Development of Northern Gyeonggi Province Begins

○ Gyeonggi Province to hold groundbreaking ceremony for Goyang Ilsan Techno Valley at the end of October, followed by the groundbreaking...

○ Gyeonggi Province to hold groundbreaking ceremony for Goyang Ilsan Techno Valley at the end of October, followed by the groundbreaking ceremony for Yangju Techno Valley at the end of November.
○ With the consecutive full-scale commencement of Goyang Ilsan Techno Valley and Yangju Techno Valley, the development of northern Gyeonggi Province and the establishment of Northern Gyeonggi Special Self-Governing Province gain momentum.
○ Goyang Ilsan Techno Valley is expected to create approximately 22,000 jobs and induce an economic effect of KRW 6.5 trillion, while the establishment of Yangju Techno Valley is expected to create around 4,300 jobs and induce an economic effect of KRW 1.8 trillion.

To realize the development of northern Gyeonggi Province, a new growth engine for Korea, construction of Goyang Ilsan Techno Valley and Yangju Techno Valley will commence successively at the end of October and the end of November.

Goyang Ilsan Techno Valley is a joint urban development project undertaken by Gyeonggi Province, Goyang City, the Gyeonggi Housing and Urban Corporation, and the Goyang City Management Corporation. The project occupies a site of 859,500 square meters (approximately 260,000 pyeong) in Daehwa-dong, Ilsan-gu, Goyang City, and entails a projected investment of KRW 850 billion. Its aim is to establish a foundation for attracting innovative companies in the fields of bio/medical, media/content, and advanced manufacturing.

In 2015, the province established the "10-Year Development Plan for Northern Gyeonggi Province" and formulated strategies to create a northern Gyeonggi techno valley in line with the Northern Gyeonggi Industrial and Economic Development Plan. Subsequently, in 2016, the site for the northern Gyeonggi techno valley was selected, and the project was vigorously pursued with the goal of completion by 2026. It is anticipated to create approximately 22,000 jobs and generate an economic effect of KRW 6.5 trillion.

Yangju Techno Valley is a joint project between Gyeonggi Province, Yangju City, and Gyeonggi Housing and Urban Corporation. It is located on a 218,100-square meter site (approximately 66,000 pyeong) in Majeon-dong, Yangju City, and entails a total investment of KRW 1.104 trillion. The project went through procedures such as the selection of the second phase of the Northern Techno Valley in 2017, the signing of a joint project implementation agreement in 2019, and the approval of the industrial complex plan in 2021.

The project is geared to create an industrial complex by combining service convergence and data-based innovation with the structural refinement of traditional manufacturing industries – such as urban, root and machinery industries – thereby laying the foundation for the cultivation of promising new industries in the future. It is expected to create approximately 4,300 jobs and contribute to the balanced development of Gyeonggi Province, inducing an economic effect of KRW 1.8 trillion.

At the Vision Declaration Ceremony for Northern Gyeonggi Special Self-Governing Province on September 26, Gyeonggi Province Governor Dong Yeon Kim stated that the establishment of Goyang Ilsan Techno Valley, Yangju Techno Valley, and the development of northern Gyeonggi Province will awaken growth potential and open the future of the Korean people.

Lee Gye-sam, head of the Gyeonggi Province Urban Housing Division, stated, "The groundbreaking for Goyang Ilsan Techno Valley and Yangju Techno Valley, leading projects in the development of northern Gyeonggi Province, signifies the start of the region’s development and will further accelerate the establishment of Northern Gyeonggi Special Self-Governing Province." He added, "We will concentrate all the policy capabilities of Gyeonggi Province on the establishment of Goyang Ilsan Techno Valley and Yangju Techno Valley."