Article Categories Recommended Products Buying Leads Show e-Book e-Newsletter

   HOME  >  Introduction to Major FEZs in South Korea  
 
Special Economic Zone for Knowledge Creation

Daegu-Gyeongbuk Free Economic Zone
Created in 2008, the Daegu-Gyeongbuk Free Economic Zone Authority is a special government agency that offers customized facilities and space (manufacturing, R&D, logistics) for companies operating in the Korea and Asia-Pacific market. DGFEZ also provides financial incentives and relaxed government regulations for global companies.

The Daegu-Gyeongbuk Free Economic Zone has 10 sites located in the heart of 3 major manufacturing and R&D clusters (Transportation, Green Energy, IT/ Electronics). Companies are provided with the opportunity to work in a high-quality living and working environment while maximizing synergies with knowledge-based services and manufacturing companies. The DGFEZ is strategically positioned to serve international companies looking to expand into Asia - whether it is for manufacturing, research and development (R&D) or logistics.

The bustling 30-square-kilometre hub encompasses the cities of Daegu, Gumi, Gyeongsan, Yeongcheon and Pohang. It includes 10 key industrial districts, ranging from automotive components to software, health care and alternative power. “We welcome investors, talents, R&D and educational institutions alike to take advantage of these strengths - and create a big, synergistic global joint venture. All these come with the added benefit of financial incentives and relaxed regulations,” says DGFEZ Authority commissioner Choi Byung-rok. “It is our vision to help them succeed, just like how we saw the rise of Samsung, LG Display, Hyundai and POSCO, which share roots in Daegu-Gyeongbuk.”

Similar roots run deep in the region, with nearly 13 percent of South Korea's manufacturers and about 500 multinational companies calling it home even before DGFEZ was established in 2008. With further development of the zone in full gear, the number of global companies is expected to grow by as much as four times by DGFEZ's completion in 2020.

Such transformation will be bolstered by an equally impressive base of supporting industries that includes 153 R&D centres and 400 automotive suppliers. High-quality human resources are guaranteed, with 52 universities and colleges annually producing 70,000 graduates including engineers, medical practitioners and digital content specialists.

These are key to boosting industry districts such as Daegu Technopolis, which is designated as a special R&D zone equipped for automotive, machinery, information technology convergence and green energy. The Technopolis will also enable tenant companies to participate in national projects and receive additional incentives.

Among such projects is the Medivalley, a medical complex that will centralise an international hospital and various medical and pharmaceutical R&D activities aimed at advancing the health care industry. The US$4.5 billion project is slated to open next year.

Interested investors can rely on DGFEZ's one-stop service programmes, which guide resident companies from feasibility study to registration and after-service assistance. “Daegu-Gyeongbuk will be the next beacon of industrial development,” Choi said. “We have a proven success model - founded on stable economic infrastructure and talented manpower - that we are eager to share with the world.”

Other Articles

The Global Hub for International Business and Logistics  [Issue No. 462]

Global Business Utopia Incheon Free Economic Zone: Seeking various creative ways to become the world’s third biggest FEZ in 2020  [Issue No. 462]

Korean FEZs Accelerating Their Steps toward Becoming the Hub of Northeast Asia  [Issue No. 462]

Gearing up to become the world’s best center of industry and logistics  [Issue No. 462]

 
   Article Categories
Special Report

Cover Story

Industry In-Depth

Pioneers

World-OKTA

Company to Watch

Focus

Expo Preview I

Expo Preview II

Export Leader

The Excellent Company Brand of Seoul

KIMES 2011

KOTRA Seal of Excellence

World-Class Products of Korea

EXCO

COEX

KINTEX

BEXCO

CECO

KIMDAEJUNG CONVEN..

GSBC

Korea’s Globally Competitive Exhibitions

Industry Trends

Korea’s Major Exhibitions in 2011

KEITI

Special Features

Hi Seoul Brand Project

Products Recommended by KICOX

KEPCO KDN

KOAMI

Best Products from Chungbuk, Korea

2011 G-FAIR KOREA

BEPA (Busan Ecinimic Promotion Agency)

The Excellent Company in Suwon, The Republic of Korea

Industry Trends

Spotlight

FTA Feature

The Best Companies of Seongdong-gu, Seoul

Exhibition Preview

Trade News

Tourist Attractions

Introduciton to BJFEZ

Introduction to KITA

Expo Preview

New Excellent Product

Best Products from Jeollanam-do, Korea

G-FAIR KOREA

The Best Trader of The Month

Introduction to Major FEZs in South Korea

Gangdong-gu Office

exco

SETEC

Introduction to GFEZ

2013 Automotive Week

Special reportⅡ

Introduction to KOTRA

Seoul Motor Show 2013

New & Hot

Maekyung Buyersguide Corp.'s Korea Buyers Guide, an overseas publicity / marketing magazine for Korean merchandise,
has proudly contributed to export expansion of South Korea for more than 30 years since January 1974.
About Us     |     Subscription     |     Agent Wanted     |     Free Copy Event     |     Contact Us
Copyright(c) 2015 Maekyung BuyersGuide Corp. All right reserved.