Development of Yongin Sanghyeon 4 District, Changed from Expropriation to Mixed Use

Yongin City Announces Business Plan Change
Knowledge Industry Center and Office Facilities to Be Established

The project method for the 'Yongin Sanghyeon 4 District Urban Development Zone' in Sanghyeon-dong, Suji-gu, Yongin-si, Gyeonggi-do is changing from a compulsory acquisition/use method to a mixed compulsory acquisition and land readjustment method.

According to Yongin City on the 2nd, the city recently announced a revision plan for the development of Sanghyeon 4 District reflecting this change.

Sanghyeon 4 District is an urban development project zone covering 114,410㎡ on the site of a returned military base at 414-7 Sanghyeon-dong, aimed at creating a high-tech industry and business complex. It is being promoted to establish a self-sufficient city base in connection with the Gwanggyo New Town research complex located to the south of the district.

The project implementer, JB Gwanggyo PFV, initially proceeded with the project using the compulsory acquisition/use method for land within the existing project zone. However, with this plan revision, the project method will change to a mixed compulsory acquisition and land readjustment method. Land readjustment is a project method where, after project completion, landowners are allocated new land within the project area according to a pre-established land readjustment plan.

The change to the land readjustment method is known to be at the request of the landowners. A Yongin City official explained, "Landowners who own about 90% of the project site requested the land readjustment."

With this project plan revision, 24,203㎡ of the total project site will be implemented using the compulsory acquisition/use method, and the remaining 90,207㎡ will be implemented using the land readjustment method.

Sanghyeon 4 District project was initiated by the private sector in June 2020, and the urban development zone designation and development plan announcement were made in March last year. According to the development plan, an industrial research facility such as a knowledge industry center will be built on a 54,835㎡ site within the district. A 16,877㎡ business complex facility site will also be developed. Additionally, a 34,386㎡ neighborhood park will be created on the outskirts of the district.

This content was produced with the assistance of AI translation services.