CHUNGCHEONGBUK-DO < invest Korea

According to Yonhap News,

Chungbuk Free Economic Zone (CBFEZ) announced on Dec. 17 that businesses who settle into the FEZ hit annual sales record 36% higher than that of last year as of Dec. 2018.

Nearly 95 residents were reported to run business inside the CBFEZ in 2018.

The number of businesses with the size of five employees turned out to be 55 in 2017, up from 49 in 2018. The entire volume of employment has also increased by 20 percent (1.291 in total). Annual sales in 2018 topped KRW 237.4 billion, 36 percent up from KRW 174.3 billion in 2017.

Enterprises who reside in the FEZ, however, have long complained of a shortage of financial & human resources, saying they hope CBFEZ help diversify bus service routes and optimize time interval that shortens passenger waiting time, which will definitely form larger traffic networks. They also wanted to have more local amenities and entertainment facilities where tenants can enjoy shopping and leisure activities.

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Source: Yonhap News (Dec. 17, 2019)