ICT Advanced Manufacturing, Bio-Medical, and Media Content Industry Development
Securing Technological Innovation and New Growth Engines through Collaboration between Leading Corporations and Ventures
Mayor Donghwan Lee: "Focusing on Attracting Advanced Technology, Companies, Talent, and Capital... Creating a Business-Friendly City"
As the full-scale sale of Goyang Ilsan Technovalley approaches, expectations are rising for the creation of a new growth hub in northern Gyeonggi Province.
Goyang Special City in Gyeonggi Province plans to develop Ilsan Technovalley into an advanced ICT manufacturing, bio-medical, and media content industry cluster. It aims to attract key anchor companies that will serve as the central axis of the regional industry and establish a cooperative system to support innovative venture companies with technology and ambition in their startup and growth phases.
The Boston Bio-Cluster in the United States is a world-renowned bio complex centered around prestigious local universities (MIT, Harvard), research institutes, hospitals, and over 1,000 companies. It has maintained the top position as the "World's No. 1 Bio Cluster" selected by the genetic and biotechnology magazine GEN since 2016.
The success factors of the Boston Bio-Cluster include the concentration of research institutions, hospitals, companies, support organizations, startup support facilities, and investment capital, which facilitate smooth matching of talent and capital and create an environment where innovative technologies and ideas can be commercialized.
Kendall Square, densely populated with bio-innovation companies and research institutions, is called "the most innovative one square mile on Earth." It is designed as a town without fences, housing over 1,000 bio companies and venture capital firms (including Moderna and Pfizer), universities, hospitals, startup spaces, and parks.
A cluster refers to an aggregation where companies, universities, research institutions, and support organizations (government and local governments) interact to create new knowledge and technology. It contributes to corporate growth, national industrial development, and export competitiveness while serving as a focal point for regional economic revitalization. According to data from the Korea Industrial Complex Corporation, domestic industrial complexes have shown economic, industrial, social, and technological effects such as doubling sales, a 1.7-fold increase in export volume, a 1.6-fold increase in employment, and an average annual 12.5% rise in patent applications.
Goyang Ilsan Technovalley is gathering attention as an advanced industrial innovation cluster that will become a new growth hub in northern Gyeonggi Province. It is expected to serve as a focal point for job creation and the realization of a future self-sufficient city through the establishment of a 4th industrial complex.
Ilsan Technovalley is an advanced industrial complex being developed on a scale of 871,761㎡ (approximately 260,000 pyeong) in Daehwa-dong and Beopgot-dong, Ilsanseo-gu. The project is jointly implemented by Gyeonggi Province, Goyang City, Gyeonggi Housing and Urban Development Corporation, and Goyang Urban Management Corporation, with a total project cost of 849.3 billion KRW. The main targeted industries are ICT advanced manufacturing, bio-medical, and media content convergence industries.
Construction officially began in October last year, and full-scale land supply and sales are underway with plans to complete by December 2026. The project will supply and develop 24 advanced manufacturing facilities, 73 knowledge-based facilities, and 5 research facilities. Industrial facility land accounts for 36% of the target site, and parks and green spaces make up 21.4%, creating a pleasant advanced industrial business district with a balanced allocation of public support facilities and complex support facilities.
Goyang Special City plans to develop Goyang Ilsan Technovalley into an advanced 4th industrial cluster to promote corporate startups and activities. It will attract key large corporations that will serve as the central axis of the regional industry and secure technological innovation and new growth engines through collaboration with venture companies.
In the bio-medical field, a cooperative system will be established with the National Cancer Center located in Goyang, Dongguk University Medical Center, Inje University Ilsan Paik Hospital, National Health Insurance Service Ilsan Hospital, CHA University Ilsan CHA Hospital, and Myongji Hospital. Various infrastructure supports are expected, including a biobank for new drug development, GMP (Good Manufacturing Practice) for medical device quality control, animal testing labs for preclinical trials, contract manufacturing organization (CMO) facilities for pharmaceuticals, open laboratory R&D equipment, and a national cancer data center big data platform.
In the media and content industry sector, synergy effects are expected with major local broadcasters such as MBC, EBS, SBS, MBN, and JTBC, as well as the Korea Creative Content Agency, Bitmaru Broadcasting Support Center, Goyang Industrial Promotion Agency, Aqua Special Effects Studio, IP Convergence Content Cluster, and Global Webtoon Center. Support programs for training specialized professionals in planning, production, filming, CG, and sound will be provided, and content commercialization will be promoted through festivals by content and genre.
Various support benefits are also provided to alleviate the burden of initial investment and support corporate growth. Goyang City has established a legal basis through the "Investment Attraction Promotion Ordinance" to support land purchase costs up to 800,000 KRW per pyeong within the budget for investments of 1,000 pyeong or more in industrial facility land in Ilsan Technovalley. For new hires who are registered residents of Goyang and for education and training programs suitable for corporate activities, employment subsidies and training subsidies of up to 100 million KRW each can be provided, at 500,000 KRW per person per month for up to six months.
In October, 1.25 million㎡ (approximately 378,000 pyeong) in Janghang, Beopgot, Siksa, Baekseok, Hwajeon, Dongsan, and Wonheung in Goyang Special City was designated as a venture business promotion district by the Ministry of SMEs and Startups. Venture companies within the district can receive benefits such as up to 50% reduction in acquisition tax and property tax, exemption from five types of development charges, and exemption from the obligation to install art decorations on buildings. To activate investment in startup companies requiring initial funding, Goyang has established Goyang Venture Funds 1, 2, and 3 totaling 80 billion KRW and operates a Goyang Youth Startup Fund of 10 billion KRW.
Lee Dong-hwan, mayor of Goyang Special City, stated, "Being designated as a venture business promotion district by the Ministry of SMEs and Startups last October has laid the foundation for fostering advanced industries, and with the final application for designation as an economic free zone and the sale of Ilsan Technovalley, the blueprint is expected to become concretely realized. We will focus on attracting advanced technology, talent, companies, and capital to create a business-friendly city that promotes startups and growth."
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