Incheon Free Economic Zone 2023 Resident Businesses Survey ... 2019 Sales Revenue 78 Trillion Won

Incheon Free Economic Zone Songdo International City
[Photo provided by Incheon Free Economic Zone Authority]

[Asia Economy Reporter Park Hyesook] The Incheon Free Economic Zone Authority will conduct a survey on businesses operating in the Songdo, Cheongna, and Yeongjong areas of the Incheon Free Economic Zone based on 2020 data.

The survey, which will be conducted until the end of September, targets domestic businesses with five or more employees (and foreign-invested companies with one or more employees) operating in the Incheon Free Economic Zone as of the end of last year. During the on-site survey, the businesses themselves will fill out the survey items.

The survey covers a total of 64 items, including the time of establishment, organizational form, employment, industry type, sales, exports, investment, production logistics volume, research personnel, incentives, and other basic information about the businesses, as well as difficulties and suggestions related to corporate activities.

Considering the ongoing COVID-19 situation, the Incheon Free Economic Zone Authority has mandated strict compliance with quarantine rules, such as requiring surveyors to wear masks during the survey.

According to last year's survey results, as of the end of 2019, there were 3,275 businesses in the Incheon Free Economic Zone, employing 103,693 people. Sales amounted to 78 trillion won, a 13.9% increase compared to the previous year, and exports reached 22 trillion won, a 4.9% increase from the previous year.

An official from the Incheon Free Economic Zone Authority stated, "Once the survey results are available, we plan to analyze the occupancy status by industry and key projects to measure and evaluate achievements such as investment attraction, job creation, and sales, and use this as basic data for policy implementation."

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