Recruitment of Leading Companies for 3rd Pangyo Techno Valley Starts from the 30th of This Month

Gyeonggi-do 3rd Pangyo Technovalley Anchor Company Business Presentation Announcement Poster

Gyeonggi Province and Gyeonggi Housing and Urban Corporation (GH) will hold a public offering starting on the 30th to attract anchor companies leading advanced industries such as system semiconductors and artificial intelligence (AI) to the 3rd Pangyo Techno Valley. The selected candidates will be announced in December.

On the 11th, Gyeonggi Province held a "Briefing Session on the Supply of Self-Sufficient Facility Sites for Attracting Anchor Companies to the 3rd Pangyo Techno Valley" at the Seongnam Pangyo Global Business Center to share this information.

The 3rd Pangyo Techno Valley is a public-private integrated knowledge industry center being developed on a 73,000㎡ site within the 'Seongnam Geumto Public Housing District,' with a total floor area of 500,000㎡ and a project cost of 1.7 trillion KRW. Construction is scheduled to begin by the end of 2025.

In January, Gyeonggi Governor Kim Dong-yeon presented the "blueprint for the 3rd Pangyo Techno Valley" as a "work (직), live (주), enjoy (락), learn (학) - a place where you can work, enjoy, and learn where you live," and as a "startup paradise." He also announced plans to attract global leading companies and universities to establish the 3rd Pangyo Techno Valley as a new technological innovation hub in advanced industries such as system semiconductors.

The self-sufficient facility sites open for public offering are lots 1-4 (6,168㎡) and lot 3 (5,696㎡). Leading companies related to advanced industries are eligible to apply. The briefing session was attended by 114 companies including LG Innotek, DB Global Chip, HD Hyundai, LX Semicon, Daeduk Co., Samyang Corporation, KG Mobility, and Hyundai Wia.

The supply method involves evaluating business plans and awarding the site to the most outstanding company to provide opportunities to leading companies in the advanced industry sector.

When evaluating business plans, Gyeonggi Province assesses various factors such as market share, financial capability, funding procurement ability, and public contribution plans. The selected candidates will be announced in December, and sales contracts are planned to be completed thereafter.

The supply price (appraised price) is approximately 9.1 million KRW per square meter. This is expected to significantly reduce the financial burden on companies as it is cheaper than the market price around Pangyo.

To prevent excessive real estate development speculation and ensure that the 3rd Pangyo Techno Valley fulfills its original goal as a technology innovation hub, a designated use obligation period of about five years from the date of building ownership registration, a prohibition on resale and transfer to third parties, and a requirement that at least 50% of the main use area be directly (self) used for five years have been established.

Meanwhile, alongside attracting leading companies, Gyeonggi Province is also promoting the attraction of universities focused on advanced departments to establish the 3rd Pangyo Techno Valley as a global advanced industry-academic cluster, aiming for an opening in 2030. A university attraction briefing session was held on August 7, and a public offering will be conducted soon.

Park Hyun-seok, Director of the Urban Policy Division of Gyeonggi Province, stated, "We expect the 3rd Pangyo Techno Valley to establish itself as an innovation cluster where global leading companies in advanced industries such as system semiconductors, universities, and research institutes collaborate."