The 55th Regional Specialized Development Zone Committee Meeting Held
Muan County in Jeollanam-do, Jincheon and Eumseong Counties in Chungcheongbuk-do, and Jung-gu in Ulsan have been newly designated as regional specialized development zones. The Ministry of SMEs and Startups (Minister Lee Young) announced on the 29th that the 55th Regional Specialized Development Zone Committee (hereinafter referred to as the Committee) reviewed and approved a total of 14 agenda items, including 3 new designations of regional specialized development zones, 9 cancellations of designations, and 2 reports.
The newly designated special zone in Muan County, Jeollanam-do (Muan Ceramic Complex Industry Special Zone) plans to invest 23.3 billion KRW over five years to develop ceramic brands by utilizing the local conditions where the daily ceramic industry is concentrated. It will apply six regulatory exemptions, including the Road Traffic Act, to foster the ceramic industry.
Jincheon and Eumseong Counties (Jincheon-Eumseong Carbon Neutrality Testing and Certification Industry Special Zone) will invest 73.6 billion KRW over five years in projects such as establishing a carbon neutrality testing and certification infrastructure by utilizing specialized testing and certification institutions in the region. Five regulatory exemptions, including the Patent Act, will be applied to develop the area as a testing and certification hub for carbon neutrality infrastructure.
Jung-gu Office in Ulsan (Ulsan Jung-gu Taehwa History and Culture Special Zone) will invest 45.8 billion KRW over five years in projects such as the traditional history and culture inheritance project by utilizing local historical and cultural assets such as Gyeongsangjwa-do Byeongyeongseong Fortress. Three regulatory exemptions, including the Building Act, will be applied to specialize and develop the cultural and artistic fields into a high value-added industry.
At this Committee meeting, agenda items regarding the cancellation of designation for nine special zones, including Buan Clean Silkworm Town Special Zone, which wish to terminate due to project completion, were reviewed and approved, and reports on the 2023 regional special zone operation performance evaluation were presented.
Minister Lee Young said, "We hope that the new designation of regional special zones will invigorate the regions through active investment and new employment by local governments."
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