The Chungbuk Free Economic Zone (CBFEZ) is a Free Economic Zone in Chungcheongbuk-do, South Korea. It includes the cities of Chungju and Cheongju. The zone was announced on February 14, 2013.
Location Chungbuk Free Economic Zone is a central transport hub in South Korea. Cheongju International Airport is located there.Chungcheongbuk-do pushes for Designation of Solar Energy Special Zone, Korea IT Times
Investment Incentives Chungbuk is one of eight Free Economic Zones established to attract foreign investment. The Korean government has created investment incentives such as tax breaks for foreign companies, relaxed labor regulations and investment subsidies.Free economic zones to be retooled, Korean Times The Korean government describes CBFEZ as having "the most optimized access to the nation".Background of Promotion , Chungbuk Free Economic Zone Authority The entire country is within 2 hours by train.Aeropolis Project Overview , Chungbuk Free Economic Zone Authority
Projects The Chungbuk Free Economic Zone includes three core investment projects: "Bio Valley", "Aeropolis" and "Ecopolis".CBFEZ Introduction , Chungbuk Free Economic Zone Authority
Bio Valley Bio Valley is intended to attract investment in biotechnological, pharmaceutical and medical research.Biovalley Project Overview , Chungbuk Free Economic Zone Authority Related government agencies are located there, and plans have been made to establish a university specializing in biotechnology research.Osong Biovalley Construction , Invest Korea Location: Near Osong-eup, Cheongwon-gun, Chungcheong Buk-do (near Osong KTX Station) Area: 4,414,898 m2 Project Cost: 1.888 trillion KRW Project Period: 2013~2020
Aeropolis Aeropolis is intended to focus on airplane manufacture and maintenance, as well as aeronautical research. The first priority is the construction of a maintenance, repair and overhaul complex for the airport.Aerospace Industry Complex at Cheongju International Airport , Invest Korea Location: Naesu-eup, Cheongwon-gun, Chungcheong Buk-do Area: 473,713 m2 Project Cost: 1,569 billion KRW Project Period: 2013~2020
Ecopolis Ecopolis is focused on environmentally benign economic development,Ecopolis Project Overview , Chungbuk Free Economic Zone Authority including an eco-friendly resort. Over US $25 million in tax subsidies have been promised for investors.Chungju Enterprise City (Green Techopolis) , Invest Korea Location: Gageum-myeon, Chungju City, Chungcheong Buk-do Area: 4,196,416 m2 Project Cost: 659.1 billion KRW Project Period: 2013~2020
See also Free economic zone Foreign direct investment
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