Gumi City Targets Opportunity Development Special Zone ... Formation of Promotion Team

Formation of Gumi-type Opportunity Development Special Zone Promotion Team, Kickoff Meeting Held

Following Semiconductors and Defense, Opportunity Development Special Zone as a Leading Model for the Local Era

Gumi City in Gyeongbuk Province has formed the ‘Gumi-type Opportunity Development Zone Task Force (TF)’ to designate an Opportunity Development Zone, a key national project for balanced regional development by the government. On the 27th, more than 30 officials from related organizations attended the kick-off meeting for the Opportunity Development Zone, chaired by Vice Mayor Kim Ho-seop at the city hall.

Meeting of the Gumi-type Opportunity Development Special Zone Promotion Team.

During the meeting, an overview of the Opportunity Development Zone, progress of the project, and operational plans for the Gumi-type Opportunity Development Zone Task Force (TF) were introduced and discussed.

The Opportunity Development Zone is based on the 'Special Act on Local Autonomy Decentralization and Balanced Regional Development,' which passed the National Assembly last May. It is a project that provides a package of support including tax benefits, regulatory exemptions, and improvements in living conditions to attract large-scale corporate investments to local areas.

If designated as a special zone, companies relocating their headquarters or investing (new or expansion) within the zone will be eligible for substantial support such as ▲tax benefits including corporate tax and income tax reductions ▲regulatory exemptions that hinder business activities ▲expanded support for local investment promotion subsidies.

The city expects to create a synergy effect by attracting large-scale semiconductor and defense industry companies through the designation of the Opportunity Development Zone, linked with the recently designated semiconductor specialized complex and defense innovation cluster.

Furthermore, significant effects are anticipated in future industrial development and related projects following the opening of the Daegu-Gyeongbuk New Airport, positioning Gumi as a land of opportunity leading the local era.

Vice Mayor Kim Ho-seop stated, “The attraction of the defense innovation cluster and semiconductor specialized complex has created a new turning point for the region and Gumi Industrial Complex, which had difficulties with the outflow to the metropolitan area,” and added, “I hope that active cooperation and support from related departments and organizations will strengthen the designation of the Opportunity Development Zone.”

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