Yangju City Accelerates Company Recruitment for "Gyeonggi Yangju Technovalley"
Nine MOUs Signed So Far... Additional Applications Ongoing
Prime Location and Cost-Based Sales Enhance Investment Appeal
Anchor Companies and Institutions to Be Attracted via Private Contracts... General Sales Planned for September
Yangju City, which is redrawing the industrial landscape of northern Gyeonggi Province, has officially launched a recruitment drive for companies to move into "Gyeonggi Yangju Technovalley" (hereafter Yangju Technovalley).
Yangju City has officially launched a recruitment drive for companies to move into the "Gyeonggi Yangju Technovalley." A bird's-eye view of Gyeonggi Yangju Technovalley. Provided by Yangju City
According to Yangju City on May 21, practical attraction strategies are now underway to encourage the participation of companies that will lead future industries, focusing on this advanced industrial complex scheduled for completion in 2026.
Yangju Technovalley is a high-tech industrial complex jointly developed by the city, Gyeonggi Province, and Gyeonggi Housing and Urban Development Corporation (GH) in the Majon-dong area of Yangju City, with a total area of 218,000 square meters (approximately 70,000 pyeong).
The complex targets four advanced manufacturing sectors?electronics, medical, electrical, and machinery?as well as eleven R&D industries including culture, information and communications, and knowledge industries. Its goal is to create a "future-oriented industrial ecosystem" where industry, research, and education functions are organically connected.
Accordingly, the lineup of tenant companies is also noteworthy.
Currently, a total of nine memoranda of understanding (MOUs) regarding tenancy and cooperation have been signed for an area of 31,478 square meters, which accounts for about 30% of the total industrial land.
The agreements include specialized manufacturing companies such as CAS Co., Ltd., Dilli Co., Ltd., Lab & People, and Interone Co., Ltd., focusing on electrical equipment and medical devices, as well as educational institutions such as Kwangwoon University, Kyungdong University, and Seojeong University.
In addition, the Gyeonggi Northern Chamber of Commerce and Industry and the Korea Venture Business Association have joined, accelerating the establishment of networking and support systems within the industrial complex.
This momentum was also evident at the "2024 Yangju City Industrial Complex Investment Briefing" held in November last year.
At the event, more than 200 corporate representatives and investors attended, and 23 letters of intent for investment were received on site alone.
The total expected investment amount is approximately 203.5 billion won, clearly reflecting the private sector's expectations and interest in the "Yangju Industrial Complex."
Given that the industrial complex has not yet been completed, the market's expectations for Yangju are considered to be quite high.
At the core of these expectations is its outstanding locational competitiveness.
Yangju Technovalley is adjacent to the first and second Seoul Ring Expressways and National Route 3, and is a 10-minute walk from Yangju Station on Subway Line 1.
Once the planned extension of Subway Line 7 (scheduled for 2027), the GTX-C line (scheduled for 2029), the Yangju Station area development, and connections to Okjeong and Hoecheon new towns are completed, the area will boast the metropolitan area's top-level transportation infrastructure for both logistics and commuting.
Yangju Technovalley is currently under construction, with the goal of completing the industrial complex by 2026.
Accordingly, Yangju City began the full-fledged company attraction process in April by announcing the recruitment of tenant companies through a private contract method.
Priority applications were accepted from companies that had signed MOUs, and the Investment Attraction Committee is currently reviewing and selecting tenant companies for agreement.
After finalizing private contracts with the selected companies, general sales are scheduled to begin in September.
The sales price, based on development cost, is about 5.04 million won per pyeong, which is competitive compared to surrounding development areas.
Yangju City especially plans to prioritize attracting companies capable of creating jobs or making large-scale investments through private contracts, and to secure a stable operational foundation for the industrial complex through early sales.
However, considering the inherent risks of pre-completion sales, the city also plans to implement systematic management and support measures concurrently.
A Yangju City official stated, "Yangju Technovalley will become more than just an industrial complex; it will be a hub for future high-tech industries and a driving force for the northern Gyeonggi economy. We hope to see strong interest from companies preparing for new challenges based on advanced technology and talent."
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