Development status by district

Gwangyang Bay Area Free Economic Zone

Types	Details
Gwangyang Zone	Area: 12.88㎢ Development concept: Logistics function Development direction: Maintaining port, steel, nonferrous metal logistics function Major facilities: Gwangyang Port, Port Background Site, CTS, etc. Complex Gwangyang Port Container Terminal Container Terminal Background（Step 1, 2） POSCO Terminal CTS Hwanggeum Industrial Complex
Yulchon Zone	Area: 27.79㎢ Development concept: Production function Development direction: Attracting overseas studying and steel-related industries Major facilities: Industrial Complex development, Container Terminal Complex Yulchon 1st Industrial Complex Yulchon 2nd Industrial Complex Yulchon 3rd Industrial Complex Yulchon Port Site
Sindeok Zone	Area: 7.9㎢ Development concept: Supporting functions Development direction: Supply of housing, education, and leisure functions Major facilities: Development of leisure facilities such as educational facilities, residential complexes, and golf courses, etc. Complex Sindae Hinterland Complex Haeryong Industrial Complex Gwangyang Sepung Industrial Complex Seonwol High-park Complex
Hwayang Zone	Area: 9.17㎢ Development concept: Tourism and recreation functions Development direction: Attracting functions such as tourism, recreation, sports, etc. Major facilities: Golf courses, marine sports, condominiums, hotels, etc. Complex Hwayang District Integrated Tourism Complex
Hadong Zone	Area: 9.63㎢ Development concept: Production support function Development direction: Attracting complex functions such as production and leisure Major facilities: Industrial complex and leisure facilities development Complex Galsa Bay Shipbuilding Industrial Complex Daesong Industrial Complex Duwoo Leisure Complex
Gyeongdo District	Area: 2.13㎢ Development concept: Tourism and recreation functions Development direction: Attracting functions such as tourism, recreation, sports, etc. Major facilities: Golf courses, condominiums, hotels, commercial facilities, etc. Complex Gyeongdo Marine Tourism Complex

• Project goals: Establishing a hub for logistics, new industry, and tourism in Northeast Asia
• Tax Support
  • Tariffs：100% for 3 years (imported materials)
  • Corporate tax and income tax: 100% for 5 years, 50% for 2 years
  • Acquisition and registration tax: 100% for 15 years (foreign investment ratio)
  • Property tax: 100% for 15 years (foreign investment ratio)
  • Logistics: USD 5 million or more
  • Manufacturing and tourism business: over USD 10 million
• Subsidy support
  • Offering discounts on land leases and rental fees to foreign companies
  • Providing discounts on lease fees for state-owned and public property, allowing the use of profits under private contracts, and allowing loans and sales to foreign companies
• Other Support
  • Permission of a foreign educational institution with the approval of the Minister of Education
  • Permission for foreign hospitals and pharmacies based on foreign capital
  • Expansion of overseas broadcasting retransmission channels