Yongin's First Large-Scale Industrial Complex... Yongin Techno Valley Completed 12 Years After District Designation

[Suwon Ilbo=Park No-hun] Yongin City announced on the 22nd that it has completed Yongin Techno Valley, the city's first general industrial complex developed through public-private partnership and its first large-scale industrial park. This comes 12 years after the district was designated and its development plan was approved in June 2008.

In relation to this, Mayor Baek Kun-ki of Yongin City visited Yongin Techno Valley on that day and toured the business facilities of Dongwon Furniture Co., Ltd. and Freshjoy Inc., which are already operating in the industrial complex, and encouraged the related officials.

Mayor Baek said, "Yongin Techno Valley is positioned along a line connecting SK Hynix's semiconductor cluster, the Technology Center of Lam Research, a world-leading semiconductor equipment company, and Platform City, which will become the city's new economic center," and added "Together with Deokseong 2 Industrial Complex, it will play a major role in Yongin's growth as a corporate city."

Yongin Techno Valley, developed on 840,034㎡ in the Deokseong-ri area, Idong-eup, Cheoin-gu, received approximately 300 billion won in project funding.

The city established a special purpose company jointly with Hanwha Urban Development Co., Ltd. and Hanwha E&C; in 2015, and has been conducting industrial complex construction since 2016.

A total of 119 companies have signed lease contracts for the industrial complex. Among these, 13 companies including Freshjoy Inc., Dongwon Furniture Co., Ltd., and Rozen Cheese & Food are already operating factories, and 34 companies including Bukguk T&C; Co., Ltd. have obtained construction permits and are building factories.

Even before completing the industrial complex, the city granted land use approval so that companies could move in whenever they wished. The city also actively supported companies by opening a dedicated consultation window for Yongin Techno Valley acquisition tax reporting at Cheoin-gu Office and assigning dedicated civil servants.

When all 119 companies move into Yongin Techno Valley, it is expected to create approximately 6,700 jobs and generate approximately 2.2 trillion won in annual production value.

Leveraging the success of developing Yongin Techno Valley, the city is accelerating the development of Deokseong 2 Industrial Complex, which will serve as the second Yongin Techno Valley, together with the Hanwha Urban Development consortium.

Both Yongin Techno Valley and Deokseong 2 Industrial Complex are located less than 10km in straight-line distance from the SK Hynix semiconductor cluster to be developed in Wonsam-myeon, Cheoin-gu, and are expected to form a key axis for development not only in the southern Yongin area but also in the southern Greater Seoul region.

Meanwhile, the city plans not to hold a separate completion ceremony as the COVID-19 risk has not been resolved.