Yoon-Duk Kim, Minister of Land, Vows to Accelerate Semiconductor Industrial Complex; Yongin Site Construction to Begin This Year

Expanding Supply of Non-Apartment Housing
Rent Surge Driven by Supply Shortage
Accelerating Development of Third-Phase New Towns

Yoon-Duk Kim, Minister of Land, Infrastructure and Transport, announced plans to begin construction on the site of the Yongin Semiconductor National Industrial Complex within this year.

On July 16, during an appearance on KBS 'News 7', Minister Kim addressed the status of the Yongin Semiconductor National Industrial Complex project, stating, "The site construction for the business being undertaken by Samsung was ordered today," and added, "We will make sure that construction on the site starts before the end of this year."

The Yongin Semiconductor National Industrial Complex is being established in the Idong and Namsa-eup areas of Cheoin-gu, Yongin City. Samsung Electronics will construct semiconductor manufacturing facilities, while the government and public institutions will support the development of essential infrastructure, such as the site, roads, water supply, and electricity.

Yoonduk Kim, Minister of Land, Infrastructure and Transport. Ministry of Land, Infrastructure and Transport

Minister Kim cited a shortage of housing supply and an increase in market liquidity as the main reasons for the current rise in jeonse and monthly rent prices surpassing the increase in home sales prices. He said, "There has been a significant increase in liquidity, and various types of housing need to be supplied. However, over the past few years, supply has not kept pace."

He also announced plans to utilize non-apartment housing and urban-style residential buildings to boost housing supply. Minister Kim stated, "We will strive to quickly supply more homes by utilizing non-apartment housing and urban-style residential homes."

For long-term real estate measures, he presented regional balanced development as a solution. The government's '5 Metropolitan Areas and 3 Special Autonomous Provinces' initiative is a plan to divide the country into five major metropolitan areas and three special autonomous provinces, in order to expand industrial and transportation infrastructure and alleviate concentration in the Seoul Metropolitan Area.

Minister Kim commented, "We will develop key hubs properly and strengthen the connections between these hubs." The plan is to attract corporate investment and expand wide-area transportation networks in regional hub cities, thereby dispersing the concentration of jobs and housing demand from the Seoul Metropolitan Area.

On the same day, during a briefing at the presidential office, Minister Kim also outlined major national land and transportation priorities, including shortening the development period for the third-phase new towns, integrating KORAIL and SR, and improving service at expressway rest areas.

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