17 Local Governments

Local Governments

Korea’s17 local governments provide specialized investment environments and services.

Click the map to find out the investment information of each region.

Seoul, emerging as the Northeast Asia’s business hub

Seoul, the capital of Korea, is rising rapidly as the Northeast Asia’s business hub. It is geographically situated between Asia’s two largest economic powers including China and Japan. Although Seoul takes up a mere 0.6 percent of Korea’s territory, it accounts for 21 percent of Korea’s total GDP with more than 50 percent of financial-related industries accumulated.

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Incheon, leading the economic development of Korea

Only 28 kilometers away from Seoul, Incheon has led the economic development of Korea by expanding the Incheon Port, opening the Incheon International Airport in March, 2001, building various industrial, logistics, tourism and leisure complexes and new types of residential facilities, developing Songdo International City, Cheongna and Yeongjong districts, establishing the Free Economic Zone Authority in October, 2003 and hosting the 2014 Asian Games.

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Daejeon, the transportation hub of Korea

Daejeon has the advantage of being adjacent to the recently developing Multifunctional Administrative City of Sejong and having an easy access to transportation infrastructure. While the city is transforming into a science city with the establishment of Daedeok Research Complex, it is playing its role as an administrative city with the Government Complex Daejeon.

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Daegu, a high-tech industry city based on industrial infrastructure

Daegu City is renowned for its cutting edge industry based on its well-established industrial infrastructure. The city has been actively engaged in various national projects, such as designation of special R&D zone, development of knowledge-creation free economic zone and establishment of national science industrial complex, technopolis, comprehensive cutting edge medical complex and robotic industry cluster, and regional development project.

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Gwangju, the largest photovoltaic industry city in Korea

Gwangju boasts the largest photovoltaic production cluster in Asia with its relentless effort to boost the photovoltaic industry, which is considered the appropriate future-oriented cutting edge industry in the 21st century. Gwangju is the most advanced city in the photovoltaic industry. As the city of democracy, human rights and peace, Gwangju is playing a pioneering role in safeguarding democracy of the past and is emerging as the hub of cultural industry in Asia with its cultural prosperity and flourishing art.

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Ulsan, Asia’s 4th largest production city

Ulsan City, the largest industrial city in Korea, ranked 4th in production among Asian countries. It accounts for 15.23% (2012, ranked No.2 in the nation) of Korean industrial production and recorded 101.5 billion dollars (2011, ranked No.1 in the nation) and 56,170 dollars (2012, ranked No.1 in the nation) in exports and per capita GRDP, respectively. Cheap land for industrial use, abundant workforces and great industrial infrastructure have enabled the city to be evaluated as the most corporate-friendly city in Korea based on its 50 years of history as an industrial city.

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Busan, World’s 5th largest cargo port

Busan, with a population of 4 million, is located in the Northeast part of Korea. Along with its magnificent scenery, Busan is called the city of commerce and industry. Busan Port has maintained its status as the leading trading port in Northeast Asia since its opening as an international port in 1876. In addition, the city accounts for 90% of the container shipment and is the world’s 5th largest cargo port.

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Gyeonggi Province, the hub connecting East Asia and the Pacific

As the center of Northeast Asia, Gyeonggi Province offers a favorable investment environment for promoting business activities in China and other countries. The province also provides excellent transport infrastructure and customized support services to encourage investment to enable the companies to efficiently and successfully pursue their business activities.

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Gangwon Province, the Mecca of Korean tourism and leisure industry

The expressways, Yangyang International Airport and Donghae Port provide easier access to Seoul and other metropolitan cities in Korea. Also, its transportation and other industrial infrastructure for mass production support business activities. The province helps corporations to capitalize on the professional human resources cultivated by some 140 educational institutions. As the host for the Pyeongchang Winter Olympics 2018, it is considered the Mecca of Korean tourism and leisure industry.

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North Chungcheong Province, a gateway to Sejong City

North Chungcheong Province boasts its well-established transport infrastructure including Cheongju International Airport, KTX Osong Station and grid highways. The province is also known for its best IT and BT industry, industrial complexes in Osong and Ochang, excellent infrastructure, optimal industrial sites and skilled workers.

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South Chungcheong Province, located at the center of Korea

South Chungcheong Province, located at the center of Korea, can reach any regions in Korea within two hours. The province boasts its optimal investment environment with abundant human resources, perfect social overhead capital, reasonably priced land, the cheapest and most stable electricity supply and enough industrial water.

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North Gyeongsang Province, the hub of the global electronic and textile industry

North Gyeongsang Province has driven the Korean economy as the hub of the global electronic and textile industry. It has abundant human resources in research and development. It is also home to 47 universities, the second largest following Seoul. The province is the perfect place for investment with its well-established transportation network including expressways, railways and airports, abundant land for industrial use, talented industrial human resources and business strategies.

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South Gyeongsang Province, a massive consumer market of 15 million people

South Gyeongsang Province has a massive consumer market of 15 million people with its advantage of being adjacent to the Southeastern industrial cluster, Busan Metropolitan City, Gwangyang-Jinju metropolitan area and Daegu-Pohang metropolitan area. Also, the province is well-known for its largest industrial complex for transportation equipment and cutting-edge defense industry with the well-established R&D infrastructure including national research institutes, universities and corporate research institutes.

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North Jeolla Province, playing a central role in Korea’s trade with China

North Jeolla Province boasts its clean environment, prosperous history and culture and unique traditional food, fashion and music. Its on-going projects including Saemangeum Project and New Gunjang Port make the province play a central role in Korea’s trade with China. It is diversifying its businesses from paper and textile to automobile and shipbuilding. Since 2007, it has been developing new growth engines such as components and materials, food and renewable energy.

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South Jeolla Province, a gateway to China

Northeast Asia is expected to play a pivotal role in the global trade and logistics in the 21st Century. At the center of Northeast Asia lies South Jeolla Province boasting a business-friendly environment including the designation of Daebul Free Economic Zone and Gwangyang Bay Area Free Economic Zone. It is serving as a gateway to China by helping local companies expand their businesses to the Pacific region.

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Jeju Island, the land of promise

The volcanic island Jeju and lava caves are recognized all around the world as they have been listed on the UNESCO World Heritage Site. The Korean government designated Jeju as the Free International City in 2002. In 2006, the government designated the island as the special self-governing province so to allow Jeju to exercise all administrative authority except for defense, diplomacy and jurisdiction. Anyone can benefit from tax breaks and realize their future with the proactive administrative support from the island.

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Sejong Special Self-Governing City is the administrative capital of Korea.

The city was built to balance the national development and enhance the national competitiveness by resolving the adverse effects caused by the excessive concentration in Seoul. With the international science business belt project, the city is attracting scholars around the world. It is also becoming the pivot of the national growth network by converging science and business.

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