Korean Free Economic Zone


Korea Free Economic Zones are designated to strengthen national competition for businesses and promote balanced regional development by improving living conditions and business environments for foreigners in South Korea. Korea's economic zone planning office is in charge of this project. The Korean government provides a variety of tax benefits for foreign firms and foreigners, as well as a simpler regulatory regime, a favorable living environment and swift administrative services. KFEZ endeavors to establish economic and social institutions that lead global trends and provide a variety of incentives.
In 2021, Foreign Direct Investment in FEZ upraised 42%, receiving $1.31 billion. Manufacturing sector leads foreign investment, followed by service segment, such as logistics and research and development. The European Union led the investment in the FEZ of South Korea.

Districts

DistrictLocationFocus IndustriesStarting DateWebsite
Incheon FEZIncheonIT, BT, international finance, tourism & leisureAugust 6, 2003
Busan/Jinhae FEZBusan
South Gyeongsang Province		maritime logistics, shipbuildingMarch 30, 2004
Gwangyang FEZSouth Jeolla Province
South Gyeongsang Province		maritime logistics, materialsMarch 24, 2004
Yellow Sea FEZSouth Chungcheong Province
Gyeonggi Province		automobile components, value-added logisticsJuly 22, 2008
Saemangeum/Gunsan FEZNorth Jeolla Provinceautomobiles, shipbuilding, green industriesAugust 28, 2008
Daegu/Gyeongbuk FEZDaegu
North Gyeongsang Province		education, medical, knowledge-basedAugust 13, 2008
Chung Buk FEZNorth Chungcheong Provincetourism, automobile componentsApril 26, 2013
East Coast FEZDonghae
Gangwon Province		IT components, logistics, tourismJuly 9, 2013