Goyang Ilsan Techno Valley and Gyeonggi Yangju Techno Valley will see groundbreaking in late October and November, respectively, to realize the massive development of northern Gyeonggi Province, the new growth engine of Korea.

Goyang Ilsan Techno Valley is an urban development project being jointly pursued by Gyeonggi Province, Goyang City, the Gyeonggi Housing and Urban Corporation, and the Goyang City Management Corporation. With an area of 859,500 square meters (about 260,000 pyeong) and a cost of KRW 850 billion, this project will see the creation of a base for attracting innovative companies in the fields of bio-technology, medicine, media and content as well as advanced manufacturing to Daehae-dong, Ilsan-gu, Goyang City.

In 2015, Gyeonggi Province established the “10-Year Development Plan for Northern Gyeonggi” and established a strategy to create the Gyeonggi Northern Techno Valley for industrial and economic development in northern Gyeonggi Province, creating an industrial location space to lead the growth of northern Gyeonggi Province. Since then, the project has been actively promoted with announced selection of the Gyeonggi Northern Techno Valley site in 2016, and is scheduled to be completed in 2026. It is expected to create approximately 22,000 jobs and generate an economic impact of KRW 6.5 trillion.

Gyeonggi Yangju Techno Valley is a project jointly pursued by Gyeonggi Province, Yangju City, and the Gyeonggi Housing and Urban Corporation in Majeon-dong, Yangju City, on a site of 218,100 square meters (approximately 66,000 pyeong) at a project cost of KRW 110.4 billion. Related procedures have been completed, such as selecting the location for the 2nd Northern Techno Valley in 2017, signing a joint project implementation agreement in 2019, and obtaining approval for the industrial complex plan in 2021.

This industrial complex creation project will create a base for promoting promising new future industries by structurally upgrading traditional manufacturing industries that combine service convergence and data-based innovation with existing urban, foundational and mechanical industries. It is expected to contribute to the balanced development of Gyeonggi Province by providing employment for approximately 4,300 people and generating an economic impact of KRW 1.8 trillion.

Gyeonggi Province Governor Dong Yeon Kim previously announced at the Northern Gyeonggi Special Self-Governing Province Vision Declaration Ceremony on September 26 that he would secure the future of the Korean people by realizing growth potential through the establishment of the Goyang Ilsan Techno Valley and the Gyeonggi Yangju Techno Valley, as well as the large-scale development of the northern Gyeonggi Province.

Lee Gye-sam, Assistant Governor of Gyeonggi Province for Urban Housing, said, “Groundbreaking for Goyang Ilsan Techno Valley and Gyeonggi Yangju Techno Valley, which are leading large-scale development projects in northern Gyeonggi Province, marks the beginning of large-scale development in northern Gyeonggi Province, and the establishment of the Northern Gyeonggi Special Self-Governing Province will also gain further momentum… We will focus all of Gyeonggi Province’s policy capabilities on the creation of the Goyang Ilsan Techno Valley and the Gyeonggi Yangju Techno Valley.”