The real estate market in Asan, Chungnam, which had been sluggish for a while, is rapidly heating up due to a large-scale investment by Corning, a U.S. specialty glass manufacturer. This is expected to bring significant benefits as major development projects and investments continue, including the designation of a display-specialized complex and the selection for the inorganic light-emitting display ecosystem construction project.
Corning, the world's leading company in the display glass substrate market share, announced on July 31 that it plans to make Asan, Chungcheongnam-do, the world's first hub for an ultra-thin bendable glass integrated supply chain. To this end, Corning plans to invest $1.5 billion (approximately 2 trillion KRW) over five years from this year until 2028. The ultra-thin bendable glass produced here will be used in foldable phones and advanced automotive displays.
According to industry sources, Corning decided to invest in Asan, Chungnam, among several candidates including China and Taiwan, considering its excellent research and development (R&D) infrastructure. In fact, Asan accounts for more than 20% of the world's display production value and over 50% domestically. Additionally, Samsung Display, the world's number one display panel company, is located in Asan, and there are about 370 small and medium-sized enterprises in the supply chain.
The favorable conditions in Asan do not end there. Earlier, the government selected Asan as one of the seven advanced industrial specialized complexes designated in July. Asan, along with Cheonan in Chungnam, was designated as a display-specialized complex. Leading companies such as Samsung Electronics, SK Hynix, SL Energy Solutions, and Samsung SDI play key roles in these complexes, with over 30,000 jobs expected to be created locally and a production inducement effect estimated at 32 trillion KRW.
Most recently, on August 3, Asan was selected as a candidate site for the government's 'Inorganic Light-Emitting Display Technology Development and Ecosystem Construction Project Smart Modular Center.' If finally selected, a total of 950 billion KRW is expected to be invested over eight years from 2025 to 2032.
A real estate expert said, "With the large-scale investment announcements from Samsung and its partners combined with the government's project selection benefits, the Asan real estate market is regaining momentum," adding, "There has been a noticeable increase in inquiry calls at sites currently selling remaining units."
As nationwide real estate investors focus on Asan, Chungnam, ‘Asan Xi Grand Park’ is also attracting attention as a beneficiary complex.
The complex already secures demand from about 90,000 workers in the surrounding area, including Samsung Display Asan Campus, Samsung Electronics NanoCity Onyang Campus, Hyundai Motor Asan Plant, Asan 1·2 Techno Valley, and Asan Smart Valley, and is expected to have substantial demand with future investments and job creation.
Asan Xi Grand Park is being built in Yonghwa-dong, Asan-si, Chungnam, with a total of two complexes and 1,588 households. By complex, ▲ Complex 1 has 739 units ranging from 74 to 149㎡, and ▲ Complex 2 has 849 units ranging from 84 to 149㎡.
The model house is currently conducting first-come, first-served sales and offers special benefits such as a 5% down payment (for units 84㎡ and above) and zero interest on all intermediate payments.
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