IFEZ - Business

Business

Establishment of Cheongna BMW R&D Center

Date 2023-04-27
Hit 93

Cheongna BMW R&D Center

Opening the Future of

Korean-German Mobility Research

With the signing of a land-lease contract for the BMW R&D Center’s construction in Cheongna International City,

the promotion of this project began in earnest. The BMW R&D Center will be completed in 2024 and is expected to contribute to future mobility research through technological exchanges between Germany and Korea.

Construction to Begin Early This Year, to Be Completed in 2024

On February 17, IFEZ held a meeting at Incheon City Hall for a land-lease contract between BMW Korea and the Korea Land and Housing Corporation (LH) to build a BMW R&D Center. With the establishment of this center, BMW plans to gain the upper hand in the automotive market, including electric vehicles, which is growing even fiercer. In addition, the company expects that the center will help to preemptively respond to market changes by introducing innovative products and collaborating with domestic technology companies. BMW will provide more optimized solutions and mobility services for the Korean market and will strengthen cooperation with domestic companies, universities, and government research institutes.

Through this land-lease contract, BMW Korea, a subsidiary of BMW in Germany, will commit to a long-term lease for a 5,295-square-meter urban industrial complex site in Incheon Hi-tech Park (IHP) in Cheongna (from LH) for up to 30 years. BMW plans to start construction on the R&D Center in the first half of this year and to complete it in 2024.

Location IHP Urban High-tech Industrial Complex, Cheongna-dong, Seo-gu, Incheon

Area 5,295㎡

Start of Construction 1st half of 2023

Completion Scheduled for 2024

Research on Future Mobility

The BMW R&D Center plans to research future mobility fields by promoting technological exchanges between Germany and Korea, such as for autonomous driving, connectivity, and electrification technologies, in cooperation with the German headquarters. The center, which includes facilities ranging from product development to testing, is expected to contribute to job creation in Korea. The test-lab facility opened with the research institute will have a separate space and equipment for vehicle certification and verification of electrification technology.

In 2015, the fifth international BMW R&D Center opened in Korea, following openings in the U.S., China, Japan, and Brazil. With this land-lease contract and related investment, the center will be expanded and relocated to Cheongna IHP. IFEZ expects the establishment of the BMW R&D Center to significantly contribute to inducing production across various industries, creating jobs, import-substitution effects, and increased exports.

“Following the MOU in 2014 and a business agreement in 2022,

I am so glad for the signing of this contract for relocation and expansion of the business site. We will provide the best administrative support necessary for the successful establishment and operation of the BMW R&D Center in the future.”

Yoo Jeong-bok, Mayor of Incheon Metropolitan City

“BMW R&D Center Korea symbolizes the development of electrification, autonomous driving, and digital-based future mobility technologies. This center will create opportunities for cooperation between the German headquarters and excellent Korean companies, as well as for Korean companies to enter the global market.”

General Director of the Dieter Strobl R&D Center