Businessmen in the Yongin area have welcomed the news that a 150,000-pyeong industrial complex dedicated to relocation companies will be built for companies included in the ‘Yongin Advanced System Semiconductor Cluster National Industrial Complex’. The businessmen expressed their gratitude to Mayor Lee Sang-il and city officials for providing relocation measures and conditions for entry without industry restrictions, and they expect that compensation negotiations will speed up the process of creating the national industrial complex.
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[Korean Today] Location of Yongin Advanced System Semiconductor Cluster National Industrial Complex Including Industrial Complex for Immigration Companies © Reporter Na-yeon Kim |
A plan to create a 150,000-pyeong (500,000 m2) dedicated industrial complex for companies included in the ‘Yongin Advanced System Semiconductor Cluster National Industrial Complex’ to be built in Idong and Namsa-eup, Cheoin-gu, Yongin Special City has been announced. The Ministry of Land, Infrastructure and Transport confirmed this plan along with the national industrial complex approval on December 26 last year, and announced that it would include the dedicated industrial complex in the national industrial complex.
This announcement has largely resolved the biggest concerns of companies being accepted into national industrial complexes, such as relocation issues and securing space for moving in. Companies are very pleased that the industrial complex dedicated to relocating companies is being developed on a scale that can accommodate up to 50 companies without industry restrictions.
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[Korean Today] Yongin Special City Mayor Lee Sang-il (left) delivered his opinion on the development of the ‘Yongin Advanced System Semiconductor Cluster National Industrial Complex’ to Minister of Land, Infrastructure and Transport Park Sang-woo (right) on December 26, 2024. © Reporter Kim Na-yeon |
Yongin Chamber of Commerce and Industry President Lee Tae-yeol said, “I would like to thank Mayor Lee Sang-il and city officials for resolving the biggest concerns of companies included in the national industrial complex.” Lee Cheon-hee, head of the Planning and Management Division of the Yongin Chamber of Commerce and Industry, also said, “Attracting the national industrial complex, lifting the Songtan water source protection zone, and expanding National Route 45 are important achievements of Mayor Lee Sang-il,” and “The creation of the exclusive industrial complex is a great achievement that will change the economic structure of Yongin.”
Park Soon-hyung, chairman of the Small Business and Merchant Cooperative Council for Small Businesses and Entrepreneurs, said, “The scale of the dedicated industrial complex is larger than expected, and the conditions for moving in are favorable, so the worries of businesspeople have turned into hope,” adding, “It is thanks to the proactive efforts of Mayor Lee Sang-il and the city.”
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[Korean Today] Yongin Special City Mayor Lee Sang-il speaks at the ‘Yongin Advanced System Semiconductor National Industrial Complex Approval Ceremony’ held at Samsung Electronics Giheung Campus on December 26, 2024. © Reporter Kim Na-yeon |
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[Korean Today] On December 26, 2024, at the ‘Yongin Advanced System Semiconductor National Industrial Complex Approval Commemoration Ceremony’ held at Samsung Electronics Giheung Campus, Samsung Electronics and LH signed an implementation agreement on the details of the land sale contract, etc. © Reporter Na-yeon Kim |
Kim Yun-yeong, chairman of the Idong-eup Business Association, also said, “It seems that compensation negotiations will proceed quickly thanks to the establishment of a dedicated industrial complex,” and added, “I would like to express my gratitude to the city and the Ministry of Land, Infrastructure and Transport for reflecting the companies’ position.”
Some businesspeople positively evaluated the development of dedicated industrial complexes and relocation measures, but expressed the need for additional attention and support in the selling price and relocation process.
Lim Gap-sun, CEO of Ecowind Co., Ltd., said, “It is a great help that the dedicated industrial complex has been established without industry restrictions, but if there is a large difference between the land compensation price and the selling price, the burden on companies may increase.” He requested, “We need to support pre-occupancy and post-demolition so that relocation can occur without gaps by aligning the relocation and demolition periods.”
Mayor Lee Sang-il of Yongin Special City has been emphasizing the need for a dedicated industrial complex for immigrant companies and a housing site for indigenous people since the early stages of the national industrial complex development, and has been persuading the Ministry of Land, Infrastructure and Transport and LH. Since the announcement of the national industrial complex candidate site in March of last year, he has continuously demanded measures to compensate indigenous people and companies, and the Ministry of Land, Infrastructure and Transport and LH have finalized a plan to develop a dedicated industrial complex that reflects the actual conditions of companies through the first corporate demand survey from September to November 2023 and the second demand survey from April to May 2024.
This market also suggested various measures, such as reductions in capital gains tax and corporate tax, and financial support at the inter-governmental promotion support team meeting hosted by the Ministry of Land, Infrastructure and Transport, and tried to reduce the burden of relocation for companies and residents through these measures.
Yongin City plans to additionally designate the Chang-ri and Wanjang-ri areas of Namsa-eup, Cheoin-gu, where the establishment of an industrial complex exclusively for immigrant companies has been confirmed, as areas with development permit restrictions and to proceed with urban planning procedures to expedite the project.
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