GWANGJU < invest Korea

Gwangju Technopark(TP) said on February 7 that it is actively working on preparation for the designation of regulation-free zones with conducting demand survey of innovative and growth businesses.

The regulation free zones are designated in non-capital areas to allow new businesses to develop more freely with various regulations being exempted or delayed. Loosening regulations for innovative and growth businesses, often deterred by various regulations imposed on products and services adopting new technologies, and providing tax and financial benefits are core part.

Gwangju TP is planned to conduct a demand survey by February 20 to identify innovative and growth businesses for regulation free zones.

The recent passage of legislation regarding regulation-free zone by the National Assembly is expected to help regional companies develop technologies or promote businesses.

A president of Gwangju TP said "we will spare no effort in supporting local companies so that they can freely develop, test, and sell innovative technologies" adding that "we will endeavor to set a model of vibrant local industries promoted by job creation and enterprises' sales growth, supported by regulation-free zone".

kykoo1@newsis.com

Source Text

** This article was translated from Korean.

Source: Newsis (February 7, 2019)