Saemangeum？Gunsan Free Economic Zone
- Hit3820
- Write Date2008-05-03
- 담당부서관리자
Official designation of the Saemangeum․Gunsan Free Economic Zone
Development of next generation industry and tourist·leisure industry…emerging as the hub of the pan-Yellow Sea region
As Saemangeum․Gunsan Free Economic Zone is officially designated, Saemangeum region is emerging as the hub of pan-Yellow Sea Region. At the 25th Free Economic Zone Committee presided by Yun-Ho Lee, Minister of Knowledge Economy, the Korean government announced that 3 new Free Economic Zones are additionally designated that are Saemangeum․Gunsan area, Yellow Sea area (Pyeongtaek·Dangjin) and Daegu·Gyeongbuk area.
The Saemangeum․Gunsan Free Economic Zone that has vision of developing next-generation industry and tourist·leisure industry will be established in the area of total 4 sections (66,980,000㎡) of Gunsan City, Buan-gun, Saemangeum and Gogunsan Islands.
Until the year of 2030, total 5.3 trillion won will be invested in Saemangeum Industrial Complex (18,700,000㎡) and Gunsan International Marine Tourism Complex (4,320,000㎡) to develop production base linked to Gunjang Industrial Complex and international marine tourism complex respectively.
In addition, 8 golf courses will be built in Saemangeum tourism complex (9,900,000㎡) and houses, university and research center will be established in Oksan residential complex (16,590,000㎡) to develop complex self-sufficient city.
Foreign-invested companies in the Free Economic Zone will be benefited by various incentives such as 100% exemption for 3 years from and 50% reduction for 2 years in income tax and corporation tax, reduction in rent and elimination of investment limit.
The additional designation of free economic zone aims to form pan-Yellow Sea Region belt responding to the Chinese Eastern Special Economic Zone. Besides, Saemangeum district is expected to lead the development of pan-Yellow Sea Region belt with its vast area and moderate rent.
Saemangeum district that has focused only on land development now opens to foreign direct investment and the influx of foreign capital becomes active. Under such circumstances, early development and the additional designation of free economic zones of Saemangeum·Gunsan and Yellow Sea region with Incheon Free Economic Zone (IFEZ) and Gwangyang Free Economic Zone (GFEZ) will allow the establishment of pan-Yellow Sea Region belt to compete with China.
Jeollabuk-do will take necessary steps to change land register and administrative steps to establish free economic zone authority by the end of this year to build and manage Saemangeum·Gunsan economic zone. By doing so, Saemangeum will get the comparative upper hand including the vast area where huge scale of development project is possible and moderate rent as the area is state-owned land.
Also with relative ministries such as Ministry of Knowledge Economy and Ministry of Food, Agriculture, Forestry and Fisheries, it will take follow-up measures including selection of subcontractors, application for reclamation permission of Gongyusu-myeon and assessment of environmental impact and secure dredged soil. Saemangeum․Gunsan Free Economic Zone is expected to make sound economic profit of 28.5 trillion won and create approximately 190,000 jobs in addition to the globalization of the region, strengthening of region's innovative capacity and balanced development of land.
Wanju Kim, governor of Jeollabuk-do, said "the designated economic zones will serve as a stepping stone for Jeollabuk-do to develop economically and we are ready to realize the miracle of Saemanguem that surpasses that of Dubai.
Development of next generation industry and tourist·leisure industry…emerging as the hub of the pan-Yellow Sea region
As Saemangeum․Gunsan Free Economic Zone is officially designated, Saemangeum region is emerging as the hub of pan-Yellow Sea Region. At the 25th Free Economic Zone Committee presided by Yun-Ho Lee, Minister of Knowledge Economy, the Korean government announced that 3 new Free Economic Zones are additionally designated that are Saemangeum․Gunsan area, Yellow Sea area (Pyeongtaek·Dangjin) and Daegu·Gyeongbuk area.
The Saemangeum․Gunsan Free Economic Zone that has vision of developing next-generation industry and tourist·leisure industry will be established in the area of total 4 sections (66,980,000㎡) of Gunsan City, Buan-gun, Saemangeum and Gogunsan Islands.
Until the year of 2030, total 5.3 trillion won will be invested in Saemangeum Industrial Complex (18,700,000㎡) and Gunsan International Marine Tourism Complex (4,320,000㎡) to develop production base linked to Gunjang Industrial Complex and international marine tourism complex respectively.
In addition, 8 golf courses will be built in Saemangeum tourism complex (9,900,000㎡) and houses, university and research center will be established in Oksan residential complex (16,590,000㎡) to develop complex self-sufficient city.
Foreign-invested companies in the Free Economic Zone will be benefited by various incentives such as 100% exemption for 3 years from and 50% reduction for 2 years in income tax and corporation tax, reduction in rent and elimination of investment limit.
The additional designation of free economic zone aims to form pan-Yellow Sea Region belt responding to the Chinese Eastern Special Economic Zone. Besides, Saemangeum district is expected to lead the development of pan-Yellow Sea Region belt with its vast area and moderate rent.
Saemangeum district that has focused only on land development now opens to foreign direct investment and the influx of foreign capital becomes active. Under such circumstances, early development and the additional designation of free economic zones of Saemangeum·Gunsan and Yellow Sea region with Incheon Free Economic Zone (IFEZ) and Gwangyang Free Economic Zone (GFEZ) will allow the establishment of pan-Yellow Sea Region belt to compete with China.
Jeollabuk-do will take necessary steps to change land register and administrative steps to establish free economic zone authority by the end of this year to build and manage Saemangeum·Gunsan economic zone. By doing so, Saemangeum will get the comparative upper hand including the vast area where huge scale of development project is possible and moderate rent as the area is state-owned land.
Also with relative ministries such as Ministry of Knowledge Economy and Ministry of Food, Agriculture, Forestry and Fisheries, it will take follow-up measures including selection of subcontractors, application for reclamation permission of Gongyusu-myeon and assessment of environmental impact and secure dredged soil. Saemangeum․Gunsan Free Economic Zone is expected to make sound economic profit of 28.5 trillion won and create approximately 190,000 jobs in addition to the globalization of the region, strengthening of region's innovative capacity and balanced development of land.
Wanju Kim, governor of Jeollabuk-do, said "the designated economic zones will serve as a stepping stone for Jeollabuk-do to develop economically and we are ready to realize the miracle of Saemanguem that surpasses that of Dubai.