Designation of Paju Economic Free Zone, Collaborating with LG Group 3 Companies

Paju City Establishes Cooperation System with LG Display, Innotek, and Uplus for 'Economic Free Zone Designation'

Paju City, Gyeonggi Province (Mayor Kim Kyung-il) signed a strategic Memorandum of Understanding (MOU) on the 25th at the city hall with Paju's representative companies LG Display, LG Innotek, and LG Uplus to designate an economic free zone.

On the 25th, Paju City signed a strategic memorandum of understanding for the designation of an economic free zone with Paju's representative companies LG Display, LG Innotek, and LG Uplus at the city hall. Photo by Paju City

The signing ceremony was attended by Kim Kyung-il, Mayor of Paju, executives and officials from LG Display, LG Innotek, and LG Uplus.

This agreement aims to establish an innovative ecosystem for core strategic industries within the economic free zone to ensure the successful designation of the Paju Economic Free Zone.

The main contents of the memorandum include ▲ mutual cooperation and support for the designation of the economic free zone ▲ networking among related companies within the economic free zone and support for investment attraction ▲ support for fostering an innovative ecosystem for strategic industries ▲ enhancement of cooperation with companies wishing to settle within the economic free zone.

Through this agreement, Paju City plans to further strengthen its competitiveness for the designation of the economic free zone and, leveraging the advanced industries centered on the three LG companies, develop Paju into a global advanced business hub city representing the northwest region of Gyeonggi Province.

Mayor Kim Kyung-il of Paju stated, “This agreement is an important step toward realizing ‘Paju, a self-sufficient city of one million.’ We expect that cooperation with the world-class LG companies will significantly increase the chances of being selected in the additional designation competition for the Gyeonggi Economic Free Zone.”