Changwon Special City, Full-Scale Development of Digital Masan Free Trade Zone ... Masan is Changing

‘Ministry of Economy and Finance
Conducts Feasibility Study Response Service
to Secure National Funding’

The development of the Digital Masan Free Trade Zone is expected to proceed in earnest.

On the 7th, Changwon Special City in Gyeongnam held a kickoff meeting for the "Digital Masan Free Trade Zone Development Planning Research Project" at the City Hall's 3rd conference room, attended by officials from the Ministry of Trade, Industry and Energy's Economic Free Zone Planning Team and the Masan Free Trade Zone Authority.

Hong Nampyo, Mayor of Changwon Special City, is explaining about the development of the Digital Masan Free Trade Zone.

This project is a response service for the preliminary feasibility study by the Ministry of Economy and Finance to secure national funding for the construction of the Digital Masan Free Trade Zone D.N.A. Innovation Town within the newly designated Masan Marine New City as of January this year. It includes ▲plans for developing the Digital Masan Free Trade Zone ▲fostering the D.N.A. (Data, Network, AI) industry ▲linkage plans with core industries (manufacturing) ▲promotion of cultural and artistic content industries ▲and the necessity of national funding support.

During the kickoff meeting, the project implementation plan, business direction, and preliminary feasibility study response strategies were discussed, with significant efforts focused on coordinating the timing of the preliminary feasibility study with the Ministry of Trade, Industry and Energy.

As a result of the kickoff meeting, active cooperation was received from the Ministry of Trade, Industry and Energy and the Masan Free Trade Zone Authority to proceed with the application for the preliminary feasibility study aimed at securing national funding in the fourth quarter of this year.

Report Meeting for the Development of Digital Masan Free Trade Zone.

The Ministry of Economy and Finance's preliminary feasibility study takes about one year and involves submitting a preliminary feasibility study request, selecting and verifying the target projects, and providing national funding for projects that pass the evaluation.

Hong Nam-pyo, Mayor of Changwon Special City, stated, "The development of the Digital Masan Free Trade Zone will be the cornerstone for preparing Changwon's next 50 years through the creation of a new industrial ecosystem in Masan," adding, "Please watch the industrial innovation that will take place in Masan in the future."

Meanwhile, the Digital Masan Free Trade Zone will cover a total site area of 33,089㎡, with a D.N.A. innovation complex consisting of a 20-story industrial facility and a 12-story support facility. The plan is to attract advanced manufacturing companies centered on D.N.A. enterprises.

The total project cost is 386 billion KRW, of which 290 billion KRW is planned to be secured as national funding. To expedite the project, the research is planned to be completed within this year, followed by the application for the preliminary feasibility study.

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