Gwangmyeong-Siheung Technovalley Development Gains Momentum

Gwangmyeong-Siheung Technovalley

[Asia Economy (Suwon) = Reporter Lee Young-gyu] The Gwangmyeong-Siheung Technovalley development project in Gyeonggi Province has gained momentum.

The Gwangmyeong-Siheung Technovalley is a project to create a representative convergence high-tech hub in the southwestern metropolitan area by 2024, with an investment of 2.4 trillion KRW. It covers 2.45 million square meters (approximately 740,000 pyeong) in Gahak-dong, Gwangmyeong City, and Nongok and Mujinae-dong, Siheung City, and involves the development of four complexes: an urban high-tech industrial complex, a general industrial complex, a distribution complex, and a residential complex.

GH (Gyeonggi Housing and Urban Development Corporation) announced on the 6th that it recently issued a public notice approving the change in the plan for the urban high-tech industrial complex, which it is developing among the four complexes of the Gwangmyeong-Siheung Technovalley.

GH has been exploring various options to underground the power transmission lines within the site of the urban high-tech industrial complex and to incorporate the remaining areas of the special management zone.

With this plan change approval, GH can underground the power transmission lines, eliminating environmental hazards in the surrounding area, while enabling planned land use management of the remaining special management zone areas. GH expects the Gwangmyeong-Siheung Technovalley to be a pleasant area where industrial and residential environments harmonize.

The Gwangmyeong-Siheung urban high-tech industrial complex is an industrial complex developed by GH with a project cost of 453.6 billion KRW on a 494,000 square meter site in Gahak-dong, Gwangmyeong City, and Nongok-dong, Siheung City. The industrial complex plan was completed and approved in April last year.

However, the power transmission lines, located 100 meters away from the project site and running north to south, were criticized for undermining the psychological stability of the industrial complex workers. Additionally, some remaining areas of the special management zone were preserved, making planned land use management difficult.

A GH official stated, "After smooth compensation negotiations, construction is planned to begin in the first half of next year," adding, "We will do our best to transform this area into the center of the 4th Industrial Revolution in the southwestern metropolitan area, comparable to Silicon Valley in the United States."