Sejong Smart National Industrial Complex 'Government Approved'... "Yeonseo-myeon Area to be Completed by 2029"

The development of the Sejong Smart National Industrial Complex (hereinafter referred to as the Smart Complex) is set to accelerate following the final approval from the Ministry of Land, Infrastructure and Transport.

Location map of Sejong Smart National Industrial Complex. Provided by Sejong City

According to Sejong City on the 30th, the Smart Complex will be developed over an area of 2,753,000㎡ (830,000 pyeong) in the Yeonseo-myeon area, with Korea Land and Housing Corporation (LH) and Sejong Urban Transportation Corporation jointly participating as project implementers. Completion is targeted for 2029.

Since being selected as a candidate site for the national industrial complex in August 2018, the Smart Complex has undergone consultations with related agencies including a preliminary feasibility study in September 2020, and with the Ministry of Land, Infrastructure and Transport’s final approval, all administrative procedures for the development of the Smart Complex have been completed.

Accordingly, Sejong City plans to proceed with compensation and detailed design, aiming to start construction by the end of 2025 and begin land supply and sales from 2026.

Once completed, the Smart Complex will operate as a convergence-type industrial complex that meets location demands at all stages including research and development, demonstration, technology startups, and growth, serving as a testbed for new technologies and new businesses to establish a startup ecosystem.

Sejong City expects economic benefits of 20.6 trillion KRW and employment inducement effects of 19,000 jobs over 30 years of operating the Smart Complex.

The Smart Complex will also secure about 3,200 detached and multi-family housing units, integrated schools for kindergarten, elementary, and secondary education, as well as parks and green spaces.

Through this, Sejong City plans to utilize the Smart Complex as a complex and multifunctional space encompassing jobs, residential living, education, and innovation functions.

Additionally, to attract companies, the city plans to pursue designation of this area as an economic free zone and opportunity development special zone, and provide benefits such as tax reductions and regulatory exemptions to investing companies through support like promising company investment funds and investment promotion subsidies.

A total of 1.617 trillion KRW will be invested in the development of the Smart National Industrial Complex.

Mayor Choi Min-ho of Sejong City stated, “The Smart Complex will play a driving role in Sejong’s growth as a self-sufficient economic city,” adding, “We will implement a strategy to foster the new materials and components industry through the Smart Complex, strengthen the industrial base of the Chungcheong region, and enhance national industrial competitiveness.”