Gwangyang, FEZ
- Jeollanamdo is establishing new industrial terrain to lead regional development and create a huge ripple effect that revitalizes the local economy. It does this by prompting balanced development among regions and improving residents’ quality of life.
- Gwangyang Bay Area Free Economic Zone (FEZ)
The Business Overview
- Location: Jeollanam-do Yeosu, Suncheon, Gwangyang, and Gyeongsangnam-do Hadong district
- Development area: 17 complexes in 6 regions. 57.05㎢ (Jeollanam-do: 47.35, Gyeongsangnam-do: 9.7)
- Development perido: 2003 to 2030
- Business expenses: 16 trillion and 4,16 billion KRW (region development: 67,714 infrastructure: 13,604)
- Economic effect: job creation for 240,000 job-seekers; 120,000 people as a sedentary population; $ 40,000 per person for the income generation
Development Region
| Classification | Gwangyang region | Yulchon region | Sindeok region | Hadong region | Gyeongdo region | Hwayang region |
|---|---|---|---|---|---|---|
| Development area | 12.88㎢ | 18.03㎢ | 7.86㎢ | 9.70㎢ | 2.15㎢ | 6.43㎢ |
| Development direction | Attracting distribution function, such as a harbor, steel manufacture, etc | Attracting petrochemical, and steel-related industries | Attracting residential, educational, medical, and leisure functions | Attracting multiple functions, such as the production residence, business, etc. | Attracting tourism, resort, leports (leisure and sports) functions | Attracting tourism, resort, leports (leisure and sports) functions |
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Investment Attraction
- The goal of investment attraction (2003 to 2022)
Realizing the investment of $25 billion and 500 enterprises. 240,000 workers.
- he outcome of investment attraction (2003 to 2021)
Total 429 companies (domestic: 358, overseas: 71); realizing the investment of 22 trillion and 5,72 billion KRW; creating 48,555 jobs
- The prior strategy of investment attraction
Main attraction industries: steel · petrochemistry · new and renewable development industries, government supported R&D institution and empirical national enterprise projects
Main attraction regions: introducing the industrial complex in Gwangyang bay area of Sepung · Yulchon · Daesong