LH to Break Ground on First Section of Yongin Semiconductor National Industrial Complex in October

[Financial News] Korea Land and Housing Corporation (LH) will begin land development work for the first section of the Yongin Advanced System Semiconductor National Industrial Complex in October. Compensation procedures for 99% of the private land subject to payment have reached the stage of negotiated acquisition or expropriation filing, and preliminary work such as tree clearing and cultural heritage surveys will begin this month.
According to LH on the 1st, bidding to select the contractor for the first section will take place on the 23rd. The company plans to shorten the time needed for follow-up procedures, including review of the project plan, and start construction in October.
At a site briefing on Aug. 18, LH decided to reflect the acceleration measures proposed by bidders in its review of the project plan. Based on this, it will examine ways to bring forward the schedule for starting construction of the first semiconductor fabrication plant in 2028.
Preparatory work before groundbreaking will begin this month. Tree clearing, cultural heritage surveys and removal of obstacles within the site will be carried out ahead of the land development project.
Land compensation began at the end of December last year. Over the past seven months, LH has completed negotiated acquisitions for 43% of the total private land subject to compensation, including the priority area where major facilities such as a power plant will be built, and has filed for expropriation for 56%.
LH plans to work with the government to shorten the expropriation process and complete compensation procedures within the year. The Yongin Advanced System Semiconductor National Industrial Complex will be built on about 7.78 million square meters in Cheoin District, Yongin. It will include six semiconductor plants, materials, parts and equipment companies, three power-generation facilities and industrial gas supply facilities. Lee Seong-hoon, CEO of LH, said, "We will aggressively run parallel procedures and reduce the time required so that we can help ensure the successful completion of the government's three major national projects and speed up the development of the industrial complex as much as possible."
[email protected] Choi Ga-young Reporter