"Gyeyang Technovalley Faces Risk of Becoming Factory and Logistics Warehouse"... Incheon Gyeyang-gu Demands Attraction of High-Tech Industries

Incheon City, LH, and Incheon Urban Corporation Site Inspection Meeting on the 10th
"Seoul Line 9 and Daejang Hongdae Line Must Be Connected to Bakchon Station"

Incheon Gyeyang-gu has demanded a review of the industry attraction plan and improvements to the metropolitan transportation network in relation to the development of the 3rd New Town 'Gyeyang Technovalley.'

According to Gyeyang-gu on the 10th, District Mayor Yoon Hwan made this request at an on-site inspection meeting attended by Incheon Mayor Yoo Jeong-bok, Park Bong-gyu, head of the Incheon branch of Korea Land and Housing Corporation (LH), and Jo Dong-am, president of Incheon Urban Corporation (iH), who are involved in the Gyeyang Technovalley project.

Last November, the Ministry of Land, Infrastructure and Transport announced plans to attract high-tech industries such as Information and Communication Technology (ICT) and digital content to Gyeyang Technovalley to create quality jobs and transition the industrial structure from manufacturing-centered to knowledge-based industries.

However, according to the 'Gyeyang Technovalley Urban High-tech Industrial Complex Industrial Complex Plan (draft)' announced by Incheon City on the 4th of last month, manufacturing (47.9%) and warehousing and transportation services (19.9%) account for about 70% of the total industrial facility land. This has raised concerns that Gyeyang Technovalley may be filled mainly with factories and logistics warehouses rather than high-tech industries.

In response, Gyeyang-gu requested related agencies to reconsider the industry attraction plan to ensure that high value-added high-tech industries such as digital content and ICT industries are attracted to Gyeyang Technovalley. It also urged improvements to the metropolitan transportation network, noting that Gyeyang Technovalley is the only 3rd New Town without a railway plan.

Yoon Hwan, head of Gyeyang District Office (center), is making a proposal for attracting high-tech industrial complexes and connecting metropolitan railway networks at the Gyeyang Technovalley site inspection meeting held on the 10th, attended by Yoo Jeong-bok, Mayor of Incheon, Park Bong-gyu, head of LH Incheon Headquarters, and Jo Dong-am, president of Incheon Urban Corporation.
[Photo by Incheon Gyeyang District]

Yoon Hwan, Mayor of Gyeyang-gu, stated, "To respond to corporate attraction and population inflow due to new town development, it is essential to extend the subway line connecting Seoul Subway Line 9 and the Daejang-Hongdae Line to Bakchon Station." He added, "We will do our utmost to attract high-tech industries and connect metropolitan rail networks so that Gyeyang-gu can emerge as a successful self-sufficient city through Gyeyang Technovalley."

Incheon Mayor Yoo Jeong-bok also said at the meeting, "To strengthen the competitiveness of Gyeyang Technovalley, we must attract leading companies such as large corporations and develop it into an industrial complex that integrates cutting-edge cultural content and information and communication technology." He added, "For this, we should actively consider transportation networks required by excellent talent and high-tech companies."

Gyeyang Technovalley is one of the 3rd New Towns designated by the government in October 2019 to stabilize the metropolitan housing market. LH (80%) and Incheon Urban Corporation (20%) plan to invest 3.5273 trillion won to build a total of 16,640 housing units (9,000 public housing units) and develop a 750,000㎡ urban high-tech industrial complex in Gyulhyeon-dong, Dongyang-dong, Bakchon-dong, Byeongbang-dong, and Sangya-dong in Gyeyang-gu. The pre-sale for four blocks (1,636 units) has been completed, with the first move-in scheduled for 2026.

Perspective view of Gyeyang Technovalley [Provided by Incheon City]