Incheon Seo-gu Advanced Industry Origin... DK Asia's 'Wanggil Station Royal Park City Prugio' Attracts Attention

- Ahead of Hana Financial Group's Relocation in Early 2025
- Major Companies in Advanced Industries Like Hydrogen and Robotics Settle in Seogu

Seo-gu, Incheon is gaining attention as a representative business hub in the metropolitan area as companies in finance, hydrogen, robotics, and other sectors flock to the area. With the increase in jobs, housing demand has surged rapidly, making Seo-gu the first among Incheon's seven districts to see a price upturn this year, and the real estate market is heating up with apartment transactions more than doubling.

According to the Korea Real Estate Board, Seo-gu's apartment sales price index rose by 0.02% in April and has continued to increase monthly through the latest statistics in October. Despite market crisis concerns this year, Seo-gu was the first among Incheon's seven districts to turn upward, drawing attention. Yeonsu-gu, led by Songdo in housing prices, saw prices start to rise later in May. In the October statistics, Seo-gu's increase of 0.52% was greater than Yeonsu-gu's 0.33%.

The industry attributes Seo-gu's rapid price turnaround to the establishment of major corporations in the area, which has sharply increased housing demand. Indeed, Incheon Seo-gu, including Cheongna International City, has seen a steady stream of companies related to advanced industries such as finance, hydrogen, robotics, automotive, and medical sectors relocating there.

A prime example is Hana Financial Group, which is setting up its headquarters in Cheongna. Known as the Cheongna Group Headquarters, six affiliates of Hana Financial Group will be located there. Completion is scheduled for the end of 2025.

Hyundai Mobis is also planning to build a hydrogen fuel cell production facility in Cheongna with an investment worth trillions of won. Additionally, SK E&S has started producing liquefied hydrogen at its liquefied hydrogen production facility built on the SK Incheon Petrochemical site in Seoknam-dong, Seo-gu, Incheon. Trial operations began in October, and full commercial production is expected soon.

Robotics companies are also attracting attention. Automation specialist Yooil Robotics is constructing a factory in Cheongna International City, aiming for completion in 2024. Yooil Robotics plans to mass-produce robots and secondary battery automation equipment at this site.

Furthermore, LG Magna e-Powertrain has established its headquarters in the Seo-bu Industrial Complex in Seo-gu, Incheon, and in May, BMW Group Korea broke ground on an R&D center in Cheongna International City, targeting completion in 2024. Additionally, a consortium led by Seoul Asan Medical Center was selected as the preferred negotiator for the Cheongna Medical Complex Town, which will include a general hospital and medical bio-industry-academia research facilities, with completion aimed for 2028. Major retail giants are also entering the area, with Starfield and Costco scheduled to open in Cheongna.

The growing demand base is also driving the development of large-scale residential complexes. The Seo-gu area of Incheon is transforming into a favorable living environment as new affluent neighborhoods emerge in Cheongna International City, Geomdan New Town, and the Baekseok-dong and Wanggil-dong areas.

Apartment sales transactions in Seo-gu have also increased. According to the Korea Real Estate Board, from January to October this year, apartment sales in Seo-gu totaled 5,462 transactions, more than double the 2,391 transactions during the same period last year. According to the Ministry of Land, Infrastructure and Transport, the Seo-gu ‘Geomam Station Royal Park City’ complex, which had move-ins in the second half of the year, recorded 795 transactions as of early December, ranking first in transaction volume across Incheon.

Real Estate Info research team leader Kwon Il said, “Job creation is a key factor in revitalizing the local economy, and local governments actively work to create industrial complexes and attract companies. In this regard, the establishment of major corporations and related facilities will have a significant impact on the development of Seo-gu, Incheon.” He added, “The real estate market can also expect improvements in various infrastructures such as commercial, educational, and cultural facilities, driven by increased housing demand.”

Attention is also focused on new housing complexes. The standout is DK Asia’s ‘Wanggil Station Royal Park City Prugio,’ a premium pilot complex in the Resort Special City with 1,500 households. There is no residency obligation, with a six-month resale restriction and interest-free installment benefits. It has already attracted attention with a self-increase of 132.2 billion won and offers free options such as air purification system air conditioners and three-row column-type built-in refrigerators (freezer + refrigerator + kimchi) in each unit, making it Incheon’s first full-option apartment. With the confirmed direct connection project to Seoul Subway Line 9, residents can reach Gangnam in about 40 minutes (express train) from Geomam Station without transfers. DK Asia plans to develop a new affluent neighborhood of 36,500 households across eight specialized projects on a 1.23 million-pyeong site in three phases.