Acceleration of Industrial Complex Development in Cheonan City Area... Popularity of 'Cheonan Xi Tower'

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In knowledge industry centers, ‘regional growth potential’ is one of the key success indicators. Growing regions find it easier to attract large corporations, which leads to expectations of large-scale investments and the entry of various affiliated companies. Based on this, job creation and population inflow follow, resulting in increased rental demand and value appreciation for knowledge industry centers.

Recently, ‘Cheonan City’ has been recognized as a promising growth area. This is due to various favorable factors such as the establishment of new industrial complexes like the Cheonan Future Mobility National Industrial Complex and Cheonan Technopark, as well as the confirmed extension of the GTX-C line to Cheonan, making it an emerging hinterland of the Seoul metropolitan area.

The Cheonan Future Mobility National Industrial Complex is a project to develop approximately 4.17 million m² on the site of the Seonghwan Livestock Farm in Seobuk-gu, Cheonan City, with a total investment of 1.6 trillion KRW. It is a future advanced industrial complex focusing on mobility, semiconductors, and displays, scheduled for completion in 2028. The city estimates economic effects including direct investment of 7.7 trillion KRW, production inducement effect of 14.2 trillion KRW, and employment inducement effect of 58,000 jobs.

Additionally, Cheonan City is progressing with a project to develop 15 new industrial complexes totaling 13.68 million m² by 2028. These 15 new complexes, with a total investment of 5.2957 trillion KRW, will house over 400 companies including LG Household & Health Care and Binggrae, and are expected to create approximately 105,000 jobs.

The relatively young average age is also cited as a factor that raises expectations for Cheonan’s regional growth. According to the Ministry of the Interior and Safety, as of April this year, the average age in Seobuk-gu, Cheonan City, was 40 years, which is 5 years younger than the national average of 45. This results in a high economically active population of 490,000 and is highly valued for future growth potential due to childbirth and other factors.

An industry insider said, “Cheonan is a region where rental demand is supported by many companies despite relatively lower prices compared to the metropolitan area,” adding, “With continuous population inflow and corporate growth, knowledge industry centers in Cheonan are expected to have stable occupancy rates and value appreciation.”

Amid this, ‘Cheonan Xi Tower,’ the largest knowledge industry center in Cheonan and Asan, is receiving a flood of inquiries from entrepreneurs by applying various specialized designs.

‘Cheonan Xi Tower’ offers not only high product completeness through various specialized designs but also cost-saving effects. Through the ‘Double eXpress way’ drive-in system specialized design, the up and down lanes are separated to ensure safety during logistics movement, while enabling straight movement across two floors and four floors with a single turn, securing rapid vehicle movement routes.

Furthermore, a door-to-door system is implemented on all floors, allowing logistics loading and unloading right in front of each unit. The effective width of the vehicle entry and exit ramp is designed at 3.2 meters, allowing access for 2.5-ton vehicles. Additionally, the floor height of all units is designed at 6 meters to maximize space utilization, and a 5-ton freight elevator is installed to facilitate smooth logistics movement.

Moreover, the office-type knowledge industry center, composed of various floor plans ranging from 13 to 25 pyeong (approximately 43 to 83 m²), offers a wide terrace space up to 9 meters wide, enabling both scenic views and efficient work. The office-type (small) knowledge industry center provides a comfortable office environment with floor heating, as well as amenities such as refrigerators, bathrooms, shoe cabinets, and attic spaces.

‘Cheonan Xi Tower’ also boasts abundant hinterland demand. Just across a four-lane road are Samsung SDI and Samsung Electronics’ Cheonan plants, allowing immediate access to a large-scale demand base. Additionally, large industrial complexes such as Cheonan 2nd, 3rd, and 4th General Industrial Complexes, Foreigners-only Industrial Complex, Asan Display City 1st and 2nd General Industrial Complexes, and Cheonan Baekseok Agricultural and Industrial Complex are nearby, with over 600 companies already established.

‘Cheonan Xi Tower’ is also equipped with essential transportation infrastructure for knowledge industry centers. Its proximity to Cheonan IC allows easy access to the Gyeongbu Expressway, enabling rapid travel to metropolitan areas densely packed with large industrial complexes such as Pyeongtaek and Suwon, as well as to Daejeon. Travel to Seoul and the Gyeongsang region is also convenient. Furthermore, construction is underway for the Second Gyeongbu Expressway, scheduled to open in 2025, and with the recent confirmation of the GTX-C line extension to Cheonan and Asan, it is expected that major points in the metropolitan area and Seoul will be accessible within about 50 minutes.

In addition, using Local Road 628 allows quick access to Pyeongtaek Port, a logistics hub in the Gyeonggi area, and proximity to Dujeong Station and Cheonan Station on Line 1, as well as KTX Cheonan-Asan Station, facilitates convenient commuting for employees, which is advantageous for corporate workforce supply.

Moreover, Seobuk-gu is home to the Seongseong District and Baekseok District, new town-scale urban development zones with over 12,000 households, and in Buldang-dong, known as the ‘Gangnam of Cheonan,’ abundant living infrastructure such as department stores, large marts, and major commercial districts is available.

Facilities within ‘Cheonan Xi Tower’ will include various amenities to improve working conditions, such as meeting lounges, fitness centers, pilotis parks, rooftop parks, and commercial facilities. Tenant companies can also benefit from a 35% reduction in acquisition tax and property tax each, and if relocating their business from the metropolitan area’s overconcentration control zone, they can receive a 100% corporate tax exemption for five years.

Meanwhile, ‘Cheonan Xi Tower’ is located in Seongseong-dong, Cheonan City, Chungcheongnam-do, and will be developed with two buildings from basement level 2 to 12 floors above ground, covering a total floor area of 136,000 m².

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