Korean Free Economic Zones

Korean Free Economic Zones is rated 3 out of 5 in the category government administration. Read and write reviews about Korean Free Economic Zones. Free Economic Zone means a specially designated economic zone to positively induce investment from foreigners through improving the managerial and living environment of foreign-invested firms and implementing deregulations for heightened enterprise activities and investment incentives. The Korean government provides a variety of tax benefits, ease of regulatory measures, convenient life environment, swift administrative services for foreign-invested firm and foreigners. ◈ Endeavor to induce multinational corporations as many as possible by establishing economic and social institutions leading the global trends and providing a variety of incentives ◈ Develop the world-top urban centers comprising the ultra-modern airport, harbor, office facilities, and pleasant schools, hospital and tourism complex facilities [Designation Status (as of June 2012)] A total of 6 FEZs have been designated and are under operation: *1st phase - 3 zones (2003: Incheon, Busan/Jinhae, Gwangyang Bay Area), *2nd phase - 3 zones (2008: Yellow Sea, Daegu/Gyeongbuk Knowledge Creation, Saemangeum/Gunsan)