Gwangyang Free Economic Zone Authority and KOTRA Deliver On-Site, Hands-On Administration for Foreign-Invested Companies

The Gwangyang Bay Area Free Economic Zone Authority (headed by Gu Choong-gon, hereinafter referred to as the Gwangyang Free Economic Zone Authority) announced that it has joined hands with the KOTRA Comprehensive Administrative Support Center to carry out on-site, hands-on administration by directly visiting foreign-invested companies in its jurisdiction.

On April 20, the Gwangyang Free Economic Zone Authority visited two foreign-invested companies located in the Gwangyang Port hinterland area: King Tops Co., Ltd. and EEW KHPC Co., Ltd., to conduct on-site consultations.

Officials from the Gwangyang Free Economic Zone Authority and KOTRA Comprehensive Administrative Support Center visited EEW KHPC, a foreign-invested company in the Gwangyang Port hinterland complex, on April 20 to listen to the company's difficulties and provide guidance on reinvestment incentives using internal reserves. Provided by the Gwangyang Free Economic Zone Authority

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This visit was arranged to listen directly to the difficulties experienced by the companies on site and to provide detailed guidance on the foreign investment incentive system applicable to reinvestment using retained earnings.

A company official who participated in the consultation commented, "It was a meaningful opportunity to convey our real challenges in person and to gain a concrete understanding of both the foreign investment certification procedures for retained earnings and the direction of related incentive policies."

Gu Choong-gon, Head of the Gwangyang Free Economic Zone Authority, stated, "The Gwangyang Bay Area is the optimal destination for foreign investment, equipped with excellent industrial infrastructure and a global import-export network. Going forward, we will continue to provide active administrative support in close cooperation with KOTRA and other related organizations so that we can swiftly resolve the difficulties faced by resident companies and ensure that expansion investments using retained earnings proceed smoothly."

The Gwangyang Free Economic Zone Authority plans to use these on-site consultations as an opportunity to further strengthen communication with foreign-invested companies in the region and focus on achieving tangible results that lead to increased investment.

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