Cheongju Technopolis, which is growing as a leading "compact city" in Korea, is highly anticipated in the real estate market due to its strong future value. In particular, it is reported that demand is pouring in from across the country following the news of the land sale for the 3rd phase project, considered the last opportunity to enter Cheongju Technopolis.
A compact city is an urban planning technique that consolidates key urban functions in one area, developing residential, industrial, commercial, educational, convenience, administrative, and natural facilities at high density. This results in high residential satisfaction and the ability to enjoy future value from development, making it a new trend in the real estate market.
The reason Cheongju Technopolis is emerging as a representative compact city in Korea is the same. It is evaluated as growing to the scale of a new city by not only leading advanced industries but also evenly providing facilities for housing, commerce, convenience, culture, and natural environment.
Cheongju Technopolis is being developed in Gangseo 2-dong, Cheongju-si, Chungcheongbuk-do, covering a total area of about 3.8 million square meters. Advanced industry companies that will lead the next 100 years, including IT, BT, NT, ST, and renewable energy sectors, are steadily moving in. Leading domestic companies such as SK Hynix and LG Household & Health Care have already established their presence, and with large-scale investments announced by major corporations, the future value is expected to rise further.
In fact, SK Hynix recently announced plans to expand semiconductor production facilities by investing 5.3 trillion KRW on approximately 60,000 square meters of land next to the existing M16 plant in the Cheongju Technopolis industrial complex. Construction will officially resume at the end of this month, with completion scheduled for November next year, followed by mass production. Equipment investment will proceed sequentially, with a long-term plan to invest over 20 trillion KRW in M15X.
Shinsegae Group, Korea’s leading retail company with Shinsegae Department Store, Starfield, and E-Mart Traders, has purchased land for distribution facilities within Cheongju Technopolis, promising to provide even richer sales facilities.
Transportation is also excellent. Accessibility to other regions is convenient via KTX Osong Station and Cheongju International Airport, reducing logistics costs. Through Seo Cheongju IC and Cheongju IC, it is easy to access the Jungbu Expressway and Gyeongbu Expressway. The area boasts a well-connected transportation environment with Osong Station (KTX·SRT) and the 2nd and 3rd ring roads linking all parts of Cheongju.
The 3rd phase project land for sale includes facilities such as detached houses, neighborhood living, semi-residential, commercial, support, and parking, all of which can be 100% privately owned. Unlike apartments, no subscription savings account is required, and it includes highly scarce residential land in the city center, drawing significant interest.
Having successfully completed land sales in the 1st and 2nd phases, this final 3rd phase land sale is regarded as the "last train" opportunity to secure a stake in the highly valuable Cheongju Technopolis.
The supply of the 3rd phase project land in Cheongju Technopolis is scheduled for sale in May.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
