The Only AI-Driven Gwangju Economic Free Zone Authority Opening in Korea

[Asia Economy Honam Reporting Headquarters Reporter Lee Gwan-woo] The Gwangju Free Economic Zone Authority, which will operate the country's only ‘AI Free Economic Zone,’ has officially opened.

On the 27th, Gwangju Metropolitan City held an opening ceremony at the multipurpose auditorium of the Gwangju Innobiz Center in Advanced District 3, marking the launch of the Gwangju Free Economic Zone Authority.

According to the Ministry of Trade, Industry and Energy's 2nd Basic Plan for Free Economic Zones, the Gwangju Free Economic Zone was designated last June, comprising four districts totaling 4,371㎢: ▲Future Automobile Industry District - Bitgreen National Industrial Complex ▲Smart Energy Industry District I - Energy Valley General Industrial Complex ▲Smart Energy Industry District II - Dochoem National Industrial Complex ▲AI Convergence District - Advanced District 3.

Accordingly, on the 1st of this month, the Gwangju Free Economic Zone Authority was launched as a branch organization under Gwangju City, staffed with a total of 45 personnel including a level 1 equivalent commissioner, an Innovation Growth Headquarters Director (level 3), 3 departments (level 4 managers), and 9 teams (level 5 team leaders).

The Gwangju Free Economic Zone Authority is responsible for attracting domestic and foreign investment, fostering innovative growth industries, and supporting new industry investments including regulatory special cases, aiming to restructure Gwangju’s future food industry structure based on ‘Gwangju-type jobs’ and ‘AI’ to operate as the country’s only ‘AI Free Economic Zone.’

At the opening ceremony, three investment attraction and business agreements were signed to establish an AI-based new industry innovation ecosystem and expand Gwangju-type jobs.

First, to attract Chinese investment companies, a business agreement was signed with the Korea branch of the Industrial and Commercial Bank of China. This agreement was promoted by Gwangju City, the Industrial and Commercial Bank of China, and Gwangju Technopark to attract overseas companies in Gwangju’s key growth industries by utilizing a global network.

An investment attraction agreement was also made with Japan’s J.Shangri-La Medical Co., Ltd., which is advancing cutting-edge regenerative medical projects using medical AI for disease diagnosis and treatment and cell-based cancer therapy. J.Shangri-La Medical plans to invest approximately 15 billion KRW in the advanced medical industry sector utilizing AI data.

To build an innovative ecosystem in the Gwangju Free Economic Zone, 10 organizations including the Ministry of Trade, Industry and Energy, Gwangju City, Chonnam National University, Chosun University, Gwangju Institute of Science and Technology (GIST), Korea Electric Power Corporation, Gwangju Global Motors, Gwangju Technopark, Gwangju Information & Culture Industry Promotion Agency, and Gwangju Green Car Promotion Agency also signed agreements.

Through this agreement, the Ministry of Trade, Industry and Energy and Gwangju City will provide support for building core new industry infrastructure and policy/administrative support within the Gwangju Free Economic Zone, while Korea Electric Power Corporation and Gwangju Global Motors will support technology development and investment in core industry sectors.

Chonnam National University, Chosun University, and GIST will play a role in maximizing synergy by nurturing specialized personnel in new industry fields and fostering the innovative ecosystem of the Gwangju Free Economic Zone.

Minister of Trade, Industry and Energy Sung Yun-mo said, “I hope the Gwangju Free Economic Zone Authority will play a central role in regional development and job creation by securing global competitiveness in eco-friendly energy and future car sectors based on the artificial intelligence industry.”

Kim Yong-jip, Chairman of the Gwangju City Council, said, “The Gwangju Free Economic Zone Authority will lead changes and innovation in Gwangju’s industrial ecosystem as a hub for attracting domestic and foreign investment, innovative growth industries, and regulatory special cases, creating a virtuous cycle that generates future growth engines.”

Kim Jin-cheol, Commissioner of the Gwangju Free Economic Zone Authority, said, “We will do our best to meet citizens’ expectations for job creation and economic revitalization.”

Lee Yong-seop, Mayor of Gwangju, said, “The production inducement effect, added value, investment attraction, and local job creation generated through the Gwangju Free Economic Zone will be a solid catalyst for realizing a just and prosperous Gwangju,” adding, “I hope the Gwangju Free Economic Zone Authority will become a leading force in Gwangju’s new innovative growth.”

Meanwhile, attendees at the opening ceremony included Lee Yong-seop, Mayor of Gwangju; Sung Yun-mo, Minister of Trade, Industry and Energy; Kim Yong-jip, Chairman of the Gwangju City Council; National Assembly members Yang Hyang-ja and Yoon Young-duk; Frode Solberg, Ambassador of Norway to Korea; and Choi Jong-man, Executive Vice Chairman of the Gwangju Chamber of Commerce and Industry.