Additional Supply of 'Support Facility Land' in Pyeongchon District, Daejeon

Aerial view of the Daedeok Pyeongchon District Urban Development Project site. Provided by Daejeon City

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City announced on the 4th that, together with Daejeon Urban Corporation, it will additionally supply the remaining plots of ‘support facility land’ in the Daedeok Pyeongchon District urban development project.

The supply of the remaining plots will be conducted through competitive bidding starting with the sale announcement on the same day. The remaining plots consist of 4 parcels with a total supply area of 3,796㎡.

The sale price is an average of 3,432,000 KRW per 3.3㎡, with a maximum building height of 7 floors or less, a building coverage ratio of 60% or less, and a floor area ratio of 350% or less. Types 1 and 2 neighborhood living facilities and sales facilities can be constructed.

Applications for sale (participation in competitive bidding) are available on Onbid from the 11th to the 13th of this month. Earlier, to reduce the economic burden on tenants, the city signed land sale payment loan agreements with six financial institutions including NongHyup, Small and Medium Business Bank, Hana Bank, Shinhan Bank, Woori Bank, and Kookmin Bank since May last year.

Through this, it is possible to repay the loan in installments as contract payment, intermediate payments (5 times), and balance based on 3 years with 6 installments (interest-free) after the loan from the respective banks.

Additionally, the relocation of the Daejeon Railroad Vehicle Technology Group’s inbound railway, which previously blocked the Pyeongchon District, to the outskirts of the city, and the planned designation of the Pyeongchon District as a specialized cluster for root industries are expected by the city to be advantageous for bidding participation.

For more detailed information regarding the supply of the remaining plots, please check the websites of Daejeon City Hall and Daejeon Urban Corporation.

Meanwhile, the Daedeok Pyeongchon District urban development project is being promoted with a budget of 89.9 billion KRW to supply new industrial facility land for the creation of an eco-friendly mold industry specialized cluster on a 201,017㎡ area in Pyeongchon-dong, Daedeok-gu, and to supply support facility land to assist efficient production activities of resident companies.

The area currently on sale in Sintanjin-dong is scheduled to be completed in June of the first half of next year.

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