'Semiconductor Belt Effect Seen' Yongin Cheoin-gu Official Land Price Jumps 4.84%

Twice Higher Than Yongin City's Average of 2.93%
Giheung-gu Also Rises by 3.31%

The official land price of standard land sites in Cheoin-gu, Yongin-si, Gyeonggi-do, where large-scale semiconductor factories of Samsung Electronics and SK Hynix are being established, rose by 4.84%.

Yongin City announced on the 26th that the official land price of the city’s standard land sites for this year, announced by the Ministry of Land, Infrastructure and Transport on the 25th, increased by an average of 2.93% compared to the previous year.

Aerial view of the Advanced System Semiconductor National Industrial Complex candidate site in Idongnamsa, Cheoin-gu, Yongin.
[Photo by Yongin City]

In particular, Cheoin-gu rose by 4.84%. Cheoin-gu is the area where Samsung Electronics’ 'Advanced System Semiconductor National Industrial Complex' (Idong and Namsa-eup) and SK Hynix’s Yongin Semiconductor Cluster (Wonsam-myeon) are located.

The official land price of standard land sites

Previously, Cheoin-gu ranked first nationwide in land price increase with a 6.66% rise in last year’s 'annual land price change rate' announced on the 24th by the Ministry of Land, Infrastructure and Transport and the Korea Real Estate Board.

The Giheung-gu district, where Samsung Electronics’ Future Research Complex is being developed, also saw a high increase rate of 3.31%. On the other hand, Suji-gu’s increase rate was only 1.56%, below the city average.

The official land price of standard land sites is used as a basis for calculating individual land prices. It can be viewed on the Real Estate Price Disclosure website.

Landowners or others with objections can apply to the Ministry of Land, Infrastructure and Transport via the website or in writing by the 23rd of next month. Parcels with objections will be re-investigated and evaluated by the Ministry, reviewed by the Central Real Estate Price Disclosure Committee, and finally adjusted and announced on March 14.

A city official said, "Since the official land price is used as a basis for imposing various taxes and charges, and thus attracts high interest from landowners and stakeholders, we will do our best to ensure that the official land price is determined and announced fairly and transparently."

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