Up to 3 Billion KRW Support for Land Purchase by Yeoncheon BIX Tenant Companies

Aerial View of Yeoncheon BIX (Euntong General Industrial Complex), Gyeonggi-do

Gyeonggi Province will provide up to 3 billion KRW in support when small and medium-sized enterprises (SMEs) located in Yeoncheon BIX (Euntong General Industrial Complex) purchase industrial complex land.

On the 28th, Gyeonggi Province announced that, following the revision of the 'Gyeonggi Province SME Development Fund Loan Guidelines' in May, it will offer loans of up to 3 billion KRW to companies purchasing land as part of support measures for public development industrial complexes in the northern region to promote large-scale development in northern Gyeonggi.

Previously, Gyeonggi Province revised the guidelines to allow support for public development industrial complexes located in Gapyeong-gun, Yangpyeong-gun, Yeoncheon-gun, Pocheon-si, Yeoju-si, and Dongducheon-si?areas targeted for balanced regional development within the province?where the sales rate is below 50% one year after completion.

Yeoncheon BIX (Euntong General Industrial Complex) is an industrial complex jointly developed by Gyeonggi Housing and Urban Corporation and Yeoncheon-gun, covering an area of 600,000㎡ at 273-4, Tonghyeon-ri, Yeoncheon-eup, Yeoncheon-gun. The project cost is 153.4 billion KRW, with 100% investment from Gyeonggi Housing and Urban Corporation.

Companies moving into Yeoncheon BIX can receive funding support with the following conditions: up to 80% of land purchase costs, up to 3 billion KRW for manufacturing businesses, up to 1 billion KRW for non-manufacturing businesses, and an 8-year loan term with a 3-year grace period.

Heo Seung-beom, Director of the Economic Office of Gyeonggi Province, stated, "We expect that support through the SME Development Fund will contribute to revitalizing the industrial base in northern Gyeonggi, including the Yeoncheon BIX industrial complex," and added, "Gyeonggi Province will continue to actively work to create a business-friendly environment in northern Gyeonggi."