What is DGFEZ?
The intelligent free economic zone using domestic knowledge-based industries and infrastructures
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
- Human resources
- 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