The Center of the West Coast Era | Yellow Sea Free Economic Zone

Yellow Sea Free Economic Zone is to be developed into the industrial and cultural center of Northeast Asia.

Yellow Sea Free Economic Zone

The economic advancement of the Republic of Korea over the past few years is renowned around the world. Gyeonggi Province, the economic center of Korea and home to innovative and world-leading convergence clusters, also houses the Yellow Sea Free Economic Zone, or YESFEZ. YESFEZ was established to promote foreign investment in Korea through the development of various complexes. Located in Gyeonggi Province’s Pyeongtaek City, YESFEZ is being developed as a center of high-tech industry clusters with the aim of creating an international cooperation base for the rapidly developing industries of the Yellow Sea Region.

What drives it

The Yellow Sea, a continental shelf covered in shallow water and one of the largest areas of its kind in the world, lies between mainland China and the Korean Peninsula. This places  YESFEZ within one of the world’s top 3 economic blocks along with the North American Free Trade Agreement (NAFTA) and the European Union (EU). It occupies a prime location near international airports with convenient flights to major cities and countries including China and Japan as well as Southeast Asian nations. It also adjoins seaports with modern facilities that enable intercontinental distribution and offers access within 2 hours to any major city in the nation through comprehensive highways and high-speed railways.
YESFEZ adjoins seaports enable intercontinental distribution of the product
The Yellow Sea Free Economic Zone features Pyeontaek Poseung District (project cost of approximately KRW 80 billion) and Hyeondeok District (project cost of approximately KRW 750 billion). Construction of the districts began in 2008 and is scheduled to be completed by 2020. Each district has its own industry focus.

· Pyeongtaek Poseung District

Pyeongtaek Poseung District (BIX) is being developed as a cutting-edge industrial cluster and Northeast Asian hub through is key position within the Yellow Sea Free Economic Zone. Its industry focus includes automotive parts, logistics, electronics, chemicals, and more.

Pyeongtaek Port, one of the top 3 ports in Korea, is located in BIX and regarded as a global logistics headquarters of Fortune 500 companies in automobiles, semiconductors, steel, and more. Upon completion, BIX will see operations in various fields such as for distribution logistics, automobiles, chemicals, semiconductors and machinery. This underlies its purpose of serving as a launching point for entry into Northeast Asia through strengthened collaboration and foreign investment in the complex.

Domestic advantages and investment
BIX offers affordable lease rates and boasts a convenient location through its easily accessible transportation links to and from Seoul (travel time of less than 60 minutes). In terms of investment locations, BIX has comprehensive development plans that feature the Pyeongtaek Tourist Complex, port-adjacent sites, and an international passenger terminal. Moreover, Gyeonggi-do offers a convenient living and globalized environment that includes the US Forces Korea headquarters, the largest facility of its kind in Northeast Asia.

Foreign advantages and investment
For foreign investors, it is an ideal location that provides a solid foundation for corporate activities. Various incentives in the form of tax exemptions and reductions are offered as well as subsidies for training and employment. With regard to the stability of companies, foreign-invested firms can access one-on-one custom services suited to their needs.

      · Hyeondeok District

Hyeongdeok District is being developed as a cultural and tourism cluster for foreign visitors. It features a space for cultural exchange, immersion, and learning through various facilities. It will also house a superior complex with integrated functions for business and leisure activities. Furthermore, it is being tailored to foster international solidarity among Korean and foreign investors, creating a harmonious living space through a globalized atmosphere. This will be attained through support via housing, medical services, and international schools for foreign professionals.

The area is divided according to function: the northern area is dedicated to commercial operations while the southern area focuses on residential amenities. The layout is comprehensively designed to accommodate the needs and concerns of both businesses and residents. In this way, Hyeondeok District addresses multifaceted demands by diversifying its retail, commercial and business, tourism, and medical and housing and support facilities.

Leading to your future

The Yellow Sea Free Economic Zone provides an ideal location for the stability and success of enterprises. It is a place where you can design and achieve your future.
Invest in the Yellow Sea Free Economic Zone. Your Future is Open.

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Gyeonggido-Korea (경기도): The Center of the West Coast Era | Yellow Sea Free Economic Zone
The Center of the West Coast Era | Yellow Sea Free Economic Zone
Yellow Sea Free Economic Zone is to be developed into the industrial and cultural center of Northeast Asia.
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