Dongducheon City Holds Advisory Meeting on Opportunity Development Special Zone Promotion

Dongducheon City, Gyeonggi Province (Mayor Park Hyung-deok) announced on the 13th that it held the "Dongducheon City Opportunity Development Special Zone Promotion Advisory Meeting" on the 12th.

Dongducheon City held the "Dongducheon City Opportunity Development Special Zone Promotion Advisory Meeting" on the 12th. Provided by Dongducheon City

The city aims to apply for designation as an Opportunity Development Special Zone in the second half of 2025. At this advisory meeting, discussions were held on the current status and industry analysis of the city for special zone designation, the establishment of Opportunity Development Special Zone strategies, forecasting corporate demand and investigating influencing factors within the zone, as well as application matters such as residential conditions and transportation networks.

The Opportunity Development Special Zone is a system under the Special Act on Local Autonomy Decentralization and Regional Balanced Development. It is a special zone that induces large-scale investment and provides various benefits to drive economic growth in non-metropolitan areas and some parts of the metropolitan area (population decline areas, border areas).

It offers benefits such as an 85% reduction in corporate tax for five years, followed by a 50% reduction for two years. In addition, regulatory exemptions, tax benefits, and financial support are also provided. Designation is made by the Minister of Trade, Industry and Energy through deliberation and resolution by the Local Era Committee upon application by the provincial governor.

For non-metropolitan areas, after initially designating eight cities and provinces as Opportunity Development Special Zones in June, six additional cities and provinces were designated and announced on the 6th. However, since guidelines related to the metropolitan area have not been established, additional designation announcements are necessary.

Im Kyung-sook, Deputy Mayor of Dongducheon City, said, “Through proactive advisory meetings, we will prepare a strategy for the Dongducheon City Opportunity Development Special Zone to revitalize the economy of the relatively underdeveloped northern Gyeonggi region and ensure that there are no setbacks in the special zone designation process.”

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