Attracting Anchor Companies to the Third Borrow Pit
Site-by-Site Functional Layout Plan Unveiled
"Developing as an R&D-Based Hub for Advanced Robotics and Manufacturing Businesses"
Ansan City in Gyeonggi Province has unveiled its blueprint to develop the Ansan Science Valley (ASV) district as a global research and development (R&D)-based hub for advanced robotics and manufacturing businesses.
Aerial view of Ansan Science Valley (ASV), being developed as an economic free zone. Provided by Ansan City
On October 14, during a press briefing held at City Hall, Ansan City announced its development plan for the ASV area, which has been designated as an economic free zone.
During the briefing, Kim Ki-sun, Director of the Ansan City Railroad Construction and Transportation Bureau, estimated that the designation as an economic free zone would generate a production inducement effect of 2.2 trillion won and create 11,849 jobs during the land development phase alone. Kim added that, once companies have moved in, the area is expected to generate a production inducement effect of 8.4 trillion won, an annual value-added effect of 3.59 trillion won, and create 29,021 jobs.
The city also expects that the designation as an economic free zone will enhance the city’s brand, drive a paradigm shift in local industries such as manufacturing innovation in the Banwol-Sihwa National Industrial Complex, and bring additional benefits such as attracting international schools and improving the residential environment.
In the process of developing the economic free zone, the city plans to establish an advanced industrial innovation ecosystem model by linking the research capabilities of Hanyang University ERICA Campus and national research institutes with the business support infrastructure of Gyeonggi Technopark and the Small but Strong Research and Development Special Zone.
The city also released a functional layout plan for each site. The third borrow pit within ASV will be developed as industrial land to attract anchor companies and supporting facilities. In addition, the second borrow pit will be designated for international schools and corporate research centers; the northern part of Block 89 will be developed as a mixed-use area for work, R&D, MICE (Meetings, Incentives, Conferences, and Exhibitions), and commercial purposes; and the Hanyang University ERICA site will be developed into an urban high-tech industrial complex and a global R&D town. The city also announced plans to develop the area as an urban-type economic free zone through high-density development of quasi-residential and commercial districts.
Kim Ki-sun, Director of the Ansan City Railroad Construction and Transportation Bureau, is explaining the development plan for the Ansan Science Valley (ASV) area during a press briefing on the 14th. Provided by Ansan City
The city plans to complete the official designation of the district and selection of project operators within this year and to begin full-scale development procedures. To this end, the city intends to allocate the budget for feasibility studies, detailed design, and other preliminary procedures in next year’s main budget.
Lee Min-geun, Mayor of Ansan, stated, "The designation as an economic free zone will be a starting point for a new leap forward for Ansan City," and added, "We will do our utmost to ensure the city grows into an innovation belt for global advanced industries."
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