Chungnam Province and Asan City Fully Promote Chungnam Economic Free Zone

Holding a Resident Briefing Session for Inju District in Chungnam Free Economic Zone

Chungnam Province and Asan City, which are promoting the designation of the Chungnam Free Economic Zone, held a residents' briefing session on the Inju District of the Chungnam Free Economic Zone on the 10th and have entered the full-scale project promotion process.

Chungnam Province and Asan City, which are promoting the designation of the Chungnam Free Economic Zone, held a residents' briefing session on the Inju District of the Chungnam Free Economic Zone on the 10th and officially began the project promotion process.

Chungnam Province is promoting the designation of the Chungnam Free Economic Zone as one of the core projects of the 'Bay Valley' construction. Once designated as a free economic zone, the developer of the development project will receive exemptions from taxes, development charges, and farmland preservation charges. In addition, resident companies will benefit from tax reductions, the creation of leased land and rent reductions, financial support for investment attraction-related facilities, exemptions from fees for the use and lease of national and public property, relaxation of labor regulations, and support for living conditions for foreign residents.

The target districts cover 15.14㎢ across five districts in four cities: Cheonan, Asan, Seosan, and Dangjin. Asan includes the Inju District and the Dunpo and Eumbong Districts, accounting for 9.8㎢, or 64.8% of the total area. Among these, the Inju District accounts for 5.71㎢, or 37.8% of the total, with a focus on the next-generation display industry.

Mayor Park Kyung-gwi said, "The development of the northern Asan area, connecting Inju, Yeongin, and Dunpo, along with the Chungnam Free Economic Zone, will change the map of Inju and dramatically drive the development of the entire Chungnam Province." He added, "If residents broadly accept this, we will actively incorporate their opinions during development and do our best to ensure that the benefits from the development are returned to the residents."

Meanwhile, Chungnam Province plans to apply for the designation of the free economic zone to the Ministry of Trade, Industry and Energy in the first half of the year after going through procedures to collect residents' opinions.

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