In an interview with YTN Radio, Yongin Special City Mayor Lee Sang-il stated that various support measures, including capital gains tax reduction and land compensation, will be prepared as compensation for residents and relocation measures during the development of the Advanced System Semiconductor National Industrial Complex. He also criticized Gyeonggi Province Governor Kim Dong-yeon’s irresponsible attitude regarding the construction of the Gyeonggi Southern Metropolitan Railway, and said that he would work with the Ministry of Land, Infrastructure and Transport to ensure that it is reflected in the national railway network plan.
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[Korean Today] Lee Sang-il, Mayor of Yongin Special City © Reporter Kim Na-yeon |
Yongin Special City Mayor Lee Sang-il appeared on YTN Radio’s ‘Wise Radio Life’ on December 31, 2024 and announced that compensation and relocation measures for residents and businesses have been prepared during the development of the ‘Yongin Advanced System Semiconductor National Industrial Complex.’
The market said, “We have been continuously negotiating with the government to protect the rights of residents and companies who have to involuntarily give up their land for the development of national industrial complexes,” and mentioned securing 110,000 pyeong of housing for new residents and 150,000 pyeong of industrial complexes exclusively for new companies. In particular, he explained, “The expansion of the capital gains tax reduction from the current 10% to 40% will greatly reduce the burden on new residents.”
He emphasized, “A plan that includes practical support measures such as compensation for land damage and support for the livelihoods of indigenous people will be implemented,” and “We are thoroughly preparing so that Yongin can establish itself as a global semiconductor hub through the creation of a national industrial complex.”
The market said, “The Yongin Advanced System Semiconductor National Industrial Complex is the fastest-growing government approval in history,” and “It received final approval on December 26, 2024, just 1 year and 9 months after the plan was announced.” It explained that this was the result of cooperation between the government, Yongin City, and Korea Land and Housing Corporation (LH) and the use of the fast-track system.
He also emphasized that he led the lifting of the Songtan Water Source Protection Zone, which includes part of the national industrial complex site. He said, “With the lifting of the Songtan Water Source Protection Zone, which covers 19.5 million pyeong, citizens can now exercise their property rights, and the vast land in Yongin can now be used for housing, corporate housing, and cultural spaces.”
Regarding the construction of the Gyeonggi Southern Metropolitan Railway, the mayor strongly criticized the uncooperative attitude of Gyeonggi Province Governor Kim Dong-yeon. He pointed out that “Governor Kim has abandoned the joint promotion agreement and continues to avoid meetings and discussions,” and that “even though the four cities of Yongin, Suwon, Seongnam, and Hwaseong claim the necessity of this project, Gyeonggi Province has put it on the back burner of its priority list.”
The market said it will continue efforts to include the Gyeonggi Southern Light Rail and the Gyeonggang Line extension (Gyeonggi Gwangju-Yongin Idong/Namsa) in the 5th National Railroad Network Plan through continued consultations with officials from the Ministry of Land, Infrastructure and Transport.
The market expressed regret that the ‘Semiconductor Special Act’, which was created to support semiconductor companies, was not passed by the National Assembly in 2024, and emphasized that “the National Assembly should pass the bill quickly for the future of the country.” The bill includes provisions such as new investment financial support, installation of power and water supply infrastructure, and exemption from the 52-hour workweek for R&D workers.
The mayor said, “Although the domestic and international environments are uncertain, Yongin’s growth will not stop,” and “We will continue to lay the foundation for Yongin’s leap forward through close cooperation with the government and related organizations.”
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