GANGWON-DO < invest Korea

According to Yonhap News,

As the key strategic industries of the East coast Free Economic Zone (Efez), 3 industries including rest-type tourism and leisure, hydrogen energy, and high-tech materials and parts have been selected.

The EFEZA said on November 11 that the government held the 126th FEZ committee meeting, and decided these 3 industries and 40 industrial classification codes as the key strategic industries of the Efez.

The rest-type tourism and leisure industries include Hotel Business, Resort Condominium Business, Performance Facility Business, and Duty-Free Shops, related with the project to create an international multi-functional tourism city with potential for settlement in Mangsang District, Donghae.

The EFEZA expects it would gain momentum in attracting investment, planning to develop as the tourism mecca of the East-sea Rim.

With regard to the hydrogen energy industry, it will foster as the base area of hydrogen energy in connection with demonstration of renewable energy, the regulation free special zone for liquefied hydrogen, creation of hydrogen storage and transport cluster which are underway focused on Bukpyeong district, which will maximize the effect of Gangwon Green New-Deal.

Concerning the high-tech materials and parts industry, it will push for concentration of high-tech parts and materials companies such as lightweight materials, secondary battery, metal powder, hydrogen storage and alloy sectors in the Okgye District, in link with the project to build high-tech industry convergence platform focused on materials such as ceramics and lightweight metals in Gangneung.

In particular, companies investing in key strategic industries will be receiving stronger support, such as local investment subsidy, facility subsidy, and locational benefits such as reduction in rental fees, occupancy in dedicated land, and permission of optional contract, among others. The EFEZA plans to attract investment of companies in key strategic industries, through the 2nd lease notice for Bukpyeong District long-term lease complex scheduled for December, and lease notice for the Okgye District scheduled for the first half of next year.

yoo21@yna.co.kr


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Source: Yonhap News (November 11, 2021)