Hanwha Solutions to build industrial complex in Hwaseong

A rendered bird's eye view of H-Techno Valley, which will be built in Hwaseong by Hanwha Solutions and Hwaseong Urban Corporation by 2027 [HANWHA SOLUTIONS]

Hanwha Solutions got the green light from Hwaseong's city government for a 380-billion-won ($296.4-million) project to build an industrial complex in the city for auto part suppliers and semiconductor companies.

Named “H-Techno Valley,” the industrial complex will house companies in semiconductor and automotive part businesses in its 740,000-square-meter (183-acre) site in Yanggam-myeon, Hwaseong in Gyeonggi. The upcoming complex will be located close to a semiconductor cluster in Hwaseong and Pyeongtaek, and also to a mobility complex near the Yellow Sea, according to the company.

The construction of the H-Techno Valley is a joint project between the government and Hanwha Solutions.

State-run Hwaseong Urban Corporation and Hanwha Solutions signed a memorandum of understanding in 2019 and established a special-purpose company in 2021 for the joint project. Hanwha Solutions owns an 80 percent stake in the project, while Hwaseong Urban Corporation holds the rest.

Hanwha Solutions will begin the land compensation process and open a pre-subscription for lots in the complex in the latter half of the year. The construction will begin next year.

The goal is to complete construction by 2027.

The upcoming industrial complex is expected to create 7,000 new jobs and 2.3 trillion won in production, as well as an added value of 920 billion won, according to Hanwha Solutions.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]