Goyang City Demands GH Expand Broadcasting and Commercial Facilities
"Continued Supply Delays Harm Goyang Citizens"
Project Stalled for 2 Years Due to Permit Halts
The Goyang City Broadcasting and Video Valley project, with a total budget of 673.8 billion KRW, is facing the risk of collapse. Goyang City has put a brake on permits by demanding that the project implementer, Gyeonggi Housing and Urban Development Corporation (GH), reduce the residential ratio within the project site and increase broadcasting and commercial facilities. GH has opposed this, arguing that the vacancy rate of nearby commercial facilities already reaches up to 50%, calling the demand unrealistic. Some express concerns that if profitability declines due to the expansion of commercial facilities, making it difficult to attract investment, the entire project could be canceled.
Perspective view of Goyang Broadcasting and Video Valley promoted by Gyeonggi Housing and Urban Development Corporation (GH). It is scheduled to be completed by June 2026, but the supply plan has not been approved for two years.
According to Goyang City and GH on the 8th, last month Goyang City requested GH to change two mixed-use residential-commercial lots in the Goyang Broadcasting and Video Valley project into two broadcasting lots. This is the second request following the one in July to adjust the ratio of residential to commercial facilities in the mixed-use lots from 9:1 to 7:3. They reiterated the demand to reduce the residential proportion within the project as a condition for supply approval. A Goyang City official said, "The policy direction is to lower the residential ratio and strengthen other self-sustaining functions due to Ilsan's image as a bedroom town."
GH is pushing back. The vacancy rates of commercial facilities such as Kintex One City and Lafesta around the site range from 20% to 50%. The number of businesses closing is also increasing. If commercial facilities are expanded under these circumstances, losses due to vacancies are inevitable. Nearby Goyang Janghang District and Ilsan Techno Valley also have plans for non-residential land uses such as broadcasting, office, and commercial facilities. An industry insider said, "They are basically saying to build the facilities first and bear the losses later, but increasing commercial facilities does not automatically create demand."
There are concerns that if profitability worsens, it will be difficult for the developer and construction companies to consider investment, potentially leading to project cancellation. In response, a Goyang City official stated, "We cannot change the policy direction due to problems that have not yet occurred," and added, "Measures for commercial vacancy are issues for the future."
Due to the conflicting positions of Goyang City and GH, land supply approval has been stalled for two years. GH explained that since submitting the supply plan, Goyang City's demands have increased each time, including the project bidding method, preliminary design, and detailed plans for broadcasting lots. Despite proposing alternatives such as public contributions, adjusting the number of households, and modifying the residential ratio of the two mixed-use lots in response to the recent residential-commercial ratio adjustment request, these were rejected. GH stated, "Although the supply plan does not violate any related laws, there has been no progress in the project due to Goyang City's repeated and changing demands as the approval authority." They added, "If the current situation continues and the project is delayed, only the citizens of Goyang will suffer unjustly."
The Goyang Broadcasting and Video Valley is a project to build broadcasting facilities and 3,780 housing units on a 702,000㎡ site in Janghang-dong, Ilsandong-gu, Goyang City. GH started the project in 2019, began land development construction in 2021, and submitted the land supply plan to Goyang City in November 2022.
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