Goyang Ilsan Technovalley Land Sale Begins in Earnest... 20 Parcels Available Starting April 24

Up to 60% Acquisition Tax Reduction and Site Subsidies Offered
Land Sales Begin at Urban High-Tech Industrial Complex
Aiming to Become a Core Hub for Advanced Manufacturing

Goyang Special City in Gyeonggi Province (Mayor Lee Donghwan) announced on April 22 that the Goyang Ilsan Technovalley Urban High-Tech Industrial Complex, which is expected to become a key hub for the fourth industrial revolution in northern Greater Seoul, will officially begin its land sale process starting April 24.

The sale process for the ‘Goyang Ilsan Technovalley Urban High-Tech Industrial Complex’ has been launched. Provided by Goyang City

The Goyang Ilsan Technovalley is currently under development in Daehwa-dong, Ilsanseo-gu, Goyang, with completion targeted for December 2027. It is drawing attention as an advanced industrial innovation cluster that integrates knowledge-based facilities with high-tech manufacturing and research facilities.

The plots available for sale this time comprise a total of 20 parcels within the urban high-tech industrial complex of Goyang Ilsan Technovalley, amounting to 60,778 square meters (approximately 18,385 pyeong). The sale will proceed through a competitive bidding process based on appraised values. The city plans to focus on attracting outstanding manufacturing companies leading the bio-medical and media-content sectors.

In particular, the industrial complex is highly regarded for its location advantage, being adjacent to the wide-area GTX-A railway and major road networks, providing easy and fast access from anywhere in Greater Seoul and nationwide.

In addition, the city has prepared a variety of support programs to encourage investment and ensure the successful settlement of tenant companies.

According to the "Goyang City Investment Promotion Ordinance," companies investing in more than 3,300 square meters (1,000 pyeong) of industrial land are eligible for site subsidies of up to KRW 800,000 per pyeong. Companies that newly hire Goyang residents in excess of their regular workforce or provide training programs may receive employment and training subsidies of up to KRW 1 billion, with KRW 500,000 per person per month for up to six months, for each category.

Furthermore, companies moving into the urban high-tech industrial complex at Goyang Ilsan Technovalley can benefit from a 60% reduction in acquisition tax and a 35% reduction in property tax for five years, based on the "Restriction of Special Local Taxation Act" and the "Gyeonggi Province Local Tax Reduction Ordinance," valid until December 31, 2028. In particular, the exclusion from additional acquisition tax imposed in the metropolitan overcrowding control area is expected to significantly reduce the initial settlement burden for companies.

Additionally, with Goyang Ilsan Technovalley being designated as a Venture Business Promotion District by the Ministry of SMEs and Startups in 2024, tenant venture companies will be fully exempt from five types of charges (development, substitute forest resources creation, farmland preservation, substitute creation, and traffic inducement).

On-site regulatory requirements have also been substantially improved. Initially, under the conditions agreed with the military, companies constructing new buildings at four locations south of Beotgot Interchange (IC) were required to install military observation posts on the rooftops. This imposed significant burdens on tenant companies, both in terms of architectural design constraints and security and operational management.

However, after continuous persuasion of the Ministry of National Defense and related agencies, the city reached an agreement to allow the installation of CCTV and alternative observation posts within the Second Jayuro instead of rooftop observation posts. As a result, tenant companies will be able to secure greater architectural design flexibility and significantly enhance operational efficiency.

An official from Goyang City stated, "Goyang Ilsan Technovalley is an industrial complex with fast and convenient access, making it an ideal place for business," adding, "We will continue to focus all our resources on creating a business-friendly environment so that it can become a core pillar supporting the city’s self-reliance."

Details of the land sale notice will be available from April 24 on the websites of Goyang Urban Management Corporation, the Online Factory Establishment Support System, and Onbid.

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