Green Light for Designation of Foreign Investment Zone at Daesong General Industrial Complex, Hadong District, Gyeongnam

Securing Explicit Investment Demand from Foreign Investment Companies as a Requirement for Designating Investment Areas

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] A green light has been turned on for the designation of the Daesong General Industrial Complex in Hadong District, Gyeongnam, as a complex-type foreign investment zone.

According to Gyeongnam Province on the 17th, the Hadong Office of the Gwangyang Bay Area Free Economic Zone Authority has secured the "explicit investment demand from foreign-invested companies," which is a requirement for designation as a foreign investment zone.

The Hadong Office is promoting the designation of a foreign investment zone for a certain area (330,000㎡·100,000 pyeong) of the Daesong General Industrial Complex to revitalize foreign corporate investment attraction in the complex.

To be designated as a foreign investment zone, explicit (MOU) occupancy demand must be at least 50% of the complex area, and investment declaration (FDI) occupancy demand must be at least 30% of the complex area.

Currently, by signing MOUs with five foreign companies, they have secured explicit occupancy demand of 50,000 pyeong (50%) and investment declaration (FDI) occupancy demand of 48 million dollars (40%), meeting the requirements for designation as a complex-type foreign investment zone.

In the first half of this year, after conducting a feasibility study for the designation of the foreign investment zone in Hadong-gun, they plan to apply for the designation of the foreign investment zone in the second half. It is expected to be designated as a foreign investment zone in the first half of next year.

A Hadong Office official said, "We will actively promote activities to attract foreign-invested companies so that the Daesong General Industrial Complex can be designated as a complex-type foreign investment zone."

Meanwhile, to smoothly pass the designation review process for the foreign investment zone, they plan to focus on discovering additional foreign investment intention companies through joint cooperation with Hadong-gun and the Busanjinhae Free Economic Zone Authority (bjfez).

This content was produced with the assistance of AI translation services.