GFEZ(Gwangyang Bay) - Area Information - Korean Free Economic Zones

Gwangyang Bay Area Free Economic Zone

The Investment Center of the Future

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Gwangyang Bay Area Free Economic Zone

The Investment Center of the Future

GFEZ is developing into a functional chemicals and advanced new materials industry cluster based on POSCO Gwangyang Steel Mill and Yeosu National Industrial Complex. In particular, a secondary battery cluster is forming around anchor companies specializing in secondary battery materials, such as POSCO Future M. GFEZ also boasts stable industrial infrastructure and a business-friendly environment, such as Gwangyang Port, which is strategically located at the center of Northeast Asia's shipping and logistics hub. Additionally, the cultural tourism industry, which embraces the beautiful natural scenery of the picturesque archipelago, is also developing rapidly, helping make the area an overall more attractive place to live and do business.

Designation Date2003.10.30
Development period2004 to 2030

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Advantages

Optimal shipping logistics base in Northeast Asia

Ideal location for global logistics business as transshipment hub in Northeast Asia
Over 200 to 300 million tons of cargo transported annually, 250 to 300 million tons of cargo handled annually
Incoming roads and railways, hinterland logistics complexes, container ports, etc. are organically designed to handle large volumes of import and export goods.

Excellent industrial infrastructure attracting global companies

Stable industrial background facilities based on large industrial complexes
Smooth raw material supply through connection to POSCO Gwangyang
Steelworks and Yeosu National Industrial Complex
Creation of a secondary battery materials cluster centered on global companies such as POSCO Future M and POSCO Lithium Solution

Diverse transportation infrastructure, such as air, port, road, and rail

Gwangyang Port, a world-class international port connecting Asia, North America, Europe, and Africa
Four airports, including Yeosu Airport, Sacheon Airport, Gwangju Airport and Muan International Airport, within an hour's drive
5 interstates within 3 hours of the metro area, KTX within 2 hours and 30 minutes

Comfortable and pleasant living environment

A large hinterland residential complex with various living and cultural facilities, a convenient transportation network, and a pleasant natural environment.
634 general hospitals with 7,000 beds, providing medical facilities for acomfortable living environment
Beautiful natural surroundings and abundant tourism and cultural resources, such as Dadohae Maritime National Park, Suncheon Bay National Garden, 9 national and provincial parks

Gwangyang Bay Area Free Economic Zone Major projects

Gwangyang District

12.88㎢
- LocationGolyak-dong, Gwangyang-si, Jeollanam-do
- Project cost65,728 billion
- Project period1987 ~ 2025
- Development of industrial complexesGwangyang Container Pier,Container Pier Hinterland (East Side, West Side), POSCO Terminal CTS, Hwanggeum Industrial Complex.
- Create a northeast Asian hub centered on Gwangyang Harbor
- Create an international hub for northeast Asia’s added value freights
Yulchon District

18.03㎢
- LocationYulchon-myeon, Yeosu-si, Jeollanam-do, etc.
- Project cost27,534 billion
- Project period1994 ~ 2030
- Development of industrial complexes Yulchon 1st Industrial Yulchon 2nd Industrial Complex, Yulchon Port Area
- Create a production hub by attracting the related industries, such as steel, machine, new renewable energy
- Create an industrial land that connects with Yeosu Airport and Yulchon Harbor sites
Shindeok District

7.83㎢
- LocationHaeryong-myeon, Suncheon-si, Jeollanam-do, Gwangyang-eup, Gwangyang-si, Jeollanam-do
- Project cost18,585 billion
- Project period2003 ~ 2030
- Planned population44,688
- Development of industrial complexesSepung Industrial Complex, Haeryong Industrial Complex, Sindae Hinterland, Seonwol High Park Complex
- Develop a background support city through the development of large scale residence, commercial, and business districts
- Create an eco-friendly downtown area to create a pleasant settlement environment
Hadong District

9.70㎢
- LocationGeumnam-myeon, Geumseong-myeon, Hadong-gun, Gyeongsangnam-do
- Project cost21,876 billion
- Project period2008~ 2024
- Planned population 25,520
- Development of industrial complex Daesong Industrial Complex, Galsaman Shipbuilding Industrial Complex, Duwoo Leisure Complex
- Establish a global offshore plant cluster through the attraction of offshore plant industry and research organizations
- Create a self-mocking production city through the development of leisure and background support
Hwayang District

6.43㎢
- LocationHwayang-myeon, Yeosu-si, Jeollanam-do
- Project cost10,524 billion
- Project period2003 ~ 2024
- Planned population 57,964
- Development of industrial complexHwayang Complex Tourism Complex
- Promote as the hub for the southern coast tourism belt
- Create a tourist resort complex that can be used all seasons
Gyeongdo District

2.15㎢
- LocationGyeongho-myeon, Yeosu-si, Jeollanam-do
- Project cost15,000 billion
- Business period2017 ~ 2029
- Development of industrial complexGyeongdo Maritime Tourism Complex
- Develop Korea’s one and only ‘island marine tourism district’
- Create a stay-type tourism district where both healing and leports activities are available

Major resident companies

[Korea] POSCO Future M (formerly POSCO Chemical)
Electrical Appliance Manufacturing
[China] Gwangyang Aluminum Manufacturing
[Korea] Hyundai Steel Manufacture of metal and
fabricated metal products
[Korea] Hyundai Glovis Land and pipeline transportation
[Korea/Virgin Islands]
POSCO HY Clean Metal Precious metal extraction
[Korea/Australia]
POSCO Pilbara Lithium Solution Chemical and chemical product manufacturing
[Korea] SeAH Steel Other machinery and equipment,
Primary metals
[Korea]
Sangsangin Marine Machinery Other Machinery and Equipment Manufacture
[China] HAM Milk powder manufacturing
[Korea/France] SNNC Nickel Smelter