The East coast Free Economic Zone is the official name of the free economic zone being developed to construct the Gangwon-do East Coast region into the center of the Pan-East Coast economic belt by fostering advanced green materials industries, global tourism, leisure industries, and by establishing an international logistics and business complex, and an international city.
|Overview of East coast Free Economic Zone Project|
|Designation Date||- Feb 4, 2013 (based on Ministry of Knowledge Economy Public Notice 2013-35)|
|Total Project Cost||- 1.3075 trillion won|
|Project Period||- 2013 to 2024 (12 years)|
|Project Area||- 8.25km²|
|Development Vision||- Construct economic center of Pan-East Coast area by fostering advanced
|Development Region||- East Coast, Gangwon-do of the Republic of Korea in the Pan-East Coast
Region of the Far East (Gangneun and Donghae region)
|Spatial Composition||- Establish unit districts in the East Coast Port region (4 districts)|
|- Location per District : Bukpyeon-dong and Mangsang-dong in
Okgye-myeon and Gujeong-myeon in Gangneung
|- Inter-district Connection : All districts connected in a 29km radius from
Bukpyeong, Donghae (30 minutes)
|- Inter-district Transportation : Road (Route 7 and Donghae Expressway),
Rail (East Coast Inland Railway)
- The EFEZ region dominates massive amount of metal resources including magnesium, lithium,
other rare materials in domestic market.
- The International Olympic Committee (IOC) announced Pyeongchang would be the host of the 2018 Winter
Olympics and thanks to the winning of the biggest winter season sports game Korea’s national brand power is
expected to increase in the coming years.
- The East coast region is most popular continental holiday resort area all along with beaches and big tourist
attractions and it records 2.6 trillion won as tourist revenues in 2012.
- The East Free Economic Zone offers various tax benefits, softened regulations for free economic activity,
and convenient living environments. In aid of foreign investor and international firm, FEZ authority assists
easy step of administrative task and it guarantee free and wide-range corporate economic activities.
Gang-won region dominates massive amount of metal resources including magnesium, lithium, quartzite
and other rare materials in national market.