Gyeonggi Province "Goyang Ilsan Techno Valley Project Moving Forward Rapidly"

[Suwon Ilbo=Park No-hun] The urban development zone designation and development plan for Goyang Ilsan Techno Valley, jointly implemented by four institutions including Gyeonggi Province, Goyang City, Gyeonggi Urban Development Corporation, and Goyang Urban Management Corporation, passed the review of Goyang City's Urban Planning Committee on the 20th and is expected to gain momentum.

The Goyang Ilsan Techno Valley development project saw somewhat sluggish progress following its selection announcement in 2016, but has gained traction as a priority project under the 7th elected Gyeonggi Province and Goyang City administrations.
Active cooperation from the Ministry of Land, Infrastructure and Transport also proved effective. Following the application for development plan formulation submitted to Goyang City in June, the rapid processing by related institutions over six months—including inter-ministry coordination, completion of various impact assessments, and completion of urban planning review—demonstrates this.

In particular, despite strengthened procedures for the Central Land Requisition Committee's public interest review under the Land Compensation Act amended as of July 1st, this project has secured advance consent from a majority of landowners, achieving smooth review passage. Upon receiving zone designation, development plan establishment, and business authorization announcement by the end of December this year, full-scale negotiated compensation procedures will become possible.

Goyang Ilsan Techno Valley is being promoted in approximately 850,000㎡ of Beobgot-dong, Ilsan Seo-gu, Goyang City to attract innovative companies leading next-generation growth including AR/VR industry leading the Fourth Industrial Revolution, ICT-based advanced convergence industries, and broadcasting and video content industries.
Approximately 320,000㎡ of land within the business district is planned for industrial facility use, with the entire complex to be distinctively developed into four zones (Techno, Science, Business, and Community). Of these, 100,000㎡ of industrial capacity in Gyeonggi Province allocated through the Capital Region Coordination Committee review last July will be planned for concurrent designation as an urban advanced industrial complex, with industrial zone designation planning procedures under the Industrial Site Act for 2020 to be pursued in parallel.
Additionally, 230,000㎡ of knowledge-based industry land and research facility land and 75,000㎡ of complex facility and support facility land have been incorporated into the plan.
Notably, public support centers are planned on the support facility land, following the successful examples of Pangyo Techno Valley and Sangam DMC, to be utilized for public support services including market development, financing for startups and growing-stage companies, and research and development for future tenant companies, as well as support space for fostering strategic industries including broadcasting and video, biotechnology, and ICT sectors.

Gyeonggi Province, Goyang City, and other joint business operators plan to undertake compensation work and carry out real estate plan approval procedures for construction commencement in 2020, begin construction in 2021, and complete district development works in 2023 to prepare to welcome companies that will shine at Goyang Ilsan Techno Valley.