Daejeon City Approves 545.2 Billion Won Investment for Taprip-Jeonmin Special Zone Development Project

Final Administrative Procedure Completed, Compensation to Begin

Expectations for Attracting Companies and Creating Jobs

Location Map (Provided by Daejeon City)

Daejeon City has approved the implementation plan for the “Daedeok Research and Development Special Zone Phase 3 (Taprip-Jeonmin District) Development Project,” which is being promoted in the Taprip-dong and Jeonmin-dong areas of Yuseong-gu with a total project cost of 545.2 billion won.

The approval of the implementation plan is the final administrative procedure required to begin the development project, and the land compensation process will commence immediately following this approval.

The Taprip-Jeonmin District development project will be established on a site of approximately 810,000 square meters at 692 Taprip-dong, Yuseong-gu, with a total project cost of 545.2 billion won. The project aims to attract companies focused on high-tech industries, connect the research outcomes of the special R&D zone to commercialization, and build an innovation cluster that integrates research, industry, and residential functions.

Through this, it is expected to generate a production inducement effect of 133.9 billion won and create 1,016 new jobs, thereby contributing to the creation of quality jobs and revitalization of the local economy.

In particular, by shifting away from a research-centered approach and strengthening links with the industrial sector, a virtuous cycle will be established in which Daedeok Special Zone’s technologies lead to startups, investments, and production. This is also expected to attract young talent and improve local residential conditions.

Daejeon City plans to accelerate the process by having Daejeon Urban Corporation, the project developer, carry out land compensation and infrastructure development procedures gradually, while simultaneously supplying industrial land and attracting investment in line with corporate demand.

Lee Jangwoo, Mayor of Daejeon, stated, “The Taprip-Jeonmin District will become a key hub for expanding the research capabilities of Daedeok Special Zone into industry and jobs. We will proceed swiftly with compensation and infrastructure development to ensure companies can move in without delay.”

This content was produced with the assistance of AI translation services.