Korean Air R&D Center to Be Established in Bucheon Daejang New Town

On April 30, Korea Land and Housing Corporation (LH), Korean Air, Gyeonggi Province, and Bucheon City signed an agreement for Korean Air's Urban Air Mobility & Aviation Safety Research and Development (UAM & Aviation Safety R&D) Center to be located in the Bucheon Daejang Second Urban High-Tech Industrial Complex.

The Korean Air R&D Center is a research facility aimed at leading the future unmanned aerial vehicle and UAM markets. It will be built on a site covering 66,000 square meters in the upcoming Bucheon Daejang Second Urban High-Tech Industrial Complex. The center is expected to create around 1,000 jobs, including research personnel. The total project cost is estimated at 1.2 trillion won.

Under this agreement, LH has committed to expediting the administrative procedures required for tenant companies to move into the industrial complex and sign contracts. LH will also ensure that land development and infrastructure construction proceed on schedule to facilitate a smooth relocation. Previously, LH signed an investment agreement with SK Group for the SK Green Techno Campus in 2023 and with DN Solutions in January this year.

Han Jun Lee, President of LH (first from the right), Ki Hong Woo, Vice Chairman of Korean Air, Yong Ik Cho, Mayor of Bucheon, Im Seong Son, Director of Urban Housing Office of Gyeonggi Province, and Myeong Hee Won, President of Bucheon Urban Corporation, are taking a commemorative photo after signing an agreement for Korean Air's research and development center relocation. Photo by LH

In January last year, LH designated a 561,000-square-meter urban high-tech industrial complex within the Bucheon Daejang public housing district, accounting for about 16% of the total area. This is 1.2 times the size of Pangyo Techno Valley. Tenant companies receive benefits such as land supplied at development cost, a 75% reduction in acquisition tax, and a 35% reduction in property tax for five years.

Han Jun Lee, President of LH, stated, "Through this agreement and continued cooperation with Gyeonggi Province and Bucheon City, we will do our utmost to ensure that Bucheon Daejang New Town develops into a sustainable, self-sufficient city equipped with smart transportation and living infrastructure. We will also make every effort to ensure the timely completion of the new town, enabling stable housing supply and the creation of quality jobs."