Gyeonggi Province Allocates 463,000 sq. meters of Industrial Land to Yangju and Hwaseong

The Gyeonggi Provincial Government has allocated 463,000 square meters of non-industrial complex industrial land to two areas, Hwaseong and Yangju, in order to revitalize the local economy and prevent haphazard development.

On April 24, the Gyeonggi Provincial Government announced that, following the second demand survey conducted in January this year, it allocated 388,000 square meters to Yangju and 75,000 square meters to Hwaseong, totaling 463,000 square meters. The allocation took into account the '2040 Northern Gyeonggi Development Plan' (Great Development of Northern Gyeonggi), the Peace Economy and Opportunity Development Zone, and balanced regional development.

Of the newly allocated non-industrial complex industrial land, the portion assigned to the northern Gyeonggi region is expected to be linked to the Great Development of Northern Gyeonggi project, facilitating the clustering of dispersed companies and promoting convergence and innovation within the same industries.

In Yangju, scattered factories will be systematically and strategically reorganized, leading to improvements in both business sites and the surrounding environment, as well as direct and indirect job creation. In particular, the ongoing construction of Yangju Technovalley and Yangju Hoecheon High-Tech Industrial Complex is expected to play a significant role in fostering industries along the Gyeongwon axis in northern Gyeonggi.

Gyeonggi Provincial Government

In Hwaseong, the expansion of industrial land, infrastructure, and new production facilities is expected to help strengthen the income base for residents in areas where development levels are significantly lower compared to other regions.

Previously, in March last year, Gyeonggi Province received a total of 2,666,000 square meters of non-industrial complex industrial land for 2024-2026 from the Ministry of Land, Infrastructure and Transport. Of this, 1,318,000 square meters were allocated in the first round in July last year, with 968,000 square meters (73%) assigned to the northern region and 350,000 square meters (27%) to the southern region.

The Gyeonggi Provincial Government plans to allocate the remaining 885,000 square meters without delay, based on further demand surveys from cities and counties.

Park Hyunseok, Director of Urban Policy at the Gyeonggi Provincial Government, stated, "We expect the supply of industrial land to revitalize the local economy through the reorganization of factory-concentrated areas, expansion of infrastructure, and job creation for local residents." He added, "In particular, the second round of allocated industrial land focused on assigning a larger portion to the northern region, which is underdeveloped, in order to contribute to balanced development between the southern and northern regions."