Gumi-si Goes All In on Establishing an International School in the Opportunity Development Zone

Prompt Response, Leading the Establishment of Foreign Educational Institutions in Opportunity Development Zones

The Nation's First Special Zone Investment Company, Supported by Local Tax Exemptions and Investment Subsidies

Since being designated as a Government Opportunity Development Zone in June, Gumi City in Gyeongbuk Province has been proactively responding to improving living conditions and deregulation, including nationwide first support for investment company incentives and establishing grounds for foreign educational institutions (international schools) within the zone.

Industry Department Business Meeting. Provided by Gumi City

The Opportunity Development Zone is an area that supports large-scale local investments through a package of △tax and financial support △regulatory exemptions △living conditions. On June 25, by the Ministry of Trade, Industry and Energy's announcement, the Gumi National Industrial Complex was designated as a zone of about 570,000 pyeong, focusing on semiconductors, defense industry, and secondary batteries.

Gumi City has long recognized that many domestic and foreign investment companies pointed out the lack of quality educational infrastructure as a difficulty in local investment, and has been seeking improvement measures. To resolve this, the city is focusing on gathering opinions from companies and workers and establishing a legal basis for the establishment of foreign educational institutions (international schools).

To this end, in August, Gumi City proposed the necessity of establishing an international school to Prime Minister Han Duck-soo at the 'Opportunity Development Zone Central-Local Cooperation Meeting,' and repeatedly explained the need for establishing an international school within the Gumi Opportunity Development Zone to Han Dong-hoon, the leader of the People Power Party, the Ministry of Trade, Industry and Energy, and the National Assembly.

Handonghun, the leader of the People Power Party, and Kim Jangho, the mayor of Gumi. Provided by Gumi City

Recently, a special bill allowing the establishment of international schools within the Opportunity Development Zone was submitted through the National Assembly's Industry, Trade, and Energy Special Committee, and formal discussions have begun. If the special law passes within this year, Gumi City is expected to secure the legal basis for establishing international schools, making significant progress in improving educational infrastructure.

Gumi City confirmed tax reductions and financial support for two companies within the Opportunity Development Zone. Defense industry specialist Company A received local tax (acquisition tax, etc.) reduction benefits, and secondary battery equipment specialist Company B received an additional 5% support on top of the original local investment promotion subsidy rate. This is the first investment attraction incentive applied nationwide for companies investing and settling in the Opportunity Development Zone, and it is expected to serve as an opportunity for Gumi City to attract corporate investment and revitalize the local economy.

The city plans to link the Opportunity Development Zone with the semiconductor specialized complex and defense innovation cluster to promote industrial transformation into advanced industries such as semiconductors, defense industry, and secondary batteries, and to expand related corporate investments. Through this, the goal is to achieve a major transformation of the Gumi Industrial Complex.

Mayor Kim Jang-ho said, “Gumi City has achieved great results through innovation and change over the past two years,” and added, “We will make the Opportunity Development Zone a leading model that meets the government's expectations by promoting corporate investment attraction and providing quality living environments in connection with the semiconductor specialized complex and defense innovation cluster.”