Broadcast Visual Image Valley begins construction
Goyang City, situated north of Seoul, is experiencing a year of great transformation in the current year.
On April 9, Goyang City's construction project for the new office building passed a feasibility study by the Ministry of the Interior and Safety. As a result, the construction plan for the new city office with a total project cost of 295 billion won and a total floor area of 73,946 square meters will be finalized after a public design contest in September.
A week later, on April 16, the "Broadcast Visual Image Valley," one of the large self-sufficient facilities prepared by Goyang City, kicked off construction work after administrative procedures.
Starting with the Broadcast Visual Image Valley, large-scale self-sufficient industrial complexes such as Ilsan Techno Valley, KINTEX Third Exhibition Center, and CJ Live City will all start construction this year. On March 3, the City was selected as the only one in the country for the IP Convergence Cluster Creation Project. As a result, the cradle of the intellectual property (IP) content industry will be built in Daehwa, western Ilsan.
Goyang Mayor Lee Jae-jun said, "Rivers and mountains tend to change in 10 years, but it doesn't apply to Goyang City." "The self-sufficient industrial complexes in Goyang City have begun to be shown and the City will be reborn in a new shape within three years," said Mayor Lee. He expects that the City will experience “great transformation” this year.
Goyang City, having a population of 1.08 million, promises to be the center of 4th industries such as medical, bio, VR, augmented reality (AR), IT, and contents. Goyang-type self-sufficient city, which will be completed as a chimney-free industry, is slowly showing up.
On a spacious land of 850,000㎡ in Daehwa, Seo-gu, Ilsan, the “Ilsan Techno Valley" will began construction in the second half of this year. The project has remained stalled for a long time since the announcement of its location in 2016, but it has been on right track since Goyang Mayor Lee took office.
Goyang City has managed to raise 100 billion won in total through special accounts, issuance of public bonds and other programs. Based on this, it started a business that had stalled after passing a central investment review by the Ministry of the Interior and Safety in June last year. Goyang City's first approval of a plan to designate an urban high-tech industrial complex has also accelerated the attraction of industrial companies. It is marching ahead toward completion in 2024
The Ilsan Techno Valley aspires to attract companies related to 4th industries such as biomedical industries, augmented reality (VR) and virtual reality (AR) based content industries. A total of 75.5 billion won has been raised to attract investments, and detailed guidelines are also being prepared for incentives for tenant companies.
The "Kintex Third Exhibition Center," which faced a crisis of failure when Mayor Lee took office, also passed a preliminary feasibility study by the Ministry of Economy and Finance in January last year, four years after the discussion began. The positive development happened mainly because the City has secured 62% of the construction site and project costs in advance.
KINTEX Exhibition Hall 1 and 2 is Korea’s largest exhibition and convention center with 110,000㎡. If a 70,000-square-meter third exhibition hall is added here, the total area will be 180,000 square meters, making it the fifth-largest exhibition hall in Asia and the 20th-largest in the world. In addition to attracting large-scale international events, domestic exhibitions can be expanded on a global scale. Construction of KINTEX's 3rd Exhibition Hall will kick off in October this year for completion in 2024.
The “Gyeonggi Goyang Broadcast Visual Image Valley” is a project to create a cluster of broadcast, visual image, and cultural firms along the Han River axis. It will be located in the Janghang and Daehwa area with a size of 701,984㎡. A total of 670 billion won will be invested, and Gyeonggi Province and Gyeonggi Housing Corporation (GH) will jointly administer the project.
Roughly170,000㎡, or about 25% of the total area of Gyeonggi Goyang Broadcast Visual Image Valley, will be reserved as a broadcasting facility site. Major broadcasting stations and production centers will be accommodated here. In addition, infrastructure such as parks, green areas, parking lots, and schools will be built. It also will accommodate 3,674 residential units and businesses, and 106 single-family houses to help give the residents greater access to work. The Valley project is scheduled to be completed in December 2023. The project is expected to create 31,000 new jobs.
CJ Live City, which will house Arena with 42,000 seats, is also scheduled to begin construction in the first half of this year. There will be amusement facilities where you can enjoy K-culture with advanced technologies such as augmented reality (AR) and virtual reality (VR) as well as Arena, and theme parks decorated with Korean Wave content.
Goyang City's new office building will be completed in 2025 to suit its promotion of a special city. Goyang City's construction project passed a feasibility study of the Local Investment Project Management Center (LIMAC) under the Ministry of the Interior and Safety. As a result, the project cost of 295 billion won and the construction plan with a total floor area of 73,946 square meters will be finalized after an international design competition in September.
It will also build convenience facilities for citizens, such as small libraries and community centers. It is a complex cultural space that will be open to citizens, departing from the existing administrative-centered government building structure.
In addition, an intellectual property (IP) industrial complex will be created in Goyang City. The City will create an "IP (Intellectual Property) Convergence Cluster" with five stories at KINTEX's 2nd stage support site with 14.2 billion won in state and provincial funds.
The IP Convergence Cluster aims to attract industries related to intellectual property such as broadcast, visual image, webtoon, and publishing as well as K-pop contents. It is also planning to
connect other genres of industries as well as intellectual property (IP), distribution and consumption activities. It will seek to build an ecosystem of value chains in which one intellectual property is derived from another genre. The City expects more than 1,800 jobs to be created by 2028, along with 600 IP discoveries and $300 million worth of export contracts.