Gyeonggi Yongin Platform City, Easier to Attract Semiconductor Companies

Location Map of Gyeonggi Yongin Platform City

[Asia Economy (Suwon) = Reporter Lee Young-gyu] A path has opened to actively attract semiconductor companies to Gyeonggi Yongin Platform City.

Gyeonggi Yongin Platform City is a complex self-sufficient city development project introducing various functions such as the metropolitan area express railroad (GTX) and Bundang Line complex transfer center, advanced industries, commerce, and culture, located in Bojeong-dong, Mabuk-dong, and Singal-dong areas of Giheung-gu, Yongin-si, covering approximately 2.76 million square meters (830,000 pyeong). Construction is set to begin in 2024 with a completion target of 2029. The project is implemented by Gyeonggi Province, Yongin City, Gyeonggi Housing and Urban Corporation, and Yongin Urban Corporation.

On the 20th, Gyeonggi Province announced that the Ministry of Land, Infrastructure and Transport has promulgated and enforced a revision to the Enforcement Decree of the Industrial Location Act to enable the rapid sale and lease of industrial facility sites provided for national advanced strategic industries (semiconductors, displays, secondary batteries) within urban high-tech industrial complexes.

This revision reflects the province’s proposal for semiconductor industry agglomeration within Gyeonggi Yongin Platform City.

Previously, the province announced the 'Plan to Establish a Dedicated Semiconductor Space within Gyeonggi Yongin Platform City' to build a semiconductor cluster for attracting semiconductor companies and fostering specialized talent.

However, the supply method for industrial facility sites in urban high-tech industrial complexes within urban development zones like Gyeonggi Yongin Platform City was restricted to competitive bidding under the Urban Development Act, creating very unfavorable conditions for investment attraction.

To address this, the province proposed a legal amendment to the Ministry of Land, Infrastructure and Transport to establish an institutional foundation for industrial cluster formation, achieving significant progress with the enforcement of this revision.

According to the revised enforcement decree, when an urban high-tech industrial complex is designated in an area within an urban development zone that is designated as a national advanced strategic industry specialized complex, industrial facility sites can be supplied at cost through private contracts.

Meanwhile, the province recently conducted a demand survey targeting over 3,000 companies including those in the metropolitan and Chungcheong regions through the 'Study on Strengthening the Self-Sufficient Functions of Gyeonggi Yongin Platform City,' identifying 80 companies interested in moving in related to semiconductors and secondary batteries. Based on this, the urban development project implementation plan is currently being established.

The province plans to supply land to companies starting in 2026. To stabilize the lives of approximately 4,000 workers within Platform City, dormitories will be permitted as a use for industrial facility buildings, and plans to supply public rental housing to support local workers’ housing are also under consideration.

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