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[Sponsored Report] Blending high-tech commerce with ideal living environment

YESFEZ SPECIAL

Nov 10,2010
Founded on July 22, 2008, the Yellow Sea Free Economic Zone (YESFEZ) is an area designed specifically to provide companies with an optimal environment to engage in global business activities. Boasting an ideal environment to build a cluster of high-technology companies, the YESFEZ is destined to become an advanced home base for imports, exports and value-added logistics by 2025 as well as a hub for commerce with China.

The zone is located in the heart of Northeast Asia, situated less than an hour from Incheon International Airport and close to Seoul. As the gateway to the YESFEZ, Pyeongtaek-Dangjin Port will connect the Northeast Asian region with the Seoul metropolitan area and Korea’s industrial cluster.

Thanks to its location, excellent infrastructure, the presence of global industry clusters and an abundance of qualified workers, the economic zone will merge high-tech commerce with a top living environment to become the center of the Yellow Sea region’s economic resurgence.

“We will do our utmost to become a base for international cooperation in the high-tech industry and to provide an optimum business environment for foreign investors to carry out their dreams,” said Kim Sung-bae, the commissioner of the YESFEZ.

The commissioner also stressed his commitment to creating an ideal environment to attract investment. “We plan to build universities, educational and medical facilities, resort areas, convention centers and other venues to facilitate business with foreign capital in order to create a pleasant, comfortable and comprehensive living environment for foreigners,” Kim said. With this as the backdrop, the YESFEZ has established an action plan based on a long-term vision and investment inducement strategy that aims to create an attractive investment environment.



Development Plan

Within the YESFEZ, there are five sub-zones - or districts - in the vicinity of Pyeongtaek-Dangjin Port. This grand project involves the development of 55 million square meters of land and a projected investment of $7.5 billion.



Songak District

Songak District will be developed as international and multi-functional city for business. With a high-tech industry cluster that is home to auto parts, electronics and information-related companies as well as R&D, Songak will be developed into a self-sufficient city embracing global business, residential areas and ecological parks.



Poseung District

Poseung District will boost international business and value-added logistics by focusing on automobiles, electronics and the information sector. The district will be developed in accordance with the master plan for the area surrounding Pyeongtaek-Dangjin Port. Accordingly, Poseung District will become a multi-functional city for high-tech industries, logistics, businesses and tourism.



Inju District

Inju District will be developed into an area focusing on leisure, relaxation and tourism as well as an integration point for high-tech industries. Officials will seek to develop a cluster of advanced high-tech companies as well as build an international business complex, tourist attractions, a convention center and exhibition halls.



Jigok District

Jigok District will grow into a high-tech auto parts cluster in connection with nearby business complexes and Techno Valley in Seosan.



Hyangnam District

Hyangnam District will be developed into a biotech industry cluster, focusing specifically on biopharmaceuticals, medical devices and bioelectronics. (Information: 041-351-6360)




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