Paju Medical Cluster Compensation Payments Begin... On Track for Construction Start Within the Year

Kim Kyung-il: "We Will Lay the Foundation for Paju to Become a Leading Bio-Health Hub in Northern Gyeonggi Province"

Paju City, Gyeonggi Province (Mayor Kim Kyung-il) announced on the 20th that the payment of compensation for land and fixtures amounting to 170 billion KRW for the Paju Medical Cluster development project began on the 19th.

On April 26, 2023, the site briefing session for the Paju Medical Cluster Development Project was held. Provided by Paju City.

The Paju Medical Cluster is a large-scale development project to create a comprehensive hospital and facilities such as the National Cancer Center Future Innovation Center, the Innovative Medical Research Complex, and the Bio Convergence Complex on approximately 136,000 pyeong of land at 432 Seopaedong.

Despite the worst construction market downturn caused by recent rises in material and labor costs and interest rate hikes, the project gained momentum after HDC Hyundai Development Company was confirmed as the contractor in November and the project modification approval (implementation plan authorization) was granted in December. The project accelerated rapidly with the commencement of land compensation on the 19th.

Aerial view of Paju Medical Cluster. Provided by Paju City.

Paju City plans to complete land acquisition by the first half of 2025, start site development construction, and complete the recruitment of a comprehensive hospital within the year.

Mayor Kim Kyung-il of Paju said, “We thank the landowners who actively cooperated and understood despite the adverse conditions of the real estate market downturn,” and added, “We will successfully lead this project to establish a foundation for Paju City to leap forward as a bio-health hub city in northern Gyeonggi Province.”

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