Perspective view of the Pyeongchon General Industrial Complex development project to be created in Seo-gu, Daejeon. Provided by Daejeon City.
[Asia Economy (Daejeon) Reporter Jeong Il-woong] The Pyeongchon General Industrial Complex in Seo-gu, Daejeon (hereinafter referred to as Pyeongchon Industrial Complex) has begun construction with the goal of completion in 2024.
On the 24th, Daejeon City held a groundbreaking ceremony for the Pyeongchon Industrial Complex with Daejeon Urban Corporation. The Pyeongchon Industrial Complex is being developed over an area of 859,000㎡ spanning Pyeongchon-dong, Yongchon-dong, and Maeno-dong in Seo-gu, and is expected to promote development in the southwestern region and resolve the chronic shortage of industrial sites in the Daejeon area.
Earlier, to prepare favorable conditions for companies to settle in the Pyeongchon Industrial Complex, the city invested 37.7 billion KRW last year (25.1 billion KRW from national funds and 12.6 billion KRW from city funds) to begin construction of an industrial complex access road connecting the Pyeongchon Industrial Complex and the national road in Bang-dong, Yuseong-gu (National Road No. 4).
This aims to improve the current road conditions, which require passing through the downtown area to access Seodaejeon IC from the Pyeongchon Industrial Complex, thereby enhancing accessibility to the industrial complex.
Once the road opens, accessibility between the Pyeongchon Industrial Complex, Seodaejeon IC, and Gyeryong IC will be secured simultaneously, which is expected to positively impact corporate attraction by reducing logistics costs.
The city also raised the support limit for relocating companies through ordinance amendments. This measure aims to strengthen corporate attraction within the Pyeongchon Industrial Complex, increasing the support limit for relocating companies from 6 billion KRW to 10 billion KRW per company.
Additionally, the city plans to attract high-quality companies to the Pyeongchon Industrial Complex by providing subsidies when investing using currently held land as part of its support measures.
Accordingly, the city plans to actively promote the attraction of companies related to 17 industries, including electronic components and other machinery and equipment manufacturing, in line with the Pyeongchon Industrial Complex sales schedule.
The expected economic impact from the development of the Pyeongchon Industrial Complex includes a production inducement amount of 157.6 billion KRW, a value-added inducement amount of 58.4 billion KRW, and employment inducement of 1,130 people.
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