Free Economic Zone

Korean Free Economic Zones are specially designated areas created to improve the business and living environment for foreign-invested firms in Korea.

Daegu-Gyeongbuk Free Economic Zone

Daegu-Gyeongbuk Free Economic Zone (DGFEZ) was assigned in May 2008 for the needs to organize the intelligent free economic zone using domestic knowledge-based industries and infrastructures differentiated from the existing free economic zones focusing on the logistics.

Daegu-Gyeongbuk Free Economic Zone Authority

• The Daegu-Gyeongbuk Free Economic Zone Authority (DGFEZ) has designated eight investment districts (Free Economic Zones) in Daegu metropolitan city and Gyeongsangbuk-do (in short, Gyeongbuk) province, where domestic knowledge-based services and manufacturing infrastructure are well-established, and is creating an optimal business environment to stimulate the attraction of domestic and foreign investment.
• By moving into the investment district, companies can achieve a stable business operation as well as develop and expand their market share at home and abroad as the DGFEZ provides simplified administrative procedures, incentives, and comfortable living conditions.
• As the largest university cluster south of the metropolitan area and a business area located in Daegu and Gyeongbuk, which are adjacent to key production powerhouses such as Gumi, Pohang, Ulsan, and Changwon, the DGFEZ has abundant, excellent human resources, a well-established global industrial cluster, and industrial infrastructure.

Overview of Daegu-Gyeongbuk Free Economic ZoneView Details

• Location : Daegu Metropolitan City and Gyeongsangbuk-do Province (Pohang City, Yeongcheon City, Gyeongsan City)
• Duration : 2008 to 2024(goal)
• Budget : Total of KRW 5,966 billion (KRW 661.2 billion in national expenditure, KRW 493.6 billion in local government funds, and KRW 4,711.7 billion in private investment)
• Total Area : 8 districts, 18.41㎢
• Target Industries : IT convergence industry, High-tech transportation & machine component industries, High-tech medical industry
• Core Strategic Industries : ICT and robots, Medical and biotech, Future mobility
• Goals for attraction by districts

  Project District		Size	Target Businesses	Development Status
  Deagu	International Fashion	1.176㎢	Fashion, apparel, media, high-tech IT and knowledge industry, public/commercial/residential facilities	development completed
  	Sinseo Meditech	1.054㎢	Medical R&D institutions and medical R&D supporting institutions	development completed
  	Deagu Technopolis	7.259㎢	Automobiles（parts）, mechatronics, IT-convergence, green energy	under development
  	Suseong Alpha City	0.976㎢	ABB, ICT, SW	development completed
  Gyeongbuk	Yeongcheon Industry	1.461㎢	Metal machinery, automobile parts, other manufacturing, mechatronics	development completed
  	Pohang Fusion Tech	1.451㎢	Green energy, bio, medical devices, part materials, foreign educational institutions	under development
  	Yeongcheon High-tech Park	1.222㎢	Smart mobility parts, aviation/automobile interiors, smart wire, harness	Establishment of implementation plans
  	Gyeongsan Knowledge Industry	3.809㎢	Machinery parts, green part materials, high-tech medical devices and materials, research and training	under development

DGFEZ competitivenessView Details

• Transportation
• Human resources
• R&D
• Culture industry

• Convenient metropolitan transportation system as a hub of Yeongnam area
• Multiple advanced educational institutions and excellent human resources
• Close to the excellent industrial manufacturing foundations and major industrial cities
• Sufficient resources for history, culture, and tourism in the regions nearby