An aerial view of the Samsung Electronics factory in Gyeonggi Province/Korea Times file

By Yi Whan Woo

Real estate values ​​are rising in areas where Samsung subsidiaries operate or their investments are underway, data showed on Sunday, indicating the influence of the country’s No. 1 conglomerate on regional markets and economies.

According to housing price information provider R114, the average housing price in Suwon’s Yeongtong District, where Samsung Electronics’ headquarters in Gyeonggi Province is located, is 27.7 million won. ($22,000) for 3.3 square meters.

This is more than the average house price in Suwon at 21.9 million won for 3.3 square meters.

“It can definitely be attributed to Samsung’s presence,” R114 said.

He pointed out that a total of nine apartment complexes that were built after Samsung Electronics moved its headquarters to the area in 2016 have all been sold.

In particular, the price more than doubled for one of the complexes after it went on sale.

In Pyeongtaek, home to Samsung Electronics’ semiconductor factory in Gyeonggi Province, competition has reached double digits for most apartments in three different complexes built in 2020 near the factory.

Samsung Display and Samsung SDI are among the conglomerate’s subsidiaries that invest heavily in research in the cities of Cheonan and Asan in South Chungcheong Province.

The average land price for 3.3 square meters is 10 million won in Cheonan and 9.7 million won in Asan.