DGFEZ announced on April 25th that the first Free Economic Zone Committee of the year, convened by the Ministry of Trade, Industry, and Energy (MOTIE), approved the 21st revision of the Gyeongsan Knowledge Industry District (GKID) Development Plan to attract large outlets.

GKID, spanning approximately 3.8 square kilometers in Gyeongsan, has attracted 166 companies and 7 national research institutes since its designation as a Free Economic Zone in 2008. Despite its wealth of human resources, including 100,000 college students from 10 nearby universities, insufficient settlement conditions for cultural and leisure activities prompted a necessary revision of the development plan to prevent local decline.

The revision, developed in collaboration with MOTIE and Gyeongsan City, aims to create a multifaceted economic hub, shifting from a solely R&D and manufacturing-oriented industry to accommodate service and distribution functions, enhancing settlement conditions as outlined in the 3rd Free Economic Zone Basic Plan.

Key changes include repurposing existing industrial and public facility land for distribution and commercial use, creating space for large-scale outlets. Additionally, research facility land will be transformed to establish a "regional industrial base innovation cluster" and accommodate a knowledge industry center, with additional areas allocated for industrial use to meet growing demand.