Gyeonggi-do Application for Designation of Gyeonggi Free Economic Zone in Ansan Science Valley District

2025.01.15. AM 10:13
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Gyeonggi Province said it has submitted an application to the Ministry of Trade, Industry and Energy to designate the Ansan Science Valley (ASV) district as a free economic zone.

The 1.66㎢ ASV, Sa-dong, Sangnok-gu, Ansan-si, is a cluster of industry, academia, and research with more than 200 small and medium-sized venture companies located around Hanyang University's ERICA Campus and Gyeonggi Techno Park.

province plans to invest KRW 410.5 billion in total project costs by 2032, making ASV a global R&D-based high-tech robot and manufacturing business base.

The ASV Free Economic Zone application submitted to the Ministry of Industry included the advantages of its location as a free economic zone, including ways to foster high-tech robots and manufacturing industries, land use plans, domestic and foreign investment attraction, financing methods, and economic effects analysis.

International schools and research facilities, high-tech robot clusters, business bases in free economic zones, and global corporate R&D centers are planned as new tenant facilities.The

provincial government predicts that if the AVS district is additionally designated as a free economic zone, it will generate a total of 2.2 trillion won in production inducement and 12,000 jobs by attracting investment.

Choi Won-yong, head of the Gyeonggi Free Economic Zone Authority, said, "We will spare administrative support to make the AVS district designated as a free economic zone in the second half of this year."

Currently, there are three places (5.24㎢) designated as Gyeonggi Free Economic Zone: Poseung District in Pyeongtaek, Hyeondeok District, and Siheung Baegot District, accounting for 1.9% of the total area of the nation's free economic zone (271㎢).



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