Korean Free Economic Zone
Open-knowledge reference entry
Korea Free Economic Zones (KFEZ; Korean: 대한민국의 경제자유구역) are designated to strengthen national competition for businesses and promote balanced regional development by improving living conditions and business environments for foreigners in South Korea. Korea's economic zone planning office is in charge of this project. The Korean government provides a variety of tax benefits for foreign firms and foreigners, as well as a simpler regulatory regime, a favorable living environment and swift administrative services. KFEZ endeavors to establish economic and social institutions that lead global trends and provide a variety of incentives.
In 2021, Foreign Direct Investment in FEZ upraised 42%, receiving $1.31 billion. Manufacturing sector leads foreign investment, followed by service segment, such as logistics and research and development. The European Union led the investment in the FEZ of South Korea.
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This entry incorporates text from “Korean Free Economic Zone” on English Wikipedia. Contributors are listed in the page history. Text is available under the Creative Commons Attribution-ShareAlike 4.0 License. Selected authority identifiers and statements are retrieved from Wikidata under CC0; their references and qualifiers remain part of the verification path.