JDC launches first push to attract companies to Jeju Advanced Science and Technology Complex 2, offering 75,860 sq. m of industrial land

【Financial News, Jeju = Reporter Jeong Yong-bok】 Phase 2 of the Jeju Advanced Science and Technology Complex, which broke ground in 2024, a decade after the project plan was drawn up in 2014, is putting industrial facility land on the market for the first time. As the project moves beyond site development and into the stage of attracting IT and BT companies to Jeju, it will face a test of whether it can expand the island’s advanced-industry ecosystem, building on Phase 1.
According to the Jeju Free International City Development Center (JDC), applications for the first sale of industrial facility land at Phase 2 of the Jeju Advanced Science and Technology Complex will be accepted from the 19th to the 28th.
The first offering comprises 13 lots totaling 75,860 sq. m. It consists of seven lots totaling 27,328 sq. m of industrial facility land for IT (information technology) and six lots totaling 48,532 sq. m for BT (biochemistry).
The total offering price for all the lots is about 57.7 billion won. The IT land is priced at about 20.8 billion won, and the BT land at about 36.9 billion won. As a rule, each company may apply for one lot. Buildings on the industrial facility land are limited to a height of 15 m or less.
To reduce companies’ initial investment burden, the sale price will be payable in interest-free installments over two years. Companies seeking to move in must meet the industry and eligibility requirements set out in the management plan for Phase 2.
The offering has drawn attention less for the land sale itself than because Phase 2, a project pursued over many years, has entered the stage of filling the complex with actual businesses.
Phase 2 of the Jeju Advanced Science and Technology Complex is a national industrial complex under development across 848,163 sq. m in Wolpyeong-dong, Jeju City. JDC is developing and managing it directly, with the project aimed at attracting high-tech industries including information and communications, biotechnology, cultural technology, and environment and energy.
First planned in 2014, the project went on to receive national industrial complex designation and approval of its development plan in 2016. After approval of the development implementation plan in 2022, site preparation work began in May 2024. It took about 10 years from the initial project plan to the start of construction.

JDC’s current target for completion is 2028. In this first sale, industrial land is being offered before the entire complex is complete, allowing tenant recruitment and site development to proceed in parallel.
Phase 2 adjoins the existing Jeju Advanced Science and Technology Complex. Phase 1 was completed in 2010, and the sale of its industrial land was completed in 2013. With IT and BT companies such as Kakao Corp. and ESTsoft Corp. moving in, it has become a leading knowledge-industry hub in the Jeju region.
The decision to develop Phase 2 was also based on the view that the existing complex alone would struggle to meet demand from high-tech companies seeking sites. The plan is to connect Phase 1’s companies, workforce, and research and support facilities with the new complex, expanding the effects of industrial clustering beyond attracting individual companies.
The first offering focuses on IT and BT. The largest of the 13 lots is the BT lot Industrial-15-1, measuring 18,190 sq. m and priced at 13,843,330,000 won. The largest IT lot, Industrial-11-7, measures 8,602 sq. m and is priced at 6,546,470,000 won.
Whether the industrial land leads to high-tech companies actually moving in remains to be seen. Along with the advantages of Jeju’s location, factors commonly faced by industrial complexes outside the Seoul metropolitan area—including logistics costs, the availability of skilled workers, and companies’ access to markets—could also affect investment decisions.
In particular, the results of this first offering could serve as a benchmark for determining the scale and pace of subsequent, phased industrial land offerings. JDC plans to supply additional industrial facility land in stages, taking into account the complex’s development schedule and actual demand from companies.
Applications will be accepted from the 19th to the 28th, between 10 a.m. and 5 p.m., at JDC’s Seoul office and the JDC Elite Building inside the Jeju Advanced Science and Technology Complex. The sales notice, which opened on September 28, will remain in effect through the 28th of this month.
Lee Gyeong-seon, head of JDC’s Industrial Promotion Division, said, “This offering marks the starting point for Phase 2’s transition from the development stage to the company-attraction stage. We will expand efforts to attract high-tech companies by linking the new complex with Phase 1’s corporate and industrial base.”
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