Goyang City Pushes for Economic Free Zone Designation Application... Residential Ratio Decreases from 14.2% to 9.3%

Goyang Special City, Gyeonggi Province (Mayor Lee Dong-hwan) announced on the 17th that it will apply for the designation of an economic free zone in the first half of the year, reflecting residents' opinions as the procedure for hearing residents' opinions on the economic free zone development plan has been completed.

A view of Goyang Special City Hall. Provided by Goyang Special City.

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From March 28 to April 11, Goyang City conducted a 15-day resident opinion hearing procedure on the development plan change (draft) for the additional designation of the Gyeonggi Economic Free Zone under the supervision of the Gyeonggi Economic Free Zone Authority. This is a preliminary procedure for applying to the Ministry of Trade, Industry and Energy for an economic free zone.

The total area of the Goyang Economic Free Zone disclosed this time is 17.09k㎥ (5.17 million pyeong), combining two districts: Goyang Songpo·Gajwa District and Goyang Janghang·Daehwa District. The Songpo·Gajwa District (9.8k㎥) is planned to focus on bio-precision medicine and smart mobility such as AI and robotics, while the Janghang·Daehwa District (7.29k㎥) is planned around K-culture and the MICE industry as core industries.

During the opinion hearing period, residents visited the Goyang City Economic Free Zone Promotion Division to review the economic free zone development plan (draft) and submitted a total of about 40 opinions. Most residents showed high interest and expectations for the promotion of the economic free zone and urged swift and active progress.

On the other hand, some residents expressed concerns that an excessively high residential ratio in the economic free zone could weaken industrial functions.

Residential facilities within the economic free zone are essential for the settlement conditions of foreign investors and professionals. In the nearby Incheon, the first economic free zone in Korea, the residential ratio is 14.8% in Cheongna International City and 11.3% in Songdo International City. The city set the residential ratio at about 14.2% of the total planned area after expert consultation to secure business performance and settlement conditions in the economic free zone.

However, considering residents' concerns about weakening industrial functions, the city decided to adjust the previously planned housing supply ratio from 14.2% (50,000 units) to about 9.3% (34,000 units). The residential ratio will be reduced to the minimum range that can maintain proximity between residence and workplace for foreigners and settlement conditions, while increasing the ratio of industrial land and other uses to further expand AI, robotics, and advanced facilities.

Additionally, residents' opinions on relocating the supply treatment facility will be reviewed and reflected. The existing supply treatment facility is planned to be located underground near the public botanical garden site adjacent to Lake Park, with the intention to create an Eco Flow Park linking Lake Park, the public botanical garden, and the supply treatment facility. The underground supply treatment facility's thermal energy will be utilized for the upper botanical garden and adjacent industrial smart farm facilities to enhance land utility.

Goyang Special City plans to supplement the development plan as such, undergo preliminary consultation with the Ministry of Trade, Industry and Energy by May, and apply for additional designation of the economic free zone within the first half of the year. This is about three years since it was selected as a candidate site for additional designation of the economic free zone in November 2022.

A Goyang Special City official said, "Unlike land development or urban development projects, which usually take about four years including district designation and development plan establishment, the economic free zone promotion process is conducted simultaneously to advance the schedule. We will focus all administrative capabilities to improve the completeness of the development plan by reflecting the diverse voices collected during the resident opinion hearing procedure and aim for designation within this year."

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