Move-in of Advanced Research and Support Personnel
to Core Site in Wirye District
Expected Economic Impact of 16 Trillion KRW Over 10 Years
Completion Target Set for End of 2029
Seongnam City, Gyeonggi Province (Mayor Shin Sang-jin) held the ‘Advanced Industry Promotion Committee’ meeting at 2 p.m. on the 10th and approved the move-in of research and support personnel from POSCO Holdings affiliates to the ‘Wirye District Urban Support Facility Site (Site 2),’ a core site of the Wirye District 4th Industrial Cluster.
The site is a research and development and support facility land owned by the Korea Land and Housing Corporation (LH), located around Changkokcheon in Changkok-dong, Sujeong-gu, with an area of 49,308㎡ (approximately the size of 7 soccer fields).
Seongnam City conducted evaluations through a company recommendation contest starting in May 2023, and as a result, POSCO Holdings was finally selected on November 15 of the same year. Subsequently, on December 6, a land sale contract was signed between LH and POSCO Holdings, and the land payment is currently being made in installments.
Originally, the site was planned to house the POSCO Holdings Metropolitan Area Research and Development Center, but reflecting POSCO Holdings’ request to change the business plan due to recent internal and external market environment changes, the move-in of affiliates was approved. In the future, this space will be used as various research and workspaces for POSCO Holdings affiliates, and the resulting economic ripple effects are expected to reach about 16 trillion KRW over the next 10 years, including production and value-added creation, employment inducement, and local tax revenue.
Urban support facility site (Site 2) in Wirye District where a POSCO Holdings affiliate will move in. Provided by Seongnam City
This amounts to about 1.6 trillion KRW annually, exceeding seven times the annual economic effect (215.6 billion KRW) from the past relocation of Doosan Group affiliates to Jeongja-dong.
Meanwhile, this project is planned to start construction in the first half of 2026 and be completed by the end of 2029.
A Seongnam City official stated, “Through this project, we will develop the Wirye District into a special 4th industrial city where advanced technology and skilled personnel converge, and promote job creation and regional economic growth by fostering high value-added industries.”
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