Paju City Takes Major Steps to Designate Bio and Display Hub as Free Economic Zone

Paju City Launches Free Economic Zone Designation Initiative
Aiming to Become an International Self-Sustaining City Beyond Its Border Location
Accelerating the Creation of a Future-Oriented Industrial Ecosystem

Paju City, which was selected as a candidate site for the Gyeonggi Free Economic Zone in April last year, has embarked on the challenge of being officially designated as a central government-approved free economic zone.

Kim Kyungil, Mayor of Paju City, held the "Paju Free Economic Zone Designation Service Kickoff Meeting" on the 20th. Provided by Paju City

On January 20, Paju City held the "Paju Free Economic Zone Designation Service Kickoff Meeting," attended by Mayor Kim Kyungil, the Deputy Mayor, and key city officials including heads of relevant departments and divisions. During the meeting, they discussed strategies and plans to obtain the free economic zone designation, clarified the roles and schedules for each department, and reviewed the application process and execution system required by the Ministry of Trade, Industry and Energy.

A free economic zone is a special area established to improve the business environment and living conditions for foreign-invested companies and domestic companies returning from overseas, thereby promoting foreign investment and attracting businesses. Once designated, various incentives such as tax benefits are provided to foreign-invested and returning domestic companies, enhancing the conditions for businesses to settle. Attracting core companies based on these incentives is expected to create quality jobs, revitalize the local economy, and bring vitality to the entire city.

In addition, with the activation of urban development projects such as international schools and sports facilities, living conditions are expected to improve significantly, opening up new opportunities for Paju to become a self-sustaining city of international standards.

The Paju Free Economic Zone is centered around the Gyoha-dong area, adjacent to Unjeong New Town, and has designated bio, display, and media content industries as its strategic sectors. The area was selected as a candidate site for Gyeonggi Province due to its high evaluation in terms of necessity for designation, growth potential, and strong linkage with the industrial structure of the Seoul metropolitan area.

Through this service, the city plans to establish a response plan for government designation, and in particular, to further specify investment attraction strategies and business support policies to build a practical foundation for attracting companies. At the same time, Paju aims to develop a feasible development plan so that the area can be designated as a free economic zone in line with national industrial policies and global investment trends.

Jung Haeo, Director of the Peace Economy Division, stated, "The free economic zone is a strategic turning point for Paju City, which has faced various regulations due to its border location, to transform into an international self-sustaining city centered on advanced industries. We will thoroughly prepare to achieve designation by the Ministry of Trade, Industry and Energy."