[비즈한국] Yeongtong-gu, located in the eastern part of Suwon, Gyeonggi-do, is a district that, while being the most recently established in Suwon, has grown the fastest. Created on November 24, 2003, by separating from Paldal-gu, Yeongtong-gu manages the neighborhoods of Yeongtong-dong, Mangpo-dong, Maetan-dong, Woncheon-dong, and Iui-dong, and is establishing itself as the new center of Suwon. In particular, with the relocation of the Gyeonggi Provincial Government to Gwanggyo New Town on May 30, 2022, it has also gained status as the provincial capital. This shift toward becoming an administrative hub has had a significant impact on real estate values in Yeongtong-gu and is further enhancing its potential for future development.
The District with the Youngest Population Structure in Suwon
Beyond being a residential area, Yeongtong-gu serves as an industrial hub housing the headquarters of Samsung Electronics005930, as well as an educational hub densely packed with institutions like Ajou University and Kyonggi University. With these diverse functions intertwined, Yeongtong-gu is considered the youngest and most vibrant district in Suwon, which translates into high value in the real estate market. As of 2025, the Yeongtong-gu real estate market is preparing for an even brighter future based on its past growth momentum.
Yeongtong-gu is a planned city developed in the mid-to-late 1990s and has long been beloved as a residential area. Over time, issues with aging facilities and a lack of infrastructure intensified, and to address these, urban renewal projects for aging cities in the Yeongtong district are now in full swing. This project is the largest renewal target in Suwon, covering approximately 27,000 households, with plans to establish a basic renewal plan by 2025 followed by staged construction.
The development of Yeongtong-gu has followed the growth trajectory of Suwon as a whole, emerging as a major living area in Gyeonggi-do. Housing development began in earnest in the mid-1980s, leading to the formation of a new city where residential complexes and commercial facilities are harmoniously blended. Recently, large-scale development projects such as the Yeongtong District 2 reconstruction are actively underway, acting as a catalyst for regional development.
Yeongtong-gu has the youngest population structure in Suwon; surveys showed an average age of 29 in 2004 and 32 in 2012, maintaining a remarkably low level. As of 2023, the average age is 38.4, making it one of the youngest areas in the country alongside the nearby Dongtan New Town. This youthful population structure is a key indicator of Yeongtong-gu's vitality and growth potential.
Looking at the population trends in Yeongtong-gu, the total population has shown a slight downward trend from 2018 to 2025, decreasing by approximately 1.9% from 369,000 in 2018 to 361,900 in 2025. Notably, the number of households increased during the same period, growing by approximately 7.6% from 145,000 households in 2018 to 156,000 in 2025. This reflects the trend of increasing single-person and small households, signaling a qualitative shift in housing demand.
Regarding the age-based population composition, as of 2025, those aged 40-49 account for the largest proportion at 20%, followed by those aged 30-39 (16%), 50-59 (15%), and 20-29 (14%). This shows that individuals in their 30s to 50s, who are the most economically active, make up more than half of the total population. Furthermore, the proportion of the adolescent population (0-19 years) is 20%, the highest in Suwon, indicating a region with high educational demand.
These demographic characteristics have a significant impact on the real estate market in Yeongtong-gu. The high proportion of young to middle-aged residents means a deep pool of demand with housing purchasing power, which acts as a factor for the stable appreciation of real estate prices. In particular, given the high proportion of households in their 30s and 40s with a high zeal for education, demand for apartments in areas with good school districts remains steady.
‘A Neighborhood Explained Entirely by Samsung Electronics’
To understand the economic characteristics of Yeongtong-gu, one cannot overlook the presence of Samsung Electronics. As the saying goes, "a neighborhood explained entirely by Samsung Electronics," the headquarters of Samsung Electronics—the top company by market capitalization in South Korea—and its research center, Samsung Digital City, are located in Yeongtong-gu. This has a profound impact on the district's economic and industrial structure.
The relocation of Samsung Electronics brought economic changes to Suwon. Shortly after the move, Suwon saw rapid development centered around manufacturing, and many local companies grew by enjoying the cluster effect of Samsung Electronics. As a result, Suwon strengthened its status as a hub for the electronics industry and contributed to the revitalization of the local economy. The relocation of Samsung Electronics also contributed significantly to job creation within the region, enabling Suwon to maintain a high employment rate.
The industrial structure of Yeongtong-gu has changed over time. Currently, the tertiary industry—commercial and service sectors—accounts for 90.1% of Suwon’s industrial structure, with business services (20.1%), wholesale and retail (13.4%), and accommodation and food services (10%) making up the majority as of 2014. This service-oriented industrial structure is mirrored in Yeongtong-gu.
