Goyang City Designated as the First Venture Business Promotion Zone in Northern Gyeonggi-do

Mayor Lee Dong-hwan: “Will be a turning point for job creation and innovation ecosystem”,

[Goyang=Newsis] Goyang City Hall. (Photo provided by Goyang City). [email protected], ‘[Goyang=Newsis] Song Ju-hyun: Goyang City in Gyeonggi Province announced on the 11th that it has been designated as a venture enterprise promotion district by the Ministry of SMEs and Startups, the first in northern Gyeonggi Province.’,
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, ‘The area designated as a venture enterprise promotion district includes Dae-hwa-dong, Jang-hang-dong, Beop-got-dong, Sik-sa-dong, Baek-seok-dong, Hwa-jeon-dong, Dong-san-dong, and Won-heung-dong, totaling 1.25 million square meters.’,
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, ‘This area is where Goyang City’s specialized industries such as bio, drones and mobility, and advanced manufacturing are concentrated, and venture enterprises in the area will be eligible for various tax incentives.’,
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, ‘Venture enterprises in the designated area will receive a 50% reduction in property and acquisition taxes when acquiring and using real estate within the district.’,
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, ‘They can also benefit from exemptions from five types of development fees and receive business and technical support from the government to promote district activation.’,
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, ‘While the basic reduction rate for property tax is 35%, Goyang City has taken measures to provide an additional 15% reduction by amending regulations proactively.’,
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, ‘The city plans to prioritize support projects for businesses to create an environment where venture enterprises can grow steadily.’,
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, ‘With this designation, the city expects to gain momentum in promoting advanced knowledge industry projects such as Goyang Economic Free Zone, Ilsan Techno Valley, and Broadcasting Video Valley.’,
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, ‘Furthermore, the city plans to establish venture and startup funds to attract investment, support corporate management, facilitate the overseas expansion of small and medium-sized enterprises, and support the gradual growth of startup companies to enhance global competitiveness and nurture future talents.’,
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, ‘Mayor Lee Dong-hwan stated, “This designation will be a crucial turning point that promotes the founding and investment of venture enterprises, advances research and development of advanced technologies, leads to high-quality job creation, and establishes an innovative ecosystem,” adding, “It is expected to have a positive effect on the designation of Goyang Economic Free Zone and leap into an innovative economic hub preferred by domestic and foreign companies.”.’,
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