressway will be covered to create parks and plazas on top.

Yongin City will conduct a public inspection to gather citizens' opinions on this development plan until the 15th. Following this, a public hearing will be held at 2 p.m. on the 16th at the Yongin Lifelong Learning Center.

Baek Gun-gi, Mayor of Yongin City, emphasized, "Gyeonggi Yongin Platform City will become a core city in southern Gyeonggi that creates new 100-year growth engines for Yongin. We will develop it into a premium city by utilizing it as one of the two major axes along with the semiconductor cluster."

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