Kim Dong-yeon: "The Key to Development in Northern Gyeonggi is Designation as a Peace Economy Special Zone"

Gyeonggi Province Governor Kim Dong-yeon is taking a commemorative photo with participants at the National Assembly Hall on the 17th during the 'National Assembly Forum for the Designation of Gyeonggi Province Peace Economy Special Zone.'

Gyeonggi Province Governor Kim Dong-yeon argued that if the Gyeonggi Northern Special Autonomous Province is a game changer that can advance South Korea, then the Peace Economy Special Zone is the key to making the Gyeonggi Northern Special Autonomous Province successful.

The Peace Economy Special Zone is jointly designated by the Minister of Unification and the Minister of Land, Infrastructure and Transport upon the request of city and provincial governors, and industrial complexes or tourism zones can be established within it.

Once designated as a Peace Economy Special Zone, developers of development projects can receive support for infrastructure installation and various local tax and charge reductions. Additionally, resident companies will benefit from local tax reductions, rent reductions for the developed sites, and operational fund support, which is expected to revitalize the regional economy.

On the 17th, Gyeonggi Province held a 'National Assembly Forum for the Designation of Gyeonggi Province Peace Economy Special Zone' at the National Assembly Members' Office Building in Yeouido, Seoul, attended by Governor Kim Dong-yeon, National Assembly members Park Jung, Yoon Hoo-duk, Kim Sung-won, Kim Ju-young, Park Sang-hyuk, private experts, and residents.

In his welcoming remarks, Governor Kim Dong-yeon said, "Like Oppenheimer, who made a decisive contribution to ending World War II by successfully completing the atomic bomb project, a game changer is something that changes the game in any situation. The Gyeonggi Northern Special Autonomous Province that Gyeonggi Province is promoting is exactly a game changer that can develop northern Gyeonggi and South Korea. The Peace Economy Special Zone is the core of cores to make the Gyeonggi Northern Special Autonomous Province successful," emphasizing the point.

He added, "If northern Gyeonggi becomes independent as the Gyeonggi Northern Special Autonomous Province, it will have greater growth potential than anywhere else in South Korea," and "Through this, structural problems faced by northern Gyeonggi, such as weak finances, imbalanced realities, and various overlapping regulations, can be resolved all at once."

At the forum, discussions were held to externally promote the necessity and justification for designating the Gyeonggi Peace Economy Special Zone and to discuss strategies and plans for designating and developing the Peace Economy Special Zone that leverages the characteristics of the northern region.

Professor Lee Young-sung of Seoul National University Graduate School of Environmental Studies, in his presentation on the 'Direction for Establishing the Gyeonggi Peace Economy Special Zone,' stated, "The exchanges considered by law focus on inter-Korean cooperation enterprises, but we should conceive the Peace Economy Special Zone, which prepares for the future, even during periods of strained inter-Korean relations, not only through direct corporate exchanges," and "Among the high value-added industries that determine the future prosperity of the Korean Peninsula, South Korea has international competitiveness and technology, but industries that are difficult to flourish in South Korea should be the focus of strategic planning."

Research Fellow Cho Sung-taek of the Gyeonggi Research Institute, in his presentation on 'Development Strategy for the Gyeonggi Northern Special Autonomous Province and the Role of the Peace Economy Special Zone,' suggested, "The Peace Economy Special Zone should serve as a hub for attracting new industries and an innovation ecosystem, establish a division of labor structure between South and North Korea, and ultimately secure sustainability by transforming into an international industrial complex through attracting overseas investment."

In the subsequent comprehensive discussion, chaired by Kim Young-yoon, chairman of the South-North Logistics Forum, Professor Im Eul-chul of Gyeongnam National University, Professor Kim Hyun-soo of Dankook University, Research Fellow Choi Dae-sik of LH Research Institute, and Deputy Governor of Administration 2, Oh Hu-seok, expressed their opinions on attracting the Peace Economy Special Zone for the development of northern Gyeonggi and the realization of the Korean Peninsula economic community.

Gyeonggi Province plans to collect opinions from this forum and communicate with residents to prepare the best legal alternatives and improvements.

Meanwhile, the Gyeonggi Research Institute estimated that when an economic special zone of 3.3 million square meters (1 million pyeong) is established in the northern Gyeonggi region, the production inducement effect would be 6 trillion won (9 trillion won nationwide), and the employment creation effect would be 54,000 people (73,000 nationwide).

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