Definition of Free Economic Zone
Free Economic Zone is a specially designated area created to strengthen the national competitiveness of Korea and to promote foreign investment by offering improved business environment to foreign-invested enterprises in Korea and better living environment for foreigners. It basically offers the optimal environment for enterprises doing international businesses in this global world.
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Free Economic Zone
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01 One-Stop
administrative services
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02 Foreign educational institutions/
and hospitals
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03 Foreign language services,
foreign currencies and broadcasting
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04 Tax exemptions
and incentives
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05 Relaxed
regulations
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Geopolitical Conditions
- The center of Northeast Asian economy
- A city that holds an airport, ports and tourism/leisure activity sites
Foreigner-Friendly Living Environment
- A special zone with relaxed domestic regulations (Special Act on Designation and Management of Free Economic Zones)
Cutting-Edge Infrastructure
Optimal for Global Business
- Digital infrastructure that supports business activities
- Advanced information industry complex that promotes new industries such as IT and BT
- Pleasant living environment for advanced domestic and foreign workforce