Gwangju Free Economic Zone Authority to Open in January Next Year

Ministry of the Interior and Safety Approves 45 Personnel Including Commissioner (Level 1-2) and Headquarters Chief (Level 3)

Gwangju City Hall

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] The Gwangju Metropolitan City, which has been focusing on promoting the Gwangju Free Economic Zone during the 7th local government administration, is now gearing up for its launch following the Ministry of the Interior and Safety's recent approval of the establishment of the Gwangju Free Economic Zone Authority, including its organizational structure and staffing.

Gwangju City announced on the 24th that, in consultation with the city council, it has finalized ordinance amendments, organizational setup, budget allocation, and office space arrangements, and plans to open the Gwangju Free Economic Zone Authority as a branch office under the city at the Gwangju Innobiz Center in January next year.

The Gwangju Free Economic Zone Authority, a specialized investment attraction agency, has been approved for a staff of 45, including the head of the authority (grade 1~2), and the director (grade 3).

Going forward, Gwangju City may readjust the organizational scale in consultation with the Ministry of the Interior and Safety based on the development project achievements and investment attraction performance of the Free Economic Zone.

The head of the authority is being considered for designation and operation as an open position, taking into account the professionalism and innovativeness of the role. Under the director, three departments will be established to handle Free Economic Zone affairs: Planning and Administration, Investment Attraction, and Business Support.

The staff will be composed by transferring city officials and appointing investment attraction experts as fixed-term public officials, forming an industry-specific tailored investment attraction organization expected to achieve substantial investment attraction results.

On June, the Ministry of Trade, Industry and Energy officially designated four districts totaling 4.371㎢ as the Gwangju Free Economic Zone: ▲Future Automotive Industry District - Bitgreen National Industrial Complex ▲Smart Energy Industry District I - Energy Valley General Industrial Complex ▲Smart Energy Industry District II - Docheom National Industrial Complex ▲AI Convergence District - Advanced 3 District.

The Gwangju Free Economic Zone has set the vision of “A Win-Win and AI-Based Convergence New Industry Hub,” aiming to reorganize Gwangju’s future food industry structure based on Gwangju-type jobs and artificial intelligence, thereby proactively responding to the rapidly changing industrial structure caused by the 4th Industrial Revolution.

Joo Jae-hee, head of the city’s Investment Attraction Division, said, “With the completion of consultations on the organizational structure and staffing with the Ministry of the Interior and Safety, preparations for the opening in January next year are progressing smoothly. Once the Gwangju Free Economic Zone Authority opens, it is expected to create a new turning point for investment attraction in Gwangju through improved business environments such as tax reductions and deregulation, as well as generate new jobs by fostering new industries.”