Gyeonggi Economic Free Zone Authority Signs First Investment Agreement at Pyeongtaek Poseung BIX Public Rental Industrial Complex

[Suwon Ilbo=Reporter Kim Gapdong] The Gyeonggi Economic Free Zone Authority (Director Choi Won-yong) signed its first investment agreement on the 13th with 7 companies selected as tenants in the public rental industrial complex within Pyeongtaek Poseung BIX District at the conference room on the 8th floor of Pyeongtaek Port Marine Center.

The public rental industrial complex within Pyeongtaek Poseung BIX District is a complex provided for small and medium-sized enterprises, micro enterprises, and domestic return enterprises that face difficulties entering industrial complexes due to insufficient capital.

The province selected one location each in the southern part (Poseung) and northern part (Yeoncheon) of Gyeonggi from among publicly-developed industrial complexes with lower sale prices than private development as pilot project sites.

Since Gyeonggi Housing & Urban Development Corporation (GH) issued the rental announcement in April of last year, 7 of the 12 lots (23,000 square meters) within Poseung BIX District have so far completed contracts out of 45,000 square meters total.

The lease period is 5 years, and after the lease period expires, contract extension of up to 5 years is possible once (maximum within 10 years). After 5 years of occupancy, companies may convert to purchase if desired.

According to the agreement, the Gyeonggi Economic Zone Authority will provide administrative support necessary for corporate investment and actively listen to difficulties and work to improve them.

Companies have committed to contributing to local economic vitalization through early construction of production facilities, operating and managing facilities in an eco-friendly manner, and making efforts to employ local residents.

The tenant companies plan to establish auto parts and chemical product production facilities, with the goal of breaking ground in the second half of this year and commencing factory operations in the first half of 2028.

The province expects that through this project, the burden on micro enterprises and domestic return enterprises facing difficulties in moving in will be alleviated, and it will lay the foundation for creating a fair growth environment for small and medium-sized enterprises and revitalizing the local economy.

Choi Won-yong, Director of the Gyeonggi Economic Zone Authority, said "providing small and medium-sized and micro enterprises with various opportunities necessary for business activities is the role of the public sector" and "we will spare no effort in administrative support so that companies can operate smoothly and grow within the Gyeonggi Economic Free Zone."