Project purpose

• Bring a high-tech competitive edge to Jeju Island by expanding Science Park Complex 1 to include frontier industries such as IT·BT·CT·ET * (Basis) Article 170 of Jeju Special Law (project), 2nd JDC execution plan revision (2017-2021)

Project summary

• Location/lot area: Ilwon, Wolpyeong-dong, Jeju City / 848,000 ㎡
• Project period and cost: 2014 ~ 2022 / KRW 274.1 billion
• Development type: Public development of national industrial complex
• Key facilities: IT·BT·CT·ET companies, public/private research institutes

Project history

• Dec. 2016 Designation and declaration of national industrial complex (by Ministry of Land, Infrastructure and Transport)
• Mar. 2017 Compensation plan posted and objections received
• July 2017 Environmental effect evaluation (draft) released and briefing sessions held for residents and hearings
• Oct. 2018 Responsibility for setting up the Compensation Council transferred (Jeju Self-Governing Province → JDC)
• Nov. 2018 Compensation Council formed and 1st meeting held (5th Dec.)
• May 2019 Request submitted for approval of development execution plan (Jeju Self-Governing Province)
• June 2019 Compensation to land owners, etc. begins
• Sept. 2019 Changes approved to development plan (due to changes in cost and development period) (Ministry of Land, Infrastructure and Transport)
• Nov. 2019 Science Park Complex 2 provincial city plan reviewed and approved (Jeju Self-Governing Province)
• Jan. 2020 Government funding requested to build a road leading to Science Park 2 (Ministry of Land, Infrastructure and Transport)

Key milestones

• (Approval status) Approval underway to build Science Park Complex 2
  • Approval requested (March 2019) for development execution plan (Jeju Self-Governing Province) and discussion with relevant institutions ongoing
  • Request submitted and approved to change development plan (due to changes in costs and project period) in September (Ministry of Land, Infrastructure and Transport)
    * Project expenses KRW 104.4 billion → KRW 274.1 billion / Project period 2016 ~ 2019 → 2016 ~ 2022
  • City planning for determining city management plans (special-purpose area) reviewed and approved (Nov)
  • Environmental/traffic effect assessment approvedd with conditions attached (June, ‘20), Disaster impact assessment is under review
• (Status on compensation for losses) Compensation amount finalized and paid out
  • Appraisal agency selected and appraisal begun (Jan. 2019)
  • Appraisal completed (April) and compensation plan approved by board of directors (May 2019)
  • Compensation process begun, including discussion with landowners and other interested parties (June 2019)
    * Compensation rate 59.1% (land owner basis, July 2020)

Future plans

• Second half of 2020: Disaster Impact Assessment reviewed
• Approval of development plan (change) (Ministry of Land, Infrastructure and Transport) and development execution plan (Jeju Self-Governing Province)
• Working design and land expropriation completed for building Science Park Complex 2
• First half of 2021: site preparation begun for Science Park Complex 2

Land use planning

• Land use planning map (fixed) - as per the notice released in Dec. 2016

* Development execution plan is currently going through approval process, to be completed 2nd half of 2020, after which land use planning will be finalized.