A New Hub of International Cooperations in High-tech Industries
2009.08.24(월) | CNnews ( chungnamdo@korea.kr)
The zoning of the Yellow Sea Coastal Areas as a Free Economic Zone driven by the Chungnam Province and the Gyeonggi Province was confirmed on April 25, 2008. The Korean Central Government finally confirmed and announced the zoning of the Yellow Sea Free Economic Zone over the 5 districts as Songak, Inju, Jigok, Poseong and Hyangnam in the 2 Provinces.
Near that Free Economic Zone is located the largest industrial cluster of the next-generation engine industries. Such famous companies as Samsung Electronics, Hyundai Motors, Kia Motors, Ssangyong Motor, Renault Samsung Motors are clustered in the Zone. Moreover, many R&D Centers, Colleges and relevant businesses also situated in near areas. These excellent surroundings give investors the best chance to invest domestic and foreign capitals and make this zone the world-class industrial cluster.
Establishment of the Yellow Sea Free Economic Zone Office in DangJin
Chungnam Province and Gyeonggi Province agreed to establish Yellow Sea Free Economic Zone Office in Dangjin to provide efficient administrative services and improve business environments for foreigners. According to the roadmap, competitive development companies which can build a world-class city will be selected at first and the executive plans will be confirmed. Then those plans will be commenced next year and finally the office will be opened by July, 2008. The Office is expected to devote total strength, with the full supports of central government, for constructing necessary facilities and inducing foreign companies to move in the zone. And the office is anticipated to go smoothly and expedite the development works.