South Korea's President Yoon Suk Yeol has designated 8 cities and 20 provinces nationwide as special opportunity development zones, offering companies exceptional tax benefits to promote economic growth and investment. These special zones will provide incentives like a 100% reduction in income and corporate taxes for five years to companies initiating businesses within them. Various industries are targeted in different regions, with a focus on sectors like secondary batteries, semiconductors, defense, LNG, hydrogen production, power generation, and carbon fiber. The government aims to attract approximately 26 trillion won in new investments from over 200 companies to the special zones. President Yoon has particularly highlighted North Gyeongsang Province's potential as a hub for the hydrogen industry, proposing the establishment of an 800 billion won hydrogen economy industrial belt on the east coast. Additionally, plans include the creation of an 80 billion won nuclear power plant industry growth fund to support innovative equipment companies leading the small module reactor (SMR) industry. These initiatives signal a positive outlook for South Korea's economic development and industrial growth, with a strategic focus on incentivizing businesses in key sectors. The designation of special opportunity development zones reflects a concerted effort to drive investment, innovation, and regional development across the country.