Known as a vast agricultural field for a long time in history, Gimpo in the northwest tip of the Korean Peninsula has transformed much to be a modern city today. Easily accessible to capital Seoul, Gimpo International Airport also conveniently takes citizens to wherever in the world.
LG Electronics recently shifting a large business base into Gimpo has illuminated some other major companies that are also making a move to the region for cost-effective operations cost compared to Gangnam District Seoul.
Knowledge Industry Centers have recently seen an increasing number of in-house companies with cutting edge tech. While the government lays a considerable importance in IT and knowledge as promising future industries, the city’s Knowledge Industry Center is expected to play an important role.
D-ONE CITY Signature
D-ONE CITY Signature in Gurae-dong Gimpo is rising fast as a new landmark of the city. This 3 story underground and 10 story overground Knowledge Industry Center is expected to embrace 613 rooms, 97 living facilities spaces and 12 storages when completed by Halla Corporation around 2024.
Surrounded between two train stations, the center is to provide all-in-one living facilities and amenities in and around from work and shopping to health and healing. The total size of the center will be 18 times bigger than a football stadium and in-house companies are expected to enjoy a variety of benefits including rooftop garden, parking space with capacity to accommodate up to 478 vehicles, verandas for workers to take a break in fresh open air, and a surprising 50% tax reduction and a 37.5% property tax reduction.
Nestled between Yangchon and Gurae stations, the center offers culture, shopping and healing experience. The commercial district around the center is expected to draw around 60,000 residents in the residential areas nearby. Residents in Seoul can access to the area within 30 minutes, depending on which part of Seoul, and it makes commute from the capital region agreeable. Gimpo International Airport nearby offers easy travel to the world alongside Incheon International Airport, Incheon Harbor, Gimpo Gold Valley, Gimpo Aerospace Complex, Geomdan Industrial Complex and Magok commercial supremacy.
D-ONE CITY Signature is free from real estate regulation. As a profitable real estate, the investors get benefits on acquisition tax, corporate tax and many more. The per square meter price is 4.5 million won cheaper than that of Gasan Digital Complex Seoul. Also, the rate of self-sufficient facilities is the lowest rate of 26% compared to other new towns. Recent trend shows that investors are turning their eye to Knowledge Industry Centers due to toughened regulations on house ownership. In fact, Knowledge Industry Centers show higher profit rates than houses, studio flats and commercial buildings. Only 10% of the down payment is needed and interest-free load is available until the completion of the building. Various government subsidies are also available for in-house companies with up to 7 billion won.
|▲ D-ONE CITY Signature / Director General Kil Hee-jeong|
D-ONE CITY Signature / Director Kil Hee-jeong (CEO of Obyeongieo)
Q. Are you satisfied with your job?
A. I started investment at first and then went through a number of fails. But how time flies it already has been 15 years. As a woman, it was not easy to build career in real estate market. Nevertheless, I pushed it forward with passion and I also had this sense of duty that I was making contribution to planning better city. I found a great confidence and pleasure while a land gradually turned into an attractive new town. So I can say I’m satisfied with my job and I feel rather proud.
Q. What precisely is Knowledge Industry Center?
A. A Knowledge Industry Center put individuals and companies relating to knowledge and/or information and communications industries into a more than 3 story building cluster which accommodates more than 6 management support teams. It used to be an apartment type factory and the center added high tech industries which drive their growth engine toward 5th industry. Thus it is named as Knowledge Industry Center.
Q. What kind of companies can enter specifically?
A. It is stated on the 10th revision of the Industrial Classification Code. They are food, textile, metal processing, electronic component, computer, image, sound, communications equipment, medicine, precision, optical instrument, watch, electronic devices, machinery, equipment, car parts, transportation equipment, furniture manufacturing, publishing, broadcasting, networking, computer graphic, integrated system management, R&D, services, professional skills, engineering, science and technology services, education, creation, arts, leisure, business management, and many more if it goes subdivision.
Q. What could be the locational benefits of D-ONE CITY Signature?
A. First, Gimpo Gold Line, Incheon Harbor, Gimpo International Airport and Incheon International Airport are within 20 to 30 minute distance of Gurae and Yangchon stations that play the transportation hub of western Seoul. Second, people can enjoy work, living, leisure and culture in and around D-ONE CITY Signature. Of 1,119 Knowledge Industry Centers nationwide, D-ONE CITY and D-ONE CITY Signature are included in the 36 (3.2%) excellent living infrastructure. Thanks to this, price can likely go up in the future. Third, the supply rate of the self-sufficiency facility and land of Gimpo Hangang New Town is 2.6% while Dongtan1 is 10.7%, Dontan2 5.4%, Gwanggyo 4.5%, Godeok Kukje 3.3%, Incheon Geomdan 5.1% and Pangyo 4.9%. In other words, Gimpo Hangang New Town has the highest scarcity and premium as supply is limited while hidden demand is high around.
Q. What will Gimpo Hangang New Town look like when completed?
A. The city’s population growth rate was the fastest among 226 local governments as of August 2020. The average age was 39.7 which is less than national average of 43. Gimpo Hangang New Town will be young, vibrant, self-sufficient, eco-friendly, ecological, innovative, culturally rich and accessible thanks to Gimpo Gold Line and ongoing discussion on extension of Seoul and Incheon subway lines. I’m proud to take a role of development and supply of Knowledge Industry Center in the city. I cannot wait to see spectacular turning of the city after 5 to 10 years.
Q. Lastly, what do you think you can emphasize?
A. I personally believe that young entrepreneurs, startups and activation of domestic market will boost our economy. This is the reason I’m into knowledge industry which is a link of 1st industry to high tech industry. So fostering talented manpower and creating jobs in the field are very important to activate domestic market and to grow business to global level. In-house companies of Knowledge Industry Center receive up to 80% loan for office and factory which also comes with various central and local governments support. D-ONE CITY Signature Knowledge Industry Center in Gimpo Hangang New Town is the core of the business that offers everything necessary. I can say D-ONE CITY Signature is a treasure of the city. Those who have an eye to see should know this.
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