[Interview] Lee Dong-hwan, Mayor of Goyang, "Goyang Economic Free Zone is the Future Engine That Will Change the Economic Map of Goyang and South Korea"

Fostering Economic Free Zones as Economic and Logistics Hubs Leveraging Locations in Seoul, Incheon Airport, and Incheon Port
Cultivating Talent through Cultural Content, MICE, ICT Industries, R&D Centers, and Foreign Universities
Underground Gangbyeonbuk-ro to Gyeongbu Expressway, Northwest Extension of Sinbundang Line, and Express Service on Ilsan Line

Lee Dong-hwan, Mayor of Goyang Special City, said, "Goyang City has all the conditions to be recognized as an economic free zone, including clean streets like Songdo, leisure facilities, and high-quality educational services." [Goyang City]

[Asia Economy Reporter La Young-chul] Since the launch of the 8th term of the local government, Goyang City has been putting all its efforts into administrative innovation to designate an economic free zone and leap forward as a self-sufficient city.

The newly established Self-Sufficient City Realization Bureau, Economic Free Zone Promotion Division, and Future Industry Division, created through the expansion of special city authority, play a key role in the final designation of the economic free zone and securing future growth engines.

The city plans to boldly invest in establishing development plans for the economic free zone, improving the investment environment, and preparing measures to expand metropolitan railroads, as well as increasing budgets for resident-tailored redevelopment and reconstruction, and the expansion of safety facilities.

Mayor Lee Dong-hwan recently inspected the Dubai Airport Free Zone (DAFZA), Dubai Healthcare City, and the World Trade Center in the United Arab Emirates, which are representative economic free zones in the Middle East, to understand the current status and success stories of Dubai’s growth as a global economic special zone.

Prior to this, he visited three key institutions playing a central role in corporate attraction: the Israel Innovation Authority, the Weizmann Institute, and BioHouse, to explore strategies for promoting a self-sufficient city including the establishment of the Goyang Economic Free Zone.

In Israel, there are about 400 R&D centers of global companies such as Apple and Facebook, and the Dubai Airport Free Zone, covering approximately 20,000 pyeong, houses over 2,000 companies including global corporations.

Mayor Lee evaluated, "Israel and the United Arab Emirates embody exactly the kind of economic free zone that Goyang City dreams of."

He added, "The Israel Innovation Authority generously invests in startups during their early stages and recovers the investment once the companies grow and stabilize. If this approach is introduced to the Goyang Economic Free Zone, it will be possible to attract highly creative talents and business ideas," sharing the outcomes of his Middle East visit.

In particular, at the Masdar Economic Free Zone in Abu Dhabi, where large-scale development projects are underway, he learned about the difficulties and solutions during the development process and future plans, finding ways to reduce potential problems when promoting the Goyang Economic Free Zone.

The mayor expressed confidence, saying, "Goyang City is adjacent to Seoul and Incheon Airport. If we leverage these characteristics, I saw hope during this inspection that we can establish an industrial base similar to those cities."

He continued, "We will thoroughly analyze the corporate attraction cases of economic free zones in each city, incorporate Goyang’s strengths, and seek ways to foster an economic free zone focused on economy and logistics."

Goyang City plans to concretize corporate attraction activities starting next year through development plan research services to facilitate smooth development as the Gyeonggi Economic Free Zone, focusing on nurturing cultural content, MICE, and ICT industries.

The mayor stated, "I plan to actively communicate with companies by directly listening to their needs and promoting various tax benefits and financial support," adding, "Once the economic free zone designation is confirmed, we are also considering attracting R&D centers and foreign universities to foster talent."

Regarding Goyang City’s advantages as an economic free zone, he emphasized, "It has all the conditions to be evaluated as a livable city, such as clean streets like Incheon Songdo, leisure facilities, and quality educational services," and added, "Geographically, it is located right next to Seoul and the Han River, and is a central hub for logistics movement in northern Gyeonggi, close to Incheon and Gimpo Airports, Incheon Port, and Pyeongtaek Port."

He further noted, "The Goyang Economic Free Zone will also have the effect of revitalizing the regional economy in neighboring cities, alleviating the adverse effects of the triple regulations imposed on the city, and bringing balanced development to the entire Gyeonggi Province."

Since taking office, the mayor set a goal to make the organization flexible ahead of the designation and establishment of the economic free zone.

He said, "I had a conviction to operate the city with a 'managerial mindset' that prioritizes goals and performance," and added, "Goyang City needs a 'diet' through organizational restructuring that responds more sensitively to goals and changes."

To this end, departments were merged and abolished with a focus on reorganizing urban, self-sufficient, and safety functions. Plans were also made to secure new resources through expanding public contest projects and revitalizing private investment projects.

The mayor stated, "We will strategically respond to current issues by reinforcing departments related to the reconstruction of the first-generation new town, strengthening self-sufficient functions, and metropolitan transportation," and added, "Wasteful projects will be reexamined from the ground up, and budgets essential to citizens will be prioritized."

Regarding the future appearance of Goyang City after the development of the economic free zone and improvement projects for old and stagnant downtown areas, he expressed expectations, saying, "New jobs will be created through the attraction of many companies, and the economic level and asset value of citizens will also increase through the redevelopment of the first-generation new town."

He added, "Once the planned projects such as the undergrounding of Gangbyeonbuk-ro and Gyeongbu Expressway, the northwest extension of the Shinbundang Line and extension to Ilsan, the express extension of Line 9 to Daegok, and the expressification of the Ilsan Line (including Line 3) are completed, Goyang will be reborn as a 'well-connected' global self-sufficient city."

In particular, he expressed confidence, saying, "Through active corporate activities and attracting foreign capital, I am convinced that this will lead to significant improvements in the financial conditions of not only Goyang but also the Republic of Korea," and declared, "Since this is a historic moment that will change the economic map of Goyang City and Korea, I will devote all my passion."