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Introduction to GFEZ

Gearing up to become the world¡¯s best center of industry and logistics

The Gwangyang Bay Area Free Economic Zone(hereinafter ¡°GFEZ¡±) was designated as an FEZ
on October 2003, the second of its kind in the nation, following IFEZ, with the aim to build the
world¡¯s best hub of logistics and advanced industry.

Korean FEZs Accelerating Their Steps toward Becoming the Hub of Northeast Asia

Korea¡¯s Ministry of Knowledge Economy (MKE) has steadily maintained its moves to designate
Free Economy Zones (FEZ) in the nation since its first FEZ designation of IFEZ in 2003 in order to
strategically respond to anticipated economical difficulties especially in the regional market and
thus secure new growth engines.
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