IFEZ 인천경제자유구역 로고

Step 01Designation as an IFEZ Development Project Implementer

• Designation Criteria
  
  • Ability to attract foreign investment
  • Financial soundness and fund procurement capabilities are required
  • Experience implementing similar development projects
  • Details stated by the Minister of Planning and Finance for the smooth implementation of development projects

Step 02Application for approval of the development project implementer's implementation plan

• Apply to the Minister of Trade, Industry and Energy (submit a copy of the implementation plan to the city or provincial governor)
• Required Documents
  
  • Fund procurement and investment, recovery plan, and corresponding support documents
  • Foreign Investment Attraction Plan
  • Land purchase, compensation plan, and residents' relocation plans
  • Use, revenue, management and disposal of the land and facilities to be created
  • Statement of Environmental Impact

Step 03Approval/Notice from the Minister of Trade, Industry and Energy

• Written notification within 6 months from the date of application
• The same guidelines apply to the updated approval status
• Consultation with the Governor and Mayor -> Deliberation and decision of the IFEZ Committee
• Processing of authorization and permits (gather opinions of heads of relevant administrative agencies within 30 days)

Step 04Completion Inspection

• Commencement should be within one year from the date of approval of the implementation plan
• The deadline for project commencement can be postponed only once within the span of one year.

Step 05Management/Disposal Plan

• Management/operation of sites and facilities must be in accordance with the revenue management and disposal plan