Status of Daejeon
- About Daejeon
- Status of Daejeon
Daejeon, the Hub City of Northeast Asia and Perfect Investment Destination
For the past forty years, Daejeon has led the future of the scientific field in South Korea.
As such, it is regarded as Korea’s best investment destination.
|Area||Population||Economically Active Population||
GDP Growth Rate
(As of Dec. 2020)
(As of Jun. 2022)
No. of Patents Applications
(As of Dec. 2020)
|540km²||1.44 million people||630 thousand people||
(Ranks 2nd in the country)
National average -0.8%
Exports : 4.953 bln
Imports : 3.813 bln
Patents : 10,867 cases
※ (Daejeon Metropolitan City statistics, Dec.31.2019)
Mecca for the R&D and Knowledge IndustryIn the Daedeok INNOPOLIS, which is the largest of the five R&D zones in Korea, roughly 60.48% of the KRW 12 billion government budget for R&D is invested. Here, the clusters of government-funded and corporate research institutes are established, and small and medium-sized SMEs and startups in advanced fields such as MT, BT, and ICT are actively engaged in business activity.
Center of Administration in KoreaThe Daejeon Government Complex, TRADOC (Training and Doctrine Command), Logistics Command are located in Daejeon, and the Government Complex of Sejong is close to it. Daejeon is home to many central administrative agencies, including the Korea Customs Service, Public Procurement Service and the Korean Intellectual Property Office. The city offers one-stop services for various licensing to support foreign-invested companies quickly.
Foreigner-Friendly EnvironmentA top-class living environment for foreigners has been built in Daejeon. Daejeon Christian International School has introduced the International Baccalaureate (IB) for the first time in South Korea, and high-quality medical institutions, which are exclusive for foreigners, are located in the area. Moreover, complex-type foreign investment zones are formed within the central districts of the International Science & Business Belt to lease land to foreign-invested companies at an affordable price and actively support foreign investment promotion.
Investment Qualified Place with International Credit RatingDaejeon is the No.1 city for business as it has received an excellent credit rating from the global leading credit-rating agencies. As of June 2022, Moody's credit rating for the city is "Aa2", the same as Korea and France, which is higher than the UK's Aa3 or Japan's A1 rating. Despite not being Korea's capital city, Daejeon has the same credit rating as the country, making it a qualified investment destination.
Daejeon Metropolitan City
Daejeon's Self-governing Districts