Incheon Seo-gu Cheongna International City Gains Attention Amid Various Development Opportunities with 'Cheongna Ace High Tech City'

Cheongna Ace High Tech City

Ace Construction Co., Ltd. announced on the 18th that it is supplying ‘Cheongna Ace High-Tech City,’ the first knowledge industry center in Cheongna International City. Spanning approximately 106,165㎡ from basement level 2 to the 10th floor above ground, and consisting of a total of four buildings, Cheongna Ace High-Tech City comprises a knowledge industry center, dormitories, and neighborhood living facilities. It offers a one-stop solution from work to basic daily life, and through specialized design, it provides an environment equipped to accommodate various types of work. This breaks the existing prejudice that knowledge industry centers ‘lack entertainment,’ and it is expected to become a knowledge industry center where diverse convenience facilities coexist.

Earlier, Incheon Metropolitan City announced detailed plans to promote the generalization project of the Gyeongin Expressway, particularly revealing plans to commence construction of the third connecting bridge linking Yeongjongdo and Cheongna within this year. The schedule targets completion in 2025, which is expected to expand the transportation living radius and activate development in the surrounding areas.

Additionally, Cheongna International City benefits from optimized accessibility to various regions through the third connecting bridge and the extension of Seoul Subway Line 7, facilitating active exchanges with Gasan Digital Complex and Seoul’s Gangnam area. It is also attracting attention due to various development prospects such as ‘Shinsegae Starfield Cheongna,’ ‘IHP Urban High-Tech Industrial Complex,’ ‘Costco,’ ‘Medical Complex Town,’ and ‘Hana Financial Town.’

With the Ministry of the Interior and Safety extending the tax reduction benefits for companies moving into knowledge industry centers until 2022, initial tenants of knowledge industry centers can receive a 50% reduction in acquisition tax and a 37.5% reduction in property tax under the Local Tax Special Cases Restriction Act. If they meet the qualification criteria, they can also enjoy corporate tax reductions and policy fund support benefits.

Although value-added tax (VAT) is applied to the building portion during sale or general trade of knowledge industry centers, early refund applications or VAT settlement refunds can reduce the initial burden. Loans can be secured up to 80% of the sale price without restrictions, and there is an expectation that stable rental business targeting companies is possible, which contributes to the popularity of knowledge industry centers.

In particular, due to recent government’s stringent real estate policies imposing regulations on officetels and apartments, interest is shifting toward relatively freer small-scale investments in income-generating real estate such as knowledge industry centers. For detailed information about Cheongna Ace High-Tech City, which is attracting attention due to various development prospects, inquiries can be made by visiting the promotional center or through the main contact number.