Gumi-si Lowers Industrial Land Prices to Boost Corporate Attraction

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] Gumi City, Gyeongbuk, and the Korea Water Resources Corporation have decided to lower the sale price of industrial land in Gumi High Tech Valley (National 5th Industrial Complex) to revitalize corporate attraction.

The sale price of the industrial land in Phase 1 of Gumi High Tech Valley has been reduced by 14.5%, from 864,800 KRW per 3.3㎡ to 739,000 KRW.

The city plans to announce the sale of Phase 1 industrial land in Gumi High Tech Valley applying the reduced price, and the lowered price will be retroactively applied to companies that have already purchased land.

Out of 1.93 million ㎡ of Phase 1 industrial land, 730,000 ㎡ has been sold, showing a low sales rate of 37%, but this year alone, 260,000 ㎡ of industrial land has been sold, exceeding the 200,000 ㎡ sold over the past four years.

In particular, Gumi High Tech Valley is located about 7 km in a straight line from Gunwi and Uiseong, the planned site of the Daegu-Gyeongbuk Integrated New Airport, offering excellent accessibility and is expected to attract attention as a future hinterland industrial complex.

Jang Seyong, Mayor of Gumi City, said, “The high sale prices of industrial complexes in our country act as a major obstacle to investment not only from domestic companies but also from overseas companies.” He added, “Supplying industrial land at affordable prices so that companies can focus solely on production helps to revitalize the economy.”