As of June, construction progress reaches 27% in Goyang
Project advancing on schedule for 2026 completion
Investment intentions secured at 246% of industrial facility land
Tax reduction benefits offered through Venture Business Promotion Zone designation
Ilsan Technovalley, a core strategic project of Goyang Special City in Gyeonggi Province (Mayor Lee Donghwan), will begin full-scale land sales starting in July 2025. With this, Goyang is set to accelerate its transformation into a self-sustaining advanced industrial city and is preparing to emerge as a central city in the northwestern industrial belt of the Seoul metropolitan area.
Lee Donghwan, mayor of Goyang Special City, delivering a greeting at the groundbreaking ceremony of Ilsan Technovalley. Photo by Goyang Special City
According to Goyang Special City on June 27, the city will first offer the B3 block as land-for-land compensation in July, and will subsequently proceed with phased sales of a total of five blocks, covering 871,761 square meters.
Ilsan Technovalley is a key initiative of the 8th popularly elected administration, expected to create approximately 22,000 jobs and generate an economic ripple effect worth about 6 trillion won. In particular, the project is enhancing its status as a future growth hub by linking with efforts to designate the area as a Free Economic Zone.
Additionally, as a specialized complex where "work, residence, and leisure" coexist, the project is expected to generate synergy with nearby large-scale projects such as Goyang Broadcasting and Video Valley, the IP Convergence Content Cluster, Kintex Exhibition Hall 3, and the Janghang Housing Development District.
Ilsan Technovalley, currently under development on an 871,761-square-meter (approximately 260,000 pyeong) site in Daehwa-dong, Ilsanseo-gu, is a large-scale industrial complex project worth a total of 850 billion won, jointly implemented by Gyeonggi Province, Goyang City, Gyeonggi Housing and Urban Development Corporation, and Goyang Urban Management Corporation.
As of June 2025, the construction progress rate stands at approximately 27%, with the project smoothly advancing toward its scheduled completion at the end of 2026.
Starting with the supply of land-for-land compensation (B3 block) in July, the first phase of land sales for the B1 (Urban High-Tech Industrial Complex) and B2 (Knowledge-Based Facility Land) blocks in the southern section of Janghang Waterway will take place in September. In the first half of next year, sales will expand to include the B4 (Research Facility Land/Knowledge-Based Facility Land) and B5 (Urban Infrastructure Land) blocks.
The city is also simultaneously pursuing the undergrounding of the Second Jayuro, a key infrastructure project directly linked to the development of the complex. By investing a total of 53 billion won to underground a 1.06-kilometer section running through the industrial complex, the city aims to maximize both the integrity of the complex and the efficiency of pedestrian and logistics movement.
The current undergrounding construction progress rate is 4.38%, with completion scheduled for December 2025. To complement traffic flow during the undergrounding construction, a bypass road was already completed in December 2024.
Goyang City is also actively working to attract companies for the successful establishment of Ilsan Technovalley.
As of June 2025, the city has signed a total of 110 investment agreements, including 29 memoranda of understanding (MOUs) and 81 letters of intent (LOIs), with companies interested in moving in, particularly in the bio-medical and media·content sectors. The total investment area amounts to 774,888 square meters, which is about 246% of the actual industrial facility land area (314,263 square meters).
Institutional incentives have also been prepared to facilitate corporate attraction.
According to the "Goyang City Investment Promotion Ordinance," companies investing in more than 3,300 square meters (1,000 pyeong) of industrial facility land are eligible for up to 800,000 won per pyeong in land purchase subsidies, as well as employment and training subsidies for hiring new Goyang residents.
In particular, if a company hires more Goyang residents than its regular workforce and provides training, it will receive a subsidy of 500,000 won per person per month for six months, up to a maximum of 100 million won per company.
Additionally, with the designation of the Venture Business Promotion Zone in 2024, venture companies located within the zone are eligible for up to a 50% reduction in acquisition and property taxes, as well as exemptions from five major charges (traffic generation, development, forest, pasture, and farmland charges).
Goyang City is reorganizing the entire northwestern region into a single innovation industry belt centered on Ilsan Technovalley.
The project is organically linked with other major developments, including Goyang Broadcasting and Video Valley (40% complete, scheduled for completion in 2026), the IP Convergence Content Cluster (construction begins in 2025, completion by the end of 2027), and Kintex Exhibition Hall 3 (to be completed in 2028). Residential infrastructure is also being expanded in conjunction with the development of the Janghang Public Housing District.
Furthermore, the city plans to pursue the designation of Ilsan Technovalley as a "Special Opportunity Development Zone" under the "Local Decentralization and Balanced Development Act." If designated, the area will receive comprehensive national support, including tax, fiscal, and financial assistance, regulatory exemptions, and improvements to residential conditions.
In addition, the city is considering the designation of a "Peace Economy Special Zone" as part of its border area development strategy. This is expected to foster strategic industries such as medical·bio, quantum computing, and mobility, and to create synergy with the National Unification Information Center, which is scheduled to open in 2027 under the Ministry of Unification.
Mayor Lee Donghwan of Goyang Special City emphasized, "Ilsan Technovalley is a key base for leading the future industries of Goyang and the central axis for realizing a self-sustaining city. We will generate tangible results through corporate attraction, infrastructure expansion, and institutional support."
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