Location of the Yangjae AI special zone. (Seoul Metropolitan Government)

According to Pulse by Maeil Business News Korea,

Seoul Metropolitan City has designated Yangjae in southern Seoul as the city’s first artificial intelligence (AI) special zone under the Korean government’s regional special zone program.

The city government announced on Sunday that the regional special zone committee of the Ministry of SMEs and Startups approved the Yangjae AI special zone during a meeting last Thursday.

The program offers regulatory exemptions to help local governments pursue development projects tailored to regional characteristics. The Yangjae AI zone will implement six regulatory exemptions, including those related to patent and immigration laws, which in turn include prioritizing patent applications to speed up technology transfer and commercialization. Additionally, promising foreign professionals involved in AI projects will benefit from relaxed visa requirements and extended residence periods.


By Ahn Byoung-jun and Chang Iou-chung

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Source: Pulse by Maeil Business News Korea (December 3, 2024)