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Region selection
Korea’s 17 local
governments provide
specialized investment
environments and services.
governments provide
specialized investment
environments and services.
Seoul, emerging as the
Northeast Asia’s
business hub
Seoul, the capital of Korea, is rising rapidly as the Northeast Asia’s business hub. It is geographically situated between Asia’s two largest economic powers including China and Japan. Although making up 0.6 percent of Korean territory, Seoul generates 21 percent of the national GDP and serves as a financial hub in which more than 50 percent of finance is concentrated.
- Population : 9,668,465
- Key Industries : Artificial Intelligence (AI), Fintech, IT convergence engineering
- Number of Companies : 823,416
- Employees : 5,224,805
- Amount of Production(unit: one billion dollars) : 353.6
Incheon, leading the
economic development
of Korea
Only 28 kilometers away from Seoul, Incheon has led the economic development of Korea by expanding the Incheon Port, opening the Incheon International Airport in March, 2001, building various industrial, logistics, tourism and leisure complexes and new types of residential facilities, developing Songdo International City, Cheongna and Yeongjong districts, establishing the Free Economic Zone Authority in October, 2003 and hosting the 2014 Asian Games.
- Population : 2,942,828
- Key Industries : High-tech auto engineering, robotic engineering, bio-healthcare, beauty, aviation, logistics, tourism, Green Climate Fund (GCF)
- Number of Companies : 206,183
- Employees : 1,092,389
- Amount of Production(unit: one billion dollars) : 75.4
Gyeonggi Province, the
hub connecting East
Asia and the Pacific
As the center of Northeast Asia, Gyeonggi Province offers a favorable investment environment for promoting business activities in China and other countries. The province also provides excellent transport infrastructure and customized support services to encourage investment to enable the companies to efficiently and successfully pursue their business activities.
- Population : 13,427,014
- Key Industries : Bio-healthcare, Artificial Intelligence, Big-data, Media/ content, Semiconductor, Materials-parts
- Number of Companies : 934,197
- Employees : 5,301,867
- Amount of Production(unit: one billion dollars) : 397.5
Gangwon Province, the
Mecca of Korean
tourism and leisure industry
The expressways, Yangyang International Airport and Donghae Port provide easier access to Seoul and other metropolitan cities in Korea. Also, its transportation and other industrial infrastructure for mass production support business activities. The province helps corporations to capitalize on the professional human resources cultivated by some 140 educational institutions. As the host for the Pyeongchang Winter Olympics 2018, it is considered the Mecca of Korean tourism and leisure industry.
- Population : 1,542,840
- Key Industries : Natural bio products, ICT-based digital healthcare, Ceramic matrix composites (CMCs)
- Number of Companies : 146,782
- Employees : 669,819
- Amount of Production(unit: one billion dollars) : 39.4
South Chungcheong
Province, located at the
center of Korea
South Chungcheong Province, located at the center of Korea, can reach any regions in Korea within two hours. The province boasts its optimal investment environment with abundant human resources, perfect social overhead capital, reasonably priced land, the cheapest and most stable electricity supply and enough industrial water.
- Population : 2,121,029
- Key Industries : Smart (Human) bio technology, Green mobility, Next-generation display
- Number of Companies : 176,563
- Employees : 973,844
- Amount of Production(unit: one billion dollars) : 97.6
Daejeon,
the City of Science & the Center of State Administration
After the hosting of Expo 1993 Daejeon and the establishment of Daedeok Innopolis, Daejeon has become a representative city of science and technologies. With the Government Complex Daejeon (14 entities) and a convenient transportation network that bridges it and the Government Complex Sejong, which lies adjacent to Daejeon, the city serves as the center of the state administration in Korea.
- Population : 1,445,221
- Number of Companies : 164,095
- Number of Employees : 688,457
- Economic Output (Unit: USD 1 billion) : 32.3
Sejong Special Self-
Governing City is the
administrative capital of
Korea.
The city was built to balance the national development and enhance the national competitiveness by resolving the adverse effects caused by the excessive concentration in Seoul. With the international science business belt project, the city is attracting scholars around the world. It is also becoming the pivot of the national growth network by converging science and business.
- Population : 355,831
- Key Industries : Smart city, Smart green versatilely applicable parts & materials
- Number of Companies : 18.035
- Employees : 125,372
- Amount of Production(unit: one billion dollars) : 9.6
North Chungcheong
Province, a gateway to
Sejong City
North Chungcheong Province boasts its well-established transport infrastructure including Cheongju International Airport, KTX Osong Station and grid highways. The province is also known for its best IT and BT industry, industrial complexes in Osong and Ochang, excellent infrastructure, optimal industrial sites and skilled workers.
- Population : 1,600,837
- Key Industries : Bio-healthcare, Components of smart devices, Transporting equipment/machine parts
- Number of Companies : 133,419
- Employees : 740,846
- Amount of Production(unit: one billion dollars) : 57.6
North Gyeongsang
Province, the hub of the
global electronic and
textile industry
North Gyeongsang Province has driven the Korean economy as the hub of the global electronic and textile industry. It has abundant human resources in research and development. It is also home to 47 universities, the second largest following Seoul. The province is the perfect place for investment with its well-established transportation network including expressways, railways and airports, abundant land for industrial use, talented industrial human resources and business strategies.
- Population : 2,639,422
- Key Industries : Smart digital device, New and advanced materials / parts processing, Lifecare beauty, Greener, omni-purpose textile materials production
- Number of Companies : 236,745
- Employees : 1,149,942
- Amount of Production(unit: one billion dollars) : 90.3
Jeollabuk-do,
playing a central role in
Korea’s trade with
China
Jeollabuk-do boasts its clean environment, prosperous history and culture and unique traditional food, fashion and music. Its on-going projects including Saemangeum Project and New Gunjang Port make the province play a central role in Korea’s trade with China. It is diversifying its businesses from paper and textile to automobile and shipbuilding. Since 2007, it has been developing new growth engines such as components and materials, food and renewable energy.
