Government Initiates Procedures to Designate Gyeonggi Ansan and Chungnam as Economic Free Zones

The procedure to review the designation of the Economic Free Zones in the area around Hanyang University ERICA Campus in Ansan, Gyeonggi Province, and parts of Cheonan, Asan, Dangjin, and Seosan in Chungnam has officially begun.

On the 20th, the Ministry of Trade, Industry and Energy reported the designation requests for Economic Free Zones from Gyeonggi Province (Ansan) and Chungcheongnam-do at the 143rd Economic Free Zone Committee meeting.

According to the "Special Act on the Designation and Operation of Economic Free Zones," to be designated as an Economic Free Zone, the mayor or governor must prepare a development plan and request designation from the Ministry of Trade, Industry and Energy. The Ministry reports the designation application to the Economic Free Zone Committee, and after consultations with related ministries and expert evaluations, the final decision on designation is made through the review and resolution of the Economic Free Zone Committee.

Ansan City plans to utilize the Hanyang University ERICA Campus and nearby idle public land to attract robot R&D companies and foreign educational institutions. This is linked to the ongoing Hanyang University Campus Innovation Park development project and aims to further enhance the manufacturing competitiveness of the Banwol-Sihwa Industrial Complex.

Chungnam has applied for designation of five districts (13.3㎢): Cheonan (Sushin District), Asan (Inju and Dunpo Districts), Seosan (Jigok District), and Dangjin (Songsan District). The goal is to increase the proportion of industrial land to absorb demand for factory sites in the metropolitan area’s mobility, semiconductor, display, and hydrogen sectors. Local governments and Chungnam Development Corporation will actively participate in implementation, and the plan is to provide favorable living conditions for foreigners by linking with the ongoing development project of the 100,000-population northern area of Asan City.

Lee Hyun-jo, head of the Economic Free Zone Planning Division at the Ministry of Trade, Industry and Energy, said, "The feasibility of the development plan, including investment attraction and financing, will be a key evaluation criterion in determining the designation."

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