Republic of Korea (South Korea)
Korean FEZs are designated by law to facilitate foreign investment, and thereby to strengthen national competitiveness and seek balanced development among regions by improving the business environment for foreign-invested enterprises and living conditions for foreigners.
There are six Free Economic Zones in South Korea. The first three zones were created in 2003 and three more were created in 2008. Jeju Island is not a Free Economic Zone but a free international city.
- Incheon Free Economic Zone (IFEZ) in 2003
- Busan-Jinhae Free Economic Zone (BJFEZ) in 2004
- Gwangyang Free Economic Zone (GFEZ) in 2004
- Saemangum Free Economic Zone (SGFEZ) in 2008
- Yellow Sea Free Economic Zone (YESFEZ) in 2008
- Daegu-Gyeongbuk Free Economic Zone (DGFEZ) in 2008
Read more about this topic: Special Economic Zone
Famous quotes containing the word republic:
“While the Republic has already acquired a history world-wide, America is still unsettled and unexplored. Like the English in New Holland, we live only on the shores of a continent even yet, and hardly know where the rivers come from which float our navy.”
—Henry David Thoreau (1817–1862)