Gyeonggi Province Accelerates 'Opportunity Town No. 2' North Suwon Techno Valley Project

[Suwon Ilbo=Reporter Kim Gapdong] Gyeonggi Province announced on the 29th that it will fully accelerate the 'North Suwon Techno Valley Development Project,' which is the second project of the Gyeonggi Province-type urban model 'Gyeonggi Opportunity Town' that combines functions including employment, housing, leisure, transportation, and welfare.

According to the province, the in-kind contribution agreement for the 'North Suwon Techno Valley Development Project' was finally approved at the Gyeonggi Provincial Assembly plenary session on the 27th. As a result, the province will be able to contribute the site and buildings to Gyeonggi Housing & Urban Development Corporation (GH), and GH is expected to accelerate the techno valley development project based on this foundation.

This in-kind contribution consists of the Gyeonggi Province Human Resources Development Center site (126,000㎡, 38,000 pyeong) and buildings located in Pajang-dong, Jangan-gu, Suwon, with a standard price of approximately 109 billion won. The estimated price considering future zoning changes will be finalized through appraisal.

The 'Gyeonggi North Suwon Techno Valley' will introduce △Gyeonggi Province-type integrated care and medical center △North Suwon Station integrated transfer center △dormitories and rental housing to improve residents' quality of life. Furthermore, as a key hub of the 'Gyeonggi AI Knowledge Industry Belt' connecting Indukwon, Gwacheon, Gwanggyeong, Yongin, and Pangyo, it is expected to secure new growth momentum for the southern Gyeonggi region and provide residents with better life opportunities.

The province plans to collaborate with GH to rapidly proceed with follow-up procedures including appraisal, detailed design, and permits, and to promote innovative and stable techno valley development through private enterprise recruitment and coordination.

Meanwhile, the first of 'Gyeonggi Opportunity Towns' is the Third Pangyo Techno Valley. Governor Kim Dong-yeon held a press conference on March 26 last year and stated, "Through the North Suwon Techno Valley, we will revitalize the regional economy and change the industrial map of Gyeonggi Province and the Republic of Korea. Starting with the North Suwon Techno Valley, we will improve the quality of life of each provincial resident and create an innovative model that opens the future of Gyeonggi Province and the Republic of Korea."

Son Im-seong, director of the province's Urban and Housing Bureau, said, "Through this in-kind contribution, we have laid the foundation for stably promoting the Gyeonggi North Suwon Techno Valley development project. The Gyeonggi North Suwon Techno Valley will be a representative example of the Gyeonggi Province-type urban model that organically combines elements closely related to residents' lives such as employment, housing, leisure, and care. We will continue to make efforts to enable residents to experience tangible changes through smooth project implementation."