Cheoin-gu Land Prices Surge Again Due to Semiconductor Cluster
Yongin's Average Land Price Rises 2.9%
Jukjeon Shinsegae Department Store Site Records Highest Price per Square Meter
The publicly announced land prices in Cheoin-gu, Yongin-si, Gyeonggi-do have surged significantly again this year following last year. The large-scale semiconductor production lines established by Samsung Electronics and SK Hynix continue to drive the rise in land prices.
A panoramic view of the 'Yongin Semiconductor Cluster General Industrial Complex' in Wonsam-myeon, Cheoin-gu, Yongin City, where SK Hynix will begin semiconductor production line construction starting next month. Due to the semiconductor industrial complex effect, the official standard land price in Cheoin-gu rose by 3.96% this year. Provided by Yongin City
Yongin City announced on the 7th that the standard land price in the city as of January 1 increased by an average of 2.9% compared to the previous year. By district, Cheoin-gu rose by 3.96%, while Giheung-gu and Suji-gu recorded increases of 2.82% and 2.48%, respectively.
Although the increase rate in Cheoin-gu was lower than last year's 4.84%, it still maintained a rise close to 4%. This is interpreted as reflecting expectations due to SK Hynix starting production line construction next month at the 'Yongin Semiconductor Cluster General Industrial Complex' in Wonsam-myeon, as well as Samsung Electronics' development of the 'Advanced System Semiconductor Cluster National Industrial Complex' in Idong and Namsa.
The highest publicly announced land price among standard lands in the Yongin area was at 1285 Jukjeon-dong, Suji-gu, where Shinsegae Department Store is located, reaching 7,461,000 KRW per square meter. The lowest was at San 48, Jwahang-ri, Wonsam-myeon, Cheoin-gu, at 4,490 KRW per square meter.
The standard land price is used as the basis for calculating individual land prices. In Yongin City, there are a total of 4,293 standard land parcels. The publicly announced prices for each standard land parcel can be viewed on the Ministry of Land, Infrastructure and Transport's Real Estate Price Disclosure website. Objections can be submitted online or in writing through the Real Estate Price Disclosure website or the Ministry of Land, Infrastructure and Transport until the 24th.
The Ministry of Land, Infrastructure and Transport will conduct re-investigation and evaluation of parcels with submitted objections, and after review by the Central Real Estate Price Public Announcement Committee, will announce the final adjusted prices on the 14th of next month.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
