Breaking Ground for the Pyeongtaek Godeok Samsung Electronics Industrial Complex that Will Lead Korea’s Future Industries

With an investment of over KRW 100 trillion, the Pyeongtaek Godeok Samsung Electronics Industrial Complex will be back on track to lead Korea’s new businesses.

On May 14, the city of Pyeongtaek, Gyeonggi Urban Innovation Corporation, and Samsung Electronics held a ground breaking ceremony for the Pyeongtaek Godeok Samsung Electronics Industrial Complex in Jangdang-dong, Pyeongtaek-si. (See photo). Gyeonggi Province Governor Kim Moon-soo (7th from the right), Pyeongtaek Mayor Kim Sun-ki, Kwon Oh-hyun the Vice Chairman of Samsung Electronics, Lee Jae-young the President of Gyeonggi Urban Innovation Corporation, and 2,000 other people attended the ceremony.

The Pyeongtaek Godeok Samsung Electronics Industrial Complex will cover Mongok-dong, Jije-dong, and Jangdang-dong in Pyeongtaek with an area of 3.95 million m2. By 2015, the site preparation will be finished and Samsung Electronics’ production facilities will move in starting in 2016.
It should be noted that in terms of area, this complex is 2.4 times bigger than Samsung Electronics’ Suwon site (1.65 million ㎡), 2.6 times bigger than its Hwaseong Site (1.57 million m2), and 1.6 time bigger than its Asan Tangjeong site, resulting in Samsung Electronics’ biggest investment in the production field.
 
Also, with an investment of over KRW 100 trillion, which is the biggest since the establishment of Korea, Samsung Electronics will build production facilities that will lead future businesses such as next-generation semiconductors and medical equipment.

“Today, the Pyeongtaek Godeok Samsung Electronics Industrial Complex will be located in the middle of the Suwon, Hwaseong, and Asan sites to lead cutting-edge industries,” said Kwon Oh-hyun. “This complex will take Korea’s industry to the next level and will make a great contribution to revitalizing the local economy and national industry, triggering production, and creating new jobs.”

In 2016, when Samsung Electronics begins to move in, around 30,000 jobs such as research, production, and administration will be created and more than KRW 100 billion of local tax revenues will be generated to play a significant role in improving the national economy, as well as the local one.

“This ground breaking ceremony is not only about the industrial complex but it is also about hope for the global economy,” said Kim Moon-soo. “Despite tight economic conditions, Samsung Electronics made the difficult decision to not invest in other countries but to instead invest in Pyeongtaek, Korea. Along with the 12 million citizens of Gyeonggi Province, I appreciate such a bold move and will do everything to ensure Samsung Electronics’ success.”

“When Samsung Electronics begins to move in, the local economy will be boosted. At the same time, as the population exceeds more than 800,000, Pyeongtaek will grow in terms of education, culture, healthcare, and welfare” said Kim Sun-ki. “Keeping in mind that administration is there to help business activities, I will provide full support for the construction and operation of the complex along with the help to build the complex for Samsung Electronics’ subcontractors.”