What is a Free Economic Zone?
Definition of Free Economic Zone
Free Economic Zones (FEZs) refer to a system implemented to boost national competitiveness and encourage foreign investment by enhancing the business climate and living conditions for foreign nationals. It is a special economic zone created to offer the best conditions for the international business activities of companies that are required by the advancement of globalization.
- Geopolitical Location
- At the center of Northeast Asian economies
- A city of Airports, Ports, Tourism · leisure
- Foreigner-friendly living conditions
- Special zones with a relaxed implementation of international laws
(enactment of the Special Act on the designation and management of Free Economic Zones)
- Optimal expansion of state-of-the-art infrastructure
- Digital infrastructure to support business activities
- High-tech information industrial park to foster new industries such as IT/BT
- Pleasant living environment to maintain high-quality personnel at home and abroad