EFEZ, East coast Free Economic Zone

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  • What is EFEZ?
  • Bukpyeong Industrial Composite Industrial District
  • Mangsang Flora City
  • Okgye Advanced Materials Convergence Industrial District
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What is EFEZ?

Best place for investment in the Pan-East Coast Region, The East Coast Free Economic Zone

Various tax incentives, softened regulations for free economic activity, and convenient living environments and simple administrative service. Guarantee free and wide-range corporate activities.

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.

Overview of East coast Free Economic Zone Project

  • Designation Date : Feb 14, 2013 (based on Ministry of Knowledge Economy Public Notice 2013-35)
  • Total Project Cost : 1.7,979 trillion won
  • Project Period : 2013 to 2024 (12 years)
  • Project Area : 8.86㎢
  • Development Vision : Construction of northern economic center by fostering advanced materials industry
  • Development Area : East Coast of Gangwon-do (Gangneung, Donghae)
  • Spatial Composition : 3 districts in the East Coast Port Area
    • Location: Bukpyeong-dong (Guho-dong, Danbong-dong) and Mangsang-dong of Dongae, Okgye-myeon of Gangneung
    • Inter-district Connection : All districts connected in a 17km radius from Bukpyeong, Donghae (20 minutes)
    • Inter-district Transportation : Road (Route 7 and Donghae Expressway), Rail (East Coast Inland Railway)

map

District Name Location Area (㎢) Composition Rate (%)
Donhae Bukpyeong International Logistics &
Business / High Tech Material &
Component Industry Complex
Guho-dong and Danbong-dong in Donghae City 2.08 23.5
Mangsang Four-season Best Marine &
Tourist Complex
Mangsang-dong, Donghae 6.39 72.1
Gangneung Okgye High Tech Material &
Component Convergence Industry Complex
Okgye-myeon,Gangneung 0.39 4.4
3 districts 8.86 100.0