Gyeonggi Province and Gyeonggi Housing and Urban Corporation (GH) conducted a public recruitment to attract leading (anchor) companies to establish the 3rd Pangyo Techno Valley as a new hub for technological innovation in advanced industries. As a result, 20 advanced companies in aerospace, semiconductors, bio, batteries, mobility, artificial intelligence (AI), and other fields participated.
Previously, Gyeonggi Province held the related recruitment from September 27 to October 7.
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. Groundbreaking is scheduled for the end of 2025. The recruitment targets are self-sufficient facility sites numbered 1-4 (6,168㎡) and 3 (5,696㎡).
Gyeonggi Governor Kim Dong-yeon presented the blueprint for the 3rd Pangyo Techno Valley in January as ‘Job (직) · Residence (주) · Enjoyment (락) · Learning (학) ? a startup paradise where people can work, enjoy, and learn where they live.’ He also announced plans to develop the 3rd Pangyo Techno Valley into a new technological innovation hub in advanced industries such as system semiconductors by attracting global leading companies and universities.
As a result of this recruitment, in the semiconductor sector including fabless companies, 8 companies such as DB HiTek, Exicon, AD Technology, Aicland, YC Co., Ltd., Chemtronics, Nextin, and Ninetech submitted letters of intent. In the IT sector including information and communication, 4 companies including Wins Co., Ltd., AhnLab Co., Ltd., ATEC, and Korea Information Certification submitted letters of intent. In aerospace, Intellian Technologies submitted a letter of intent. In the bio sector, 2 companies, Medisola and Wontec, submitted letters of intent. In other fields such as AI, robotics, 5G, mobility, and video content, 5 companies including Wisnut, Robot & Design, Patron, KGM, and Kidari Studio submitted letters of intent.
The 20 companies that submitted letters of intent will submit their business plans by December 6, and priority negotiation candidates will be selected through evaluation.
Gyeonggi Province and GH will comprehensively evaluate market share, financial capability, funding procurement ability, and public contribution plans to select the target companies. They plan to sign supply contracts as early as the end of the year.
The supply conditions include mandatory use for designated purposes for 5 years, a minimum of 50% self-use ratio, commencement of construction within 2 years after the contract, completion within 4 years after commencement, and restrictions on resale and transfer to third parties for 5 years.
Gyeonggi Province is focusing on the new growth engines of Korea’s New ABC proposed by Governor Kim Dong-yeon: Aerospace (space), Bio, and Climate Tech. It also plans to continue developing the existing ABC fields of artificial intelligence (AI), batteries, and semiconductors through collaboration with existing companies, startups, youth, and research institutes in the 1st and 2nd Pangyo Techno Valleys.
Park Hyun-seok, Director of Urban Policy at 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."
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