Hanwha Solutions Accelerates Development of Specialized Industrial Complex for Semiconductor and Automotive Parts

Hwaseong-si, H-Techno Valley Plan Approved
74ha Public-Private Joint Development by 2027

Hanwha Solutions is establishing ‘H-Techno Valley,’ a semiconductor and automotive parts specialized complex, in Hwaseong City, a key hub in the southern metropolitan area. By 2027, it will invest 380 billion KRW through a public-private joint development to create a new cradle for Korea’s materials, parts, and equipment industry.

H-Techno Valley aerial view. Photo by Hanwha Solutions

Hanwha Solutions announced on the 19th that Hwaseong City approved and officially announced the general industrial complex plan for H-Techno Valley on the 14th of this month. H-Techno Valley is an industrial complex planned to be developed in Yodang-ri, Yanggam-myeon, Hwaseong City, Gyeonggi Province. Semiconductor and automotive parts specialized companies are expected to move into the approximately 740,000㎡ site.

With the industrial complex plan approved, Hanwha Solutions will officially start the project in the second half of this year with land compensation and preliminary subscription. Aiming for completion in 2027, civil engineering work and land sales will begin next year. Before the sales, over 100 companies have already submitted letters of intent to move in, amounting to about 200% of the total industrial facility land area.

H-Techno Valley is geographically adjacent to the semiconductor clusters in Dongtan, Hwaseong, and Godeok, Pyeongtaek, as well as the Yellow Sea region’s future automotive cluster, and is expected to become a key industrial complex for Korea’s semiconductor and automotive parts sectors in the future.

The establishment of H-Techno Valley is expected to create over 7,000 jobs, induce a production effect of 2.3 trillion KRW, and generate an added value effect of 920 billion KRW, significantly contributing to the development of Hwaseong City and the regional economy.

A representative from Hanwha Solutions’ Insight Division stated, “We plan to do our best to proceed with the project promptly in cooperation with Hwaseong Urban Corporation,” adding, “We will present a smart industrial complex optimized for corporate management.”

Meanwhile, Hanwha Solutions signed a business agreement with Hwaseong Urban Corporation in 2019 to promote the project and jointly invested in the special purpose corporation (SPC) H-Techno Valley Co., Ltd. in 2021. Hanwha Solutions and Hwaseong Urban Corporation hold 80% and 20% of the shares respectively, and the total project cost of H-Techno Valley amounts to 380 billion KRW.

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