- Population : 1,804,104
- Key Industries : Smart agro-science / F&B, Intelligent machine, Carbon/composite materials engineering, Shipbuilding & maritime /energy
- Number of Companies : 154,082
- Employees : 720,052
Daegu, a high-tech
industry city based on
industrial infrastructure
Daegu City is renowned for its cutting edge industry based on its well-established industrial infrastructure. The city has been actively engaged in various national projects, such as designation of special R&D zone, development of knowledge-creation free economic zone and establishment of national science industrial complex, technopolis, comprehensive cutting edge medical complex and robotic industry cluster, and regional development project.
- Population : 2,418,346
- Key Industries : Highly efficient energy system, Digital medical-healthcare services, Transporting equipment /machine parts manufacturing
- Number of Companies : 210,867
- Employees : 967,455
- Amount of Production(unit: one billion dollars) : 46.9
Gwangju, a good place
to do business and
work in, and the city of
justice and abundance
The justice of Gwanju will now create abundance. It is taking another leap towards more open and embracing city and economic ecosystem where anyone with great technology can succeed. While the competitiveness of automobile, electronics, photonics and mold & die industries are reinforced through convergence and integration with new technologies, new businesses of energy industry and cultural contents industry are developed as growth engines in the era of the Fourth Industrial Revolution.
- Population : 1,450,062
- Key Industries : Smart home appliance solutions, Photonics convergence, Smart molding solutions, Digital biomedical technology
- Number of Companies : 123,631
- Employees : 631,134
- Amount of Production(unit: one billion dollars) : 33.8
South Jeolla Province, a
gateway to China
Northeast Asia is expected to play a pivotal role in the global trade and logistics in the 21st Century. At the center of Northeast Asia lies South Jeolla Province boasting a business-friendly environment including the designation of Daebul Free Economic Zone and Gwangyang Bay Area Free Economic Zone. It is serving as a gateway to China by helping local companies expand their businesses to the Pacific region.
- Population : 1,851,549
- Key Industries : Low carbon, smart materials & parts manufacturing, Green energy, High-tech transport equipment parts, Bio-healthcare
- Number of Companies : 161,823
- Employees : 774,043
- Amount of Production(unit: one billion dollars) : 64.2
South Gyeongsang
Province, a massive
consumer market of 15
million people
South Gyeongsang Province has a massive consumer market of 15 million people with its advantage of being adjacent to the Southeastern industrial cluster, Busan Metropolitan City, Gwangyang-Jinju metropolitan area and Daegu-Pohang metropolitan area. Also, the province is well-known for its largest industrial complex for transportation equipment and cutting-edge defense industry with the well-established R&D infrastructure including national research institutes, universities and corporate research institutes.
- Population : 3,340,216
- Key Industries : High-tech avionics, Smart machine & equipment, Nanotechnology-based smart parts manufacturing ,Anti-aging medicine
- Number of Companies : 286,671
- Employees : 1,427,251
- Amount of Production(unit: one billion dollars) : 93.5
Korea’s largest industrial city
Ulsan Metropolitan City is Korea’s largest industrial city, accounting for 12% of mining and manufacturing production (as of 2019, 2nd in the nation) in Korea, with exports amount USD 74.3 billion (as of 2021, 3rd in the nation), and KRW 60.2 million per capita GRDP (as of 2020, No.1 in the nation).
Ulsan is regarded as the best city for business activities, equipped with national industrial complex, abundant industrial utilities, optimal logistical infrastructure, excellent human resources, and cutting-edge research facilities.
Ulsan is regarded as the best city for business activities, equipped with national industrial complex, abundant industrial utilities, optimal logistical infrastructure, excellent human resources, and cutting-edge research facilities.
- No. of Population : 1,138,419 (as of 2021)
- Major Industries : Automobile, Petrochemical, Shipbuilding
- No. of Companies : 87,054 (as of 2019)
- No. of Employees : 533,187 (as of 2019)
- Production Amount : KRW 68.6114 trillion (as of 2020)
World's 2nd busiest transshipment port
World’s 7th largest container port
International gateway connecting the economies of the Asia-Pacific and Eurasia
Busan is Korea’s second largest city, only after Seoul, with a population of approximately 3.39 million, and the No.1 port city. The city handles 96.8% of the total domestic transshipment volume and 76.6% of domestic container cargo, playing a bridging role that connects the large economic communities - new Northern continental economic bloc and new Southern maritime economic bloc - based on its logistics networks with about 500 ports in 150 counties around the world. It is going through transformation to realize ‘The First to the Future, Green Smart City, Busan.”
- Population : 3,391,946
- Key Industries : Smart Marine, Intelligent Machines, Future Mobility, Global Tourism, Intelligent Information Service, Life Care, and Clean Technology
- Number of Companies : 290,291
- Employees : 1,465,878
- Amount of Production(unit: USD 1 billion) : 76.3
Jeju Island, the land of
promise
The volcanic island Jeju and lava caves are recognized all around the world as they have been listed on the UNESCO World Heritage Site. The Korean government designated Jeju as the Free International City in 2002. In 2006, the government designated the island as the special self-governing province so to allow Jeju to exercise all administrative authority except for defense, diplomacy and jurisdiction. Anyone can benefit from tax breaks and realize their future with the proactive administrative support from the island.
- Population : 674,635
- Key Industries : Smart tourism, Green energy, Clean bio technology
- Number of Companies : 66,057
- Employees : 286,047
- Amount of Production(unit: one billion dollars) : 16.5