The General Industrial Complex No. 3 Foreign Investment Zone in Iksan City, North Jeolla Province (Jeonbuk) was designated a comprehensive bonded zone in June, which is the seventh in Korea and second in Jeonbuk.

The designated area includes a complex for foreign parts and material manufacturers (320,440-square meter) and a foreign investment zone (244,699-square meter).

A comprehensive bonded area can relieve tariff burdens for companies by offering zero-tariffs to exporters that import raw materials and export manufactured products or allowing them to choose between tariff benefits for raw materials or products even when selling the products in Korea.  

Source Text

Source: Yonhap News (Jun. 4, 2012)

** This is the translation of a Korean article.