What is the East coast Free Economic Zone?
- The East coast Free Economic Zone is the official name of the free economic zone being developed to construct the Gangwon-do's East Coast area into the center of the Pan-East Coast economic belt by fostering advanced green materials industries, global tourism, leisure industries, and by establishing an international logistics and business complex, and an international city.
What is a Free Economic Zone?
Free Economic Zones refer to special economic zones for attracting foreign investments by guaranteeing maximum investment attractions and freedom in economic activities for companies by improving the management environment and living conditions for foreign-invested companies and softening various regulations. In addition, it guarantees free and wide-range corporate activities by offering various tax benefits, softened regulations for free economic activities, convenient living environments, and simple administrative services.
Free Economic Zones refer to special economic zones for attracting foreign investments by guaranteeing maximum investment attractions and freedom in economic activities for companies by improving the management environment and living conditions for foreign-invested companies and softening various regulations. In addition, it guarantees free and wide-range corporate activities by offering various tax benefits, softened regulations for free economic activities, convenient living environments, and simple administrative services.
Overview of East coast Free Economic Zone Project
- Designation Date : Feb 4, 2013 (based on Ministry of Knowledge Economy Public Notice 2013-35)
- Total Project Cost : 807.05 billion won
- Project Period : 2013 to 2024 (12 years)
- Project Area : 4.47㎢
- Development Vision : Construct an economic hub in northeast Asia by creating a luxurious tourist industry and high-tech material industry
- Development Area : East Coast of Gangwon-do (Gangneung_si, Donghae_si)
- Spatial Composition : 3 districts in the East Coast Port Area
- Location: Guho-dong and Mangsang-dong of Donghae_si, Okgye-myeon of Gangneung_si
- Inter-district Connection : All districts connected in a 17km radius from Bukpyeong, Donghae_si (20 minutes)
- Inter-district Transportation : Road (Route 7 and Donghae Expressway), Rail (East Coast Inland Railway)
| District Name | Location | Area (㎢) | Composition Rate (%) | |
|---|---|---|---|---|
| Donhae | Bukpyeong International Logistics & Business / High Tech Material & Component Industry Complex |
Guho-dong, Donghae_si | 0.15 | 3.4 |
| Mangsang International Multifunctional Tour City | Mangsang-dong, Donghae_si | 3.94 | 88.1 | |
| Gangneung | Okgye High Tech Material & Component Convergence Industry Complex |
Okgye-myeon,Gangneung_si | 0.38 | 8.5 |
| 3 districts | 4.47 | 100.0 | ||
