Geumsa Knowledge Industry Center (tentative name), Opening in November

Kim Jae-yoon, who was elected as the mayor of Geumjeong-gu in the local elections last June, has raised the possibility of urban development by making urban regeneration of the Seogeumsa area and revitalization of the Geumsa Industrial Complex his main campaign promises.

In particular, Busan Metropolitan City plans to establish an advanced ICT convergence knowledge-based service industry valley (Centum 2 District Urban High-tech Industrial Complex) linked with Centum City near the Geumsa Knowledge Industry Center by 2027, fostering a startup ecosystem and a youth job-centered town, which is expected to further strengthen competitiveness as a high-tech industrial complex and industrial cluster.

Meanwhile, the (tentatively named) Geumsa Knowledge Industry Center located in Geumsa-dong, Busan, is drawing attention as it is scheduled to open this month.

The Geumsa Knowledge Industry Center is planned to be constructed in Geumsa-dong with a total floor area of 10,668.68 pyeong (approximately 35,260 square meters), consisting of 2 basement floors and 15 above-ground floors.

The Geumsa Knowledge Industry Center is adjacent to the Centum 2 District Urban High-tech Industrial Complex and is located in an area rich in development benefits such as improved residential conditions, increased number of businesses, and easy workforce supply, due to regional development linked with the Busan city-led Geumsa Industrial Complex Centum Technovillage construction project.

Most importantly, it boasts excellent accessibility with Geumsa Station and Seodong Station on Busan Subway Line 4 within a 5-minute walking distance, and is adjacent to Bansong-ro and Suyeong Riverside Boulevard, providing convenient transportation networks for easy access to Centum City and throughout Busan. The planned urban railway connecting Busan Subway Line 1’s Oncheonjang Station and Seodong Station is expected to enhance inter-downtown connectivity, further strengthening the transportation infrastructure in the area.

By receiving benefits such as reduced loan interest rates and corporate development funds through the Small and Medium Business Corporation and Busan Economic Promotion Agency’s small business funds, the burden of starting a business and moving into the knowledge industry center is lowered, allowing those who purchase units to enjoy reduced monthly payments compared to renting.

Additionally, in the case of the knowledge industry center, with an LTV of over 70%, small investments by purchasers are possible, and long-term leases mainly to companies reduce vacancy risks compared to other real estate investments.

Resident companies can receive exemptions of 50% on acquisition tax, 37.5% on property tax, and 100% on corporate tax, with no resale restrictions and low management fees, which increase the attractiveness of the investment.

Furthermore, the Geumsa Knowledge Industry Center enhances competitiveness through a one-stop business system specialized for manufacturing industries.

It optimizes the work environment with a drive-in system for fast loading and unloading based on floor-by-floor parking plans, a door-to-door system for unloading cargo right at each unit’s entrance, a floor load capacity of up to 1.2 tons, a high ceiling height of up to 5.7 meters, and freight elevators capable of handling up to 2.5 tons.

A representative of the sales company stated, “The Geumsa Knowledge Industry Center has excellent location conditions with proximity to work and residence and good environmental resources as a major transportation hub and industrial function center.” He added, “If it is revitalized through industrial function advancement linked with surrounding high-tech industrial complexes, it is expected to play a role as a new growth engine city that boosts the Busan economy by creating jobs, fostering venture companies, and generating synergy effects as a high-tech technology city.”