3rd New Town 'Incheon Gyeyang Technovalley' Groundbreaking on the 29th

First Groundbreaking Among 3rd Phase New Towns
Construction Scheduled Within the Year for Namyangju Wangsuk and Others

The Incheon Gyeyang-gu Technovalley Public Housing District will be the first among the 3rd generation new towns to break ground.

Location map of Incheon Gyeyang District, 3rd New Town. / Image provided by the Ministry of Land, Infrastructure and Transport

On the 28th, the Ministry of Land, Infrastructure and Transport announced that on the 29th, it will conduct a comprehensive inspection of the housing construction commencement status in the Incheon Gyeyang District together with Incheon City, Korea Land and Housing Corporation (LH), and Incheon Urban Corporation.

The Incheon Gyeyang District was designated as a public housing district in October 2019 and completed the district plan approval in June 2021. Since then, from November 2022, the district development project has been underway, promoting land compensation and site development for housing construction. A total area of 3.33 million square meters in Gyulhyeon, Dongyang, and Bakchon-dong areas of Gyeyang-gu will see the construction of 17,000 housing units, including 9,000 public housing units such as youth housing. Approximately 41,700 residents are expected to move in.

The housing volume that has commenced construction this time is 1,285 units in A2 and A3 blocks, where preliminary subscriptions were conducted in July 2021, out of the total 28 housing blocks in the Gyeyang District. In A2 block, 747 public sale units will be supplied, and in A3 block, 538 units of Newlywed Hope Town (sale and Happy Housing) will be provided. Kindergarten, elementary school, and middle school will be located close to the complex. The main subscription will be held in September, and the move-in is targeted for December 2026.

In the main subscription, A2 block will be built with various sizes such as 59, 74, and 84 square meters, considering multi-child families. A3 block for newlyweds will be supplied in a single size of 55 square meters.

The Ministry of Land, Infrastructure and Transport plans to provide infrastructure such as transportation in line with housing construction so that new town residents do not experience inconvenience. Commercial sites will also be supplied without delay to create a self-sufficient city.

Other 3rd generation new towns will also begin construction of about 10,000 public housing units in the second half of this year. Gyosan District in Hanam-si, Gyeonggi Province (about 1,100 units), Changneung District in Goyang-si (about 2,000 units), Wangsuk District in Namyangju-si (about 4,000 units), and Daejang District in Bucheon-si (about 2,500 units) are scheduled to start construction within the year.

Jin Hyun-hwan, 1st Vice Minister of the Ministry of Land, Infrastructure and Transport, said, "To stabilize the housing market, we will speed up the commencement of construction to ensure the expected volume is supplied on time, and we will steadily promote the plan to supply 1 million public housing units to strengthen the public role. We will focus our capabilities on securing quality and safety during the design and construction process."