Establishment of Semiconductor Cluster in 3rd Pangyo and Yongin Platform City... Creation of 13,000 Jobs

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province is establishing a semiconductor cluster for attracting advanced semiconductor companies and fostering specialized personnel in Seongnam's '3rd Pangyo Techno Valley' and Yongin's 'Gyeonggi Yongin Platform City.'

The 3rd Pangyo Techno Valley is a cluster linking the strengths of the 1st and 2nd Pangyo Techno Valleys in information technology (IT), biotechnology (BT), culture technology (CT), nanotechnology (NT), artificial intelligence (AI), autonomous driving, and semiconductors. A total project cost of 1.3756 trillion KRW has been invested, with construction starting in 2018 and completion targeted for 2024.

Gyeonggi Yongin Platform City is a new economic city introducing various functions such as the Metropolitan Area Express Railway (GTX) and Bundang Line complex transfer center, advanced industries, commerce, and culture. With a project cost of 6.2851 trillion KRW, groundbreaking began in 2019, and construction is scheduled to be completed by 2029.

On the 21st, Gyeonggi Province, together with Seongnam City, Yongin City, Korea Land and Housing Corporation, Gyeonggi Housing and Urban Corporation (GH), and Yongin Urban Corporation, announced the 'Plan for Creating Dedicated Semiconductor Spaces in the 3rd Pangyo Techno Valley, Global Business Center, and Gyeonggi Yongin Platform City.'

According to this creation plan, the province will first attract research and development (R&D) facilities for system semiconductor core sectors such as fabless (design), foundry (contract manufacturing), and materials, parts, and equipment companies on 33,000㎡ (10,000 pyeong) of the self-sufficient facility land, a portion of the total 583,000㎡ area of the 3rd Pangyo Techno Valley to be established in 2024.

The province also plans to allocate 16,000㎡ (5,000 pyeong) of the total floor area of 95,000㎡ in the 2nd Pangyo Global Business Center, which will open in February next year, as a priority semiconductor occupancy space.

Furthermore, in Gyeonggi Yongin Platform City, out of the total area of 2,757,000㎡, 99,000㎡ (30,000 pyeong) of industrial facility land within the urban advanced industrial complex will be secured to create a dedicated semiconductor materials, parts, and equipment cluster capable of semiconductor R&D through manufacturing processes.

Through this industrial agglomeration, the province expects to create employment for about 13,000 people, with 6,997 jobs in the 3rd Pangyo Techno Valley and Global Business Center, and 6,072 jobs in Gyeonggi Yongin Platform City.

In addition, when supplying the 3rd Pangyo Techno Valley to companies, the province is considering a method where public entities such as Gyeonggi Housing and Urban Corporation directly build and then sell or lease, rather than simple sales. This is a measure to block excessive real estate development profits by the private sector and strengthen the public interest of public development projects.

The province believes that through this public direct construction method, it will be possible to provide affordable occupancy spaces to more promising and startup companies despite rapidly changing real estate prices. To review this plan, the province is conducting a strategy establishment project for activating self-sufficient facility land in the 3rd Pangyo Techno Valley until February next year.

Hong Ji-seon, Director of the Urban Housing Office of the province, said, "We will secure more future growth engines by creating a semiconductor cluster in the Pangyo and Yongin areas," adding, "We will also strive to ensure public interest in land supply plans and other aspects."

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