91% of Companies in Pangyo Techno Valley Are 'High-Tech'... Last Year's Sales Reach 120 Trillion Won

Status of Industries of Companies Located in Pangyo Techno Valley Graphic provided by Gyeonggi Provincial Government

[Asia Economy (Seongnam) = Reporter Lee Young-gyu] Among the 1,642 companies located in Pangyo Techno Valley, Seongnam, Gyeonggi Province, 91.2% are in high-tech industries, and 87% are small and medium-sized enterprises (SMEs). The total sales revenue of these resident companies last year was recorded at 120.8 trillion KRW.

According to a survey conducted by Gyeonggi Province, the Gyeonggi Economic Science Promotion Agency, and the Gyeonggi Housing and Urban Corporation (GH) from July to November targeting companies in the 1st and 2nd Pangyo Techno Valleys, there were a total of 1,642 resident companies, of which 87% were SMEs. Mid-sized companies accounted for 7.4%, and large companies 4.2%.

In the 1st Pangyo, SMEs made up 84.4%, mid-sized companies 9.3%, and large companies 5.3%. Compared to last year's figures of 85.5% SMEs, 7.5% mid-sized, and 4.8% large companies, the proportion of SMEs decreased while mid-sized and large companies increased.

In the 2nd Pangyo, among the total 365 companies, SMEs accounted for 96.5% of all companies.

The 2021 sales revenue of companies in the 1st and 2nd Pangyo Techno Valleys was 120.8 trillion KRW, with the 1st Pangyo accounting for 119.7 trillion KRW (99%), an overwhelming majority. This represents about a 10% increase compared to the 109.9 trillion KRW sales in 2020.

In particular, the biotechnology (BT) sector recorded sales of 14.8 trillion KRW, a 59% increase from 9.3 trillion KRW the previous year, influenced by COVID-19 diagnostic kits and related products.

By industry, information technology (IT) accounted for 66.8%, biotechnology (BT) 14.4%, cultural content technology (CT) 10%, and nanotechnology (NT) 1.1%, with high-tech industries making up about 91.2% of the total. Compared to the previous year, IT increased by 2.2%, BT by 1.0%, while CT decreased by 3.0%.

The number of regular employees was 73,443, a 2.0% increase from 71,967 the previous year. The main age group was those in their 30s and 40s, numbering 49,653, accounting for 67.6%. Among all employees in Pangyo Techno Valley, researchers made up 36.2% (26,606 people), female employees 28.9% (21,290 people), and new hires 17.8% (13,103 people), all showing increases compared to the previous year.

Types of Companies Located in Pangyo Techno Valley Graphic provided by Gyeonggi Provincial Government

The province plans to use the results of this survey to improve the efficiency of complex operations and to establish economic policies.

Kim Hyun-dae, Director of Future Growth Policy at the province, stated, "The 1st and 2nd Pangyo Techno Valleys will be linked to provide a better environment for resident companies. Based on the results of this survey, we will operate the 1st and 2nd Pangyo Techno Valleys and listen closely to the voices of resident companies to promote various support policies."

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