Goyang to Issue Ilsan Techno Valley Land Sale Notice on Nov. 9, Step Up Efforts to Attract Advanced-Tech Companies

Companies purchasing at least 1,000 pyeong can receive up to KRW 800,000 per pyeong if they meet the requirements
Customized financial and fiscal support, one-stop administrative services... Support throughout the investment process
Mayor Min Kyungseon: "We will support companies from investment review through settlement and reach out to them directly"

Goyang Special City, Gyeonggi Province (Mayor Min Kyung-seon), will begin supplying sites at Ilsan Techno Valley with a sale notice for land designated for advanced manufacturing facilities on November 9. The city aims to attract companies looking to relocate or expand by highlighting the area’s access to Seoul and its medical and research infrastructure, while creating local jobs and strengthening the foundations for a self-sufficient city.

Participants discuss ways to attract corporate investment and provide support at a meeting on strategies to attract businesses to Goyang Special City, held on the 19th of last month. Provided by Goyang City.

Ilsan Techno Valley is being developed across approximately 870,000 square meters (about 260,000 pyeong) in Daehwa-dong and Beobgot-dong in Ilsanseo-gu. The project is being jointly promoted by Gyeonggi Province, Goyang City, Gyeonggi Housing & Urban Development Corporation (GH), and Goyang Urban Management Corporation (GU), with site development scheduled for completion by the end of 2027. The plan is to bring together companies and research and development functions, focusing on the bio and medical, media, and content sectors.

The city is highlighting the GTX-A line and major regional transport links, including Jayuro and Second Jayuro, as key location advantages. It plans to connect the medical and research infrastructure of the National Cancer Center and Dongguk University, as well as KINTEX’s exhibition and networking functions, with companies’ research, development, and commercialization activities. The residential and lifestyle infrastructure of Ilsan New Town is also cited as a factor that can help employees settle in the area.

The city will also offer location subsidies to reduce companies’ initial investment burden. Companies that purchase at least 1,000 pyeong of industrial facility land at Ilsan Techno Valley may receive up to KRW 800,000 per pyeong toward land acquisition costs, subject to relevant requirements and within the limits of the available budget.

Reductions in acquisition and property taxes, as well as subsidies for employment and job training, will also apply subject to their respective eligibility requirements. The city plans to inform companies about available support programs based on each company’s investment scale and the type of site it will occupy.

Ilsan Techno Valley project site. Provided by Goyang City.

The city is also working to reduce the administrative burden involved in investment. Based on a corporate attraction master plan currently being prepared, it will strengthen a dedicated, one-stop project management system that reviews key permitting matters in advance, including construction, environmental, and transportation requirements, and consider introducing an integrated permitting fast track.

The city also plans to develop customized support for companies expected to generate large-scale investment and significant job creation, including links to policy financing and assistance with employee commuting and relocation. However, detailed criteria for these additional support measures will be finalized after reviewing fiscal conditions and institutional feasibility, obtaining deliberation by the Investment Attraction Committee, and revising relevant ordinances.

The city will step up its investment attraction efforts by directly approaching companies considering relocation or business expansion and proposing suitable sites and support terms.

Following the notice for advanced manufacturing facility land, the city plans to issue a supply notice for knowledge-based facility land at the end of this month. Details on the sites available, application requirements, and schedule can be found on the Ilsan Techno Valley website.

Bird's-eye view of Ilsan Techno Valley. Goyang City...

Goyang Mayor Min Kyung-seon said, "Ilsan Techno Valley is an advanced industrial complex that offers companies an excellent location with convenient access to Seoul and gives residents jobs close to home. We will support companies at every stage, from considering investment to moving in and settling down, and actively approach businesses to attract investment."

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