Gapyeong-gun Added to Peace Economy Special Zone
Laying the Groundwork for Inter-Korean Exchange Hub
On August 1, the Ministry of Unification announced that it had issued a legislative notice for a partial amendment to the Enforcement Decree of the Act on the Designation and Operation of the Peace Economy Special Zone, the main content of which is the addition of Gapyeong-gun in Gyeonggi-do and Sokcho-si in Gangwon Special Self-Governing Province to the Peace Economy Special Zone.
This measure follows the revision of the Enforcement Decree of the Special Act on Support for Border Areas on March 11, which newly designated Gapyeong-gun and Sokcho-si as border areas. The core of the amendment is to provide a legal basis for these two regions to participate in projects related to the Peace Economy Special Zone.
The Peace Economy Special Zone is a national strategic specialized zone designated under the Peace Economy Special Zone Act, with the aim of realizing inter-Korean economic cooperation and joint prosperity, focusing on border areas adjacent to North Korea. Once designated as a special zone, comprehensive administrative and financial support is provided to developers and resident companies, including simplified licensing and permits, reduction of local taxes and charges, and support for infrastructure.
With this amendment, Gapyeong-gun is expected to become the eighth Peace Economy Special Zone in Gyeonggi-do, which is anticipated to serve as a key milestone for balanced development through the development of border areas. In particular, it is evaluated as a turning point for securing long-term growth engines such as industrial stimulation and job creation.
Gapyeong-gun plans to actively utilize government support following the designation of the Peace Economy Special Zone, based on its strategic location adjacent to the Seoul metropolitan area, its pristine natural environment, and the unique characteristics of a border area, to establish specialized strategies. To this end, around October, the county will launch a research project to assess the feasibility and establish the master plan for the creation of the Gapyeong-gun Peace Economy Special Zone, thereby systematically building a specialized model for the region.
An official from Gapyeong-gun stated, "The inclusion in the Peace Economy Special Zone is a golden opportunity to newly design the foundation for Gapyeong-gun's future industries," adding, "We will fully utilize Gapyeong's locational advantages and local resources to establish a differentiated Peace Economy Special Zone model from other local governments, and proactively respond to future special zone designations."
Meanwhile, in accordance with Article 41 of the Administrative Procedures Act, the Ministry of Unification will accept public opinions on this partial amendment to the Enforcement Decree until September 10.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
