Mayor Minkyoung Sun Launches Hands-On Sales Campaign to Attract Companies to Ilsan Technovalley

Goyang City Launches All-Out Effort to Attract Companies to Ilsan Technovalley
“Investment Proposals” Sent to 92 Major Companies in the Northwestern Seoul Metropolitan Area
Promoting Investment Appeal through Land Purchase Subsidies and Tax Benefits
Up to 800 Million Won in Land Acquisition Support for Investment over 3,300 Square Meters
On-Site Visits and Customized Consultations... Close Support from Investment Decision to Relocation

Goyang Special City in Gyeonggi Province (Mayor Minkyoung Sun) has launched hands-on “customized sales” efforts to successfully attract companies to Ilsan Technovalley. Departing from the traditional approach of passively waiting for companies to show interest, the city is actively selecting high-potential companies, promoting investment appeal, and offering close support throughout the relocation process.

Minkyung Sun, Mayor of Goyang City. Provided by Goyang City

On the 28th, Goyang City announced that it had sent investment proposal letters signed by Mayor Minkyoung Sun to 92 major factory-registered companies located in the northwestern region of the Seoul metropolitan area.

This investment initiative marks the city’s first step in identifying each company’s relocation and expansion needs, while actively highlighting Ilsan Technovalley’s location advantages and support programs.

In the letter, Mayor Minkyoung Sun emphasized that securing talent has emerged as a key element in corporate growth. He highlighted that Goyang, with its easy access to Seoul and excellent residential environment, can serve as a new growth hub for businesses.

Goyang City boasts extensive transportation networks, including the GTX-A, Subway Line 3, Gyeongui–Jungang Line, Seohae Line, and Gyoe Line, in addition to major roadways such as Jayu-ro, the Second Jayu-ro, and the Seoul–Munsan Expressway. Proximity to Gimpo Airport and Incheon International Airport further strengthens its reputation as a highly advantageous location for business operations.

Ilsan Technovalley, currently being developed on approximately 860,000 square meters, is set to become a representative high-tech industry hub in the northwestern Seoul metropolitan area, bringing together companies and R&D personnel in the medical-biotech, advanced manufacturing, content, and artificial intelligence (AI) sectors.

The city has also prepared various support measures for attracting companies. Businesses investing at least 3,300 square meters in Ilsan Technovalley’s advanced manufacturing sites can receive up to 800 million won to offset land purchase costs. Acquisition tax reductions are expected to save companies around 200 million won, and a 35% property tax reduction will also be provided.

The city plans to identify and attract a wide range of business needs, not only supporting the complete relocation of workplaces but also focusing on the relocation of headquarters or R&D centers, business expansion, and the establishment of new advanced manufacturing facilities.

Ilsan Technovalley Launches ‘Customized Sales’. Photo by Goyang City

Starting with the dispatch of investment proposals, the city will establish a “one-stop business support system,” making on-site visits to hear companies’ investment plans and providing comprehensive support throughout all stages—from site selection and tax or financial assistance to permits and groundbreaking.

Mayor Minkyoung Sun of Goyang Special City stated, “We cannot make Ilsan Technovalley a success by simply waiting for companies to come to us. We will directly approach companies with investment potential, present conditions tailored to their growth plans, and create a city that companies actively choose because of our ability to deliver results.”

Ilsan Technovalley was selected as a Gyeonggi Province public project in 2016 to foster high-tech industries in northwestern Gyeonggi and strengthen Goyang City’s self-sufficiency. The project is jointly promoted by Gyeonggi Housing and Urban Development Corporation (GH) and Goyang Urban Management Corporation (GU), with site preparations scheduled for completion by the end of 2027.

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