However, Yeongtong-gu continues to play a role as a center for manufacturing, particularly high-tech manufacturing. Suwon possesses specialized industries in electronic components, computers, imaging, sound, and telecommunications equipment, and the manufacturing of medical, precision, and optical instruments is also one of the city’s specialized industries. Yeongtong-gu sits at the heart of this high-tech manufacturing.
Recently, the industrial structure of Yeongtong-gu has been diversifying further. A renewal project plan is being prepared to develop industrial zones in Suwon's Yeongtong and Jangan areas into future strategic industrial districts linked to high-tech fields such as semiconductors and artificial intelligence. In particular, smart factories in AI, next-generation communications, smart manufacturing, and IT, as well as the bio-industry (health, medicine), semiconductors, and high-tech R&D are being considered as future industries for Yeongtong-gu.
Approximately 27,000 Households Targeted for Renewal… High Expectations Following the Implementation of the Special Act on Aging Planned Cities
The "Special Act on the Improvement and Support of Aging Planned Cities (Special Act on Aging Planned Cities)," which took effect on April 27, 2024, provides new development opportunities for Yeongtong-gu. This special act is designed to induce integrated renewal by granting various benefits for strengthening urban functions, securing pleasant living environments, and transitioning toward a future-oriented city.
Yeongtong-gu has been confirmed as an area eligible for the application of this special act. The scope of the act was significantly expanded from 51 to 108 areas nationwide, and Suwon's Yeongtong is one of them. As a planned city developed in the mid-to-late 1990s, more than 20 years have passed since its creation, satisfying the criteria for the application of the special act.
According to the special act, aging planned cities like Yeongtong-gu are effectively exempted from safety inspections, and floor area ratios can be increased up to 150% of the legal limit during reconstruction and redevelopment. Furthermore, the public contribution ratio is differentiated into two segments based on the base floor area ratio: 10-40% for the portion up to the base floor area ratio, and 40-70% for the portion exceeding it.
In the case of Yeongtong-gu, it is targeted for renewal at a scale of approximately 27,000 households, set to be the largest renewal project in Suwon. Currently, a preparatory committee for the Yeongtong District Aging Planned City Special Act has been formed to gather resident opinions and act as a communication channel, and the city of Suwon is pushing for the designation of the Yeongtong district as a leading zone for integrated reconstruction through the "Suwon-style Urban Re-creation 2.0 Project."
For successful investment in the Yeongtong-gu real estate market, a strategic approach considering the characteristics and development plans of each area is required. Yeongtong-gu can be broadly divided into Gwanggyo New Town, Yeongtong-dong, Mangpo-dong, Maetan-dong, and Woncheon-dong, each with different characteristics and price ranges.
Apartment complexes in Yeongtong-dong that fall under the Special Act on Aging Planned Cities are particularly noteworthy investment targets. These complexes are in a more advantageous position for reconstruction as they can benefit from exemptions from safety inspections, an increase in floor area ratio by up to 150%, and relaxed public contribution ratios. It is expected that project feasibility will be significantly improved compared to conventional reconstruction methods, providing better living environments while reducing the burden on residents.
Suwon's Yeongtong-gu started as a planned city and has now established itself as the center of Suwon; it is expected to transform into an even more developed version of itself in the future. The presence of major companies including the headquarters of Samsung Electronics, the density of educational institutions such as Ajou University and Kyonggi University, and the relocation of major public institutions including the new Gyeonggi Provincial Government office are all important factors enhancing the value of Yeongtong-gu.
In conclusion, Suwon's Yeongtong-gu has established itself as the center of Suwon based on its past growth and is expected to evolve into a more advanced urban space in the future. The industrial foundation centered on Samsung Electronics, the concentration of educational institutions like Ajou University and Kyonggi University, the relocation of major public offices, the application of the Special Act on Aging Planned Cities, and the progress of various redevelopment and reconstruction projects are all vital factors boosting Yeongtong-gu's value, offering attractive opportunities for real estate investors. Yeongtong-gu is emerging as a hub of future value, and this trend is expected to continue.
Kim Hak-ryeol, the Director of Smart Tube Real Estate Research Institute, known by his pen name "Pasion," served as the head of the Real Estate Research Division at Korea Gallup. He operates and hosts the Naver blog "Pasion's World Exploration" and the YouTube channel "Stue TV." He is the author of books including "The Power of Gyeonggi Real Estate (2024)," "The Absolute Principles of Seoul Real Estate (2023)," "The Future of Incheon Real Estate (2022)," "Kim Hak-ryeol's Absolute Principles of Real Estate Investment (2022)," "Future Map of South Korean Real Estate (2021)," "From Now On, Only Places That Will Rise, Rise (2020)," and "User Guide to South Korean Real Estate (2020)."