Osan-si and Booyoung Group Join Hands to Develop 'Osan Station Area Complex'

Cooperation for Revitalization of Kaesung Paper Site and More

Osan City in Gyeonggi Province and Booyoung Group have joined hands to create a complex district around Osan Station area.

On the 5th, Osan City and Booyoung Group held a 'Business Agreement Ceremony for the Creation of a Complex District Centered on Osan Station in Southern Gyeonggi' at Osan City Hall, attended by Osan Mayor Lee Gwon-jae and Booyoung Group Chairman Lee Hee-beom, among others.

Osan Mayor Lee Gwon-jae (left) and Booyoung Group Chairman Lee Hee-beom are holding up the agreement at the 'Business Agreement Ceremony for the Development of Osan Station Area Complex' held at City Hall on the 5th.
[Photo by Osan City]

The core of this business agreement is the revitalization of the former Gyesung Paper site in Osandong 637, located on the west side of Osan Station. This site, measuring 112,422㎡, was purchased by Booyoung Group in 2011 but has remained undeveloped for 13 years without a proper development plan.

Osan City plans to develop a large-scale complex district with business, commercial, and residential functions centered around the Gyesung Paper site near Osan Station. The city especially expects that with the current metropolitan subway service, the addition of KTX stops from Suwon, the GTX (Great Train Express) Line C, and urban tram lines, Osan Station will be reborn as a 'quadruple station area.'

Mayor Lee said, "If Booyoung Group creates a landmark representing Osan on the long-neglected Gyesung Paper site, the urban value of Osan will definitely increase." Chairman Lee also responded, "Since Mayor Lee is running the city administration with a business-friendly and ambitious approach, I believe urban development will surely be achieved."

Previously, Osan City has been actively discussing the utilization plan for the Gyesung Paper site with Booyoung Group since last year. In March and December of last year, Mayor Lee personally visited Booyoung Group’s headquarters in Seoul to discuss this issue with Chairman Lee Joong-geun. The city and Booyoung Group plan to intensify concrete discussions for site development following this business agreement.

Meanwhile, since the 8th local government term began, Osan City has been accelerating large-scale urban development. The 'Unamtteul AI City' urban development project, which includes a large-scale advanced knowledge center and an e-sports arena on approximately 580,000㎡ near Osan IC on the Gyeongbu Expressway, recently received approval for a public-private partnership agreement from Gyeonggi Province and passed the public interest review by the Central Land Expropriation Committee.

In July last year, Osan City signed a business agreement with the Ministry of National Defense to create a semiconductor-specialized complex on the Osan Reserve Forces Training Center site. In September of the same year, it also signed a business agreement with the Korea Land and Housing Corporation (LH) for revitalizing the terminal site in Segyo 1 District, early completion of infrastructure in Segyo 2 District, and creating a semiconductor materials, parts, and equipment specialized complex.

In July last year, Osan City directly purchased the Osan Reserve Forces Training Center site and collaborated with the Ministry of National Defense to develop a semiconductor specialized complex through a business agreement.

Recently, the launch of Osan Urban Corporation has also become visible. The city council, which had previously opposed the establishment of the corporation, passed a proposal in the plenary session last December to invest 9.9 billion KRW as capital for the corporation.

Mayor Lee said, "The goal of Osan City in the 8th local government term is to develop a smaller city more substantively compared to other local governments and to break away from its outdated image," adding, "If there are companies willing to cooperate for public urban development in the future, we will always cooperate with an open mind."

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