Value context and insight. lkm@koreatimes.co.kr
Hillstate Seonhwa the Wise apartments up for sale
Hillstate Seonhwa the Wise / Courtesy of Hyundai Engineering & Construction
By Lee Kyung-min
By Lee Kyung-min
Hillstate Seonhwa the Wise, an apartment complex in Daejeon's Seonhwa-dong, will go up for sale, according to Hyundai Engineering & Construction, Thursday.
The future value of the complex is expected to soar due to its proximity to Daejeon Station, a key commercially busy district designated as Daejeon City Convergence Special Zone. It is also near the government industrial complex.
Hyundai's construction affiliate said Daejeon's real estate market is recovering from a years-long slowdown.
Daejeon is emerging among a handful of beneficiaries of the industrial complex development project, as advanced by the passage of a National Assembly subcommittee bill, May 30.
The bill will allow the city to establish a complex whereby industrial facilities, housing and cultural spaces will be built to accommodate workers who move to the region.
In March, the government said that it will invest over 3.4 trillion won ($2.5 billion) in Daejeon by 2030 to foster the semiconductor, aerospace, bio and medical industries in the city.
The government plans to develop Daejeon as a defense innovation cluster housing a major industrial complex.
A total of 484 firms have applied to move to the city.
Elite schools will be opened in the complex. A variety of private education systems and programs will be available. Community facilities there will meet the needs of parents with young children. A playground for children in the complex will create a safe and secure play area. Indoor golf practice sites and fitness centers will be built, as well as day care centers and libraries for children. Facilities and senior citizen centers will be set up. Major retail chains including Costco and Homeplus as well as department stores will be near the complex. Major administrative organizations will be in close proximity.