Vision for the Peace Economy Special Zone
Research on Strengthening Economic and Social Connectivity with North Korea
On October 17, Paju City in Gyeonggi Province announced that it has officially begun substantial preparations required for the designation of the Peace Economy Special Zone, in line with Gyeonggi Province's plan to develop the zone in 2026.
The city determined that differentiation from existing special zones such as Free Economic Zones and Opportunity Development Zones is the most critical factor for the designation of the Peace Economy Special Zone. Accordingly, in July, the city proposed a study to the Korea Institute for National Unification on ways to strengthen the economic and social connectivity between the Peace Economy Special Zone and North Korea.
Subsequently, at the end of September, the Korea Institute for National Unification selected this study as a final project after a review process, and has since begun the research, which is scheduled to be completed by December this year.
The Korea Institute for National Unification is a policy research institute specializing in peace on the Korean Peninsula, North Korea, and unification issues, and is equipped with experts and in-depth research capabilities in inter-Korean relations and the North Korean economy.
The city expects that this research will yield key data to support the effectiveness of establishing the Peace Economy Special Zone, and plans to actively utilize the research findings as foundational material when drafting the Peace Economy Special Zone development plan that Gyeonggi Province intends to pursue in 2026.
The Peace Economy Special Zone is a special district established under the “Act on the Designation and Operation of Peace Economy Special Zones,” which was enacted and implemented in 2023. If the zone is designated in Paju City, a large-scale, integrated development encompassing industry, tourism, and residential areas will be promoted.
Through this initiative, Paju City aims to establish itself as a strategic hub for inter-Korean exchange and cooperation. The city also expects this to serve as a groundbreaking turning point for regional growth, which has been restricted due to overlapping regulations in the metropolitan border area.
Jung Haeo, Director of the Peace Economy Division, stated, “The designation of the Peace Economy Special Zone is the city’s top-priority core project for realizing Paju’s limitless potential,” emphasizing, “The research results from the Korea Institute for National Unification will serve as evidence in next year’s Gyeonggi Province Peace Economy Special Zone development plan, proving that Paju City is the optimal location for inter-Korean exchange.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
