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Satellite lab cities around Seoul emerge as new rich in the age of innovations

Collected: 2017.11.27

Distributed: 2017.11.28

Source: Go Direct

Enter-6 Dongtan Metapolis Store

Output geography in South Korea has changed to underscore the shift in industrial focuses in the age of innovations and demographic changes from job and wage growth.

Hwaseong and Pyeongtaek cities in Gyeonggi Province close to the capital that are home to labs and fabs of Samsung Electronics and LG Electronics as well as future mobility R&D centers to automakers Hyundai and Kia emerged as the new-rich metropolis.

Hwaseong that had been shunned after it became notorious for hosting an unsolved case of serial killing of 10 women that occurred in the mid 80s to early 90s has turned into prosperous high-tech city.

Samsung Display Asan Campus

The city’s per capita gross regional domestic product, or output divided by the regional population, jumped 50.2 percent from 49 million won in 2010 to 74 million won ($68,757) in 2014, more than doubling the nationwide average of 30.7 million won in 2015.

It benefited from urban development in nearby Dongtan and hosting of labs of Hyundai Motor, Kia Motors and Samsung Electronics.

Southern coastal region, home to traditional industrial bases of steelmaking and shipbuilding, on the other hand has lost much of their old glory. In Ulsan City in South Gyeongsang Province where high-paying workers of Hyundai Heavy Industries lived, per capita GRDP fell 10.8 percent from 74 million won in 2010 to 66 million won in 2015. The per capita GRDP in nearby Gumi City stopped at 68 million won.

By Special Report Team and Lee Ha-yeon

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