With a total investment of 480 trillion won in semiconductor development underway in Cheoin-gu, Yongin City, expectations are rising in the real estate market.
SK hynix is developing the "Yongin Semiconductor Cluster General Industrial Complex" on a 4.15 million square meter site in Wonsam-myeon, Cheoin-gu, with a total investment of 122 trillion won. In February of this year, construction began on the first fab (semiconductor plant). This is a massive project, with just the first fab alone being five times the size of Lotte World Tower in Jamsil. The remaining three fabs are scheduled to be built sequentially by 2050.
It takes two years to build one fab, involving a cumulative workforce of three million people. SK hynix has announced plans to prioritize hiring local residents, which is expected to actively contribute to revitalizing the local economy.
With the power supply plan, a core infrastructure, now finalized, the development of the "Yongin Semiconductor Cluster General Industrial Complex" is expected to gain further momentum. On May 27, Korea Electric Power Corporation set a goal at the Electric Power Committee to invest a massive budget of 73 trillion won to stably supply more than 10GW of large-scale power.
Samsung Electronics is investing 360 trillion won to create the "Advanced System Semiconductor National Industrial Complex" on a 7.28 million square meter site in Idong-eup and Namsa-eup, Cheoin-gu. Yongin City has accelerated the project by shortening the approval period from the Ministry of Land, Infrastructure and Transport to one year and nine months. Typically, such approval takes about four years and six months.
This site will house six semiconductor fabs and more than 100 component design companies. Upon full completion of the complex, the production inducement effect is expected to reach 400 trillion won, and the employment inducement effect is projected to be 1.92 million people.
As large-scale semiconductor development progresses actively, interest in new apartment complexes in Cheoin-gu is also increasing. This is because significant value appreciation is expected each time a semiconductor plant begins construction or operation.
In fact, the "Godeok Paragon 1st" 84㎡ unit in Godeok New Town, Pyeongtaek, located near the Samsung Electronics semiconductor plant, was sold for around 300 million won in 2017, rose to the 400 million won range in 2019, reached the 600 million won range in 2020, and was traded at a peak price of 980 million won in 2021 (Source: Ministry of Land, Infrastructure and Transport Actual Transaction Price Disclosure System).
Industry insiders predict that "Cluster Yongin Gyeongnam Honorsville," which announced its sales launch in Yangji District, Cheoin-gu in June, will be the biggest beneficiary. This is because, compared to other complexes in Cheoin-gu, it is closer to SK hynix’s "Yongin Semiconductor Cluster General Industrial Complex," and the expected move-in date coincides with the scheduled completion of the first fab (2027), which is anticipated to create strong demand from related professionals and workers.
An official from a certified real estate agency in Yongin City stated, "The semiconductor industry is a sector that creates large-scale employment, so residential demand will increase significantly around the semiconductor industrial complexes in Yongin City. Since Wonsam-myeon, where the SK hynix semiconductor cluster is being built, lacks residential infrastructure, demand is naturally expected to flow into the adjacent Yangji District."
"Cluster Yongin Gyeongnam Honorsville" is located in Yangji-ri, Yangji-myeon, Cheoin-gu, and will consist of 13 buildings ranging from three basement floors to 29 above-ground floors, with a total of 997 units. It is the first mid-to-large-sized apartment complex to be supplied in Yangji District, featuring popular 84㎡ units and rare 123㎡ units.
Previously supplied in Yangji District were the "Gyeongnam Honorsville Descent 1~3 Complexes," totaling 1,164 units. Together with "Cluster Yongin Gyeongnam Honorsville," a brand town of 2,161 units is expected to be completed in the future.
The Yangji District, where the complex is being built, offers an optimal location for commuting, being accessible to the Samsung Electronics and SK hynix semiconductor clusters in Cheoin-gu within about 10 minutes by car. "Cluster Yongin Gyeongnam Honorsville" also boasts convenient transportation networks, including the planned Dongyongin IC on the Seoul-Sejong Expressway, National Route 42 (Jungbu-daero), and Yangji IC on the Yeongdong Expressway, making commuting to nearby industrial complexes easy.
The competitive product design compared to other complexes is also receiving positive feedback. The complex features an ultra-wide living room of approximately 6.2 meters, about 1.7 meters wider than typical apartment living rooms. The three-sided balcony design, which utilizes the front, back, and side, provides a wider and more comfortable usable space. Additionally, ample storage spaces are provided throughout the home, such as an entrance storage room, kitchen pantry, and dressing room, allowing for efficient use of space.
A sales representative stated, "We are fully aware that buyers are sensitive to prices based on this year’s sales cases in Cheoin-gu, so we plan to set even more reasonable sale prices for our complex. In addition, we are planning special conditions such as a 5% down payment, full interest-free intermediate payments, and some paid options offered free of charge upon contract after application, to ease the financial burden for buyers, which is expected to draw high interest."
The model house is located in Mapyeong-dong, Cheoin-gu, Yongin City, and is scheduled to open in June.
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