Growing Knowledge Industry Centers, Proximity to Subway Stations as a 'Box Office Guarantee'

Perspective view of 'Nollaum Magok' in Yangcheon-dong, Gangseo-gu, Seoul

[Asia Economy Reporter Tae-min Ryu] Recently, knowledge industry centers have been gaining attention from both end-users and investors.

According to the Korea Industrial Complex Corporation on the 15th, the number of newly approved knowledge industry centers last year reached 141, marking the highest number ever recorded. This is also interpreted as evidence of the growing popularity of knowledge industry centers.

Under the current system, companies moving into knowledge industry centers can receive acquisition tax and property tax reductions if they meet certain conditions such as new sales or purchasing sales rights. This also makes them an attractive option for investors, as no separate subscription savings account is required and they are relatively free from regulations such as resale restrictions.

With the increase in the supply of knowledge industry centers, experts advise paying attention to ‘stations near subway lines.’ An industry insider explained, “Recently, many young companies such as startups, ventures, and IT companies have been seeking knowledge industry centers, making proximity to subway stations an important selection criterion. As convenient commuting increases the proximity of residence and workplace, not only sales performance but also price appreciation tends to be high.”

In the industry, proximity to subway stations is already regarded as a ‘guarantee of success.’ For example, the recently sold-out ‘Guri Galmae Geumgang Pentarium IX Tower’ achieved complete sales. The success was largely due to the ‘triple station area’ benefits, including Gyeongchun Line Byeollae Station and Galmae Station, the extension of Seoul Metropolitan Subway Line 4, the GTX-B line scheduled to begin construction in 2022, and the Line 8 extension planned to open in 2023.

Accordingly, knowledge industry centers emphasizing the premium of proximity to subway stations have been continuously supplied recently. Lotte Construction is currently selling ‘Nollaum Magok’ at 40, Yangcheon-ro 47-gil, Gangseo-gu, Seoul, accessible via Yangcheon Hyanggyo Station on Seoul Subway Line 9 and Magoknaru Station on the Airport Railroad Line. The complex consists of 5 basement floors to 12 above-ground floors, with a total floor area of 30,711㎡, including 281 knowledge industry center units and 22 support facilities. This is the first launch center of Lotte Construction’s knowledge industry center brand ‘Nollaum’ and is adjacent to the ‘Magok District,’ where synergy effects are expected.

In addition, Daechang is selling ‘Siheung Maehwa Central M-Flex’ in Block A4-3 of Maehwa General Industrial Complex, Siheung-si, Gyeonggi Province, near Maehwa Station on the Sinansan Line and Wolgot-Pangyo Line. Seongji Construction and Samyang Construction Industry plan to sell ‘Pyeongtaek Majest Tower’ at 447-1 Mogok-dong, Pyeongtaek-si, Gyeonggi Province, between Jije Station and Seojeong-ri Station on Seoul Subway Line 1.

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