Gangwon Province's Push for Special Opportunity Development Zones
Key Ideas
  • Gangwon Province aims to establish five special opportunity development zones to boost high-tech industries and clean energy bases.
  • The proposed zones include areas focusing on digital healthcare, bio, data, semiconductors, medical, natural product bio, new materials, hydrogen, and low-carbon green industries.
  • The initiative is supported by various tax benefits and improved settlement conditions to attract companies to invest in Gangwon Province.
  • The final decision on the designation of the special zones is expected to be announced between October and November.
Gangwon Province in South Korea is set to pursue the creation of five special opportunity development zones to enhance its industrial and energy sectors. Led by Deputy Governor Kim Myung-sun, a task force has been established to drive this initiative, focusing on areas such as digital healthcare, bio, data, semiconductors, medical, natural product bio, new materials, hydrogen, and low-carbon green industries. The province plans to designate specific districts for each sector to create a conducive ecosystem for high-tech industries. Gangneung city will be developed as a center for natural product bio and new material industries. Additionally, plans are in place to establish 'hydrogen and low-carbon green industrial zones' in the East Sea and Samcheok, along with a 'core mineral and clean energy industry zone' linking Taebaek and Yeongwol. These zones aim to transform Gangwon Province into a hub for future energy technologies. To attract businesses, the province will offer comprehensive support, including tax benefits and improved settlement conditions. The decision on the designation of these special zones is anticipated to be made between October and November. Lee Hee-yeol, the head of the Gangwon-do Planning and Coordination Office, expressed confidence that these initiatives will incentivize companies to invest in the region, fostering economic growth and innovation.
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