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Donghae-si designated as ODZ...a step towards becoming a leader in the hydrogen economy
Donghae-si, Gangwon State, will push for a leapforward as a center of hydrogen economy and hydrogen industry, having the Free Economic Zone (FEZ) in Bukpyeong Industrial Complex been designated as an Opportunity Development Zone (ODZ).
The ODZ provides a packaged support of tax, financial, regulatory exemption, and settlement conditions to attract large-scale investment of companies to local regions.
The name for ODZ of Donghae-si as designated on November 6 is "Hydrogen and Low-Carbon Green Industry ODZ."
The site for the designation is about 147,324㎡ in the Bukpyeong Indsutrial Complex FEZ in Guho-dong 223-2.
Currently, about KRW 20.6 billion investment and 93 job creation is planned by 7 companies including Geumgang C&T.
The city expects that the designation as ODZ will facilitate investment by companies related to the hydrogen and low-carbon green industries, attraction of new companies, and job creation.
The local communities expect such moves would prevent distinction of local regions and promote balanced regional development.
Donghae-si mayor said, "with the ODZ designation as an opportunity, we will endeavor to make our city a leader of the hydrogen economy, a promising future industry, and a center of the hydrogen industry."
yoo21@yna.co.kr
Source Text
** This article was translated from Korean.
Date
2024.11.13
Views
114
According to Yonhap News,
Donghae-si, Gangwon State, will push for a leapforward as a center of hydrogen economy and hydrogen industry, having the Free Economic Zone (FEZ) in Bukpyeong Industrial Complex been designated as an Opportunity Development Zone (ODZ).
The ODZ provides a packaged support of tax, financial, regulatory exemption, and settlement conditions to attract large-scale investment of companies to local regions.
The name for ODZ of Donghae-si as designated on November 6 is "Hydrogen and Low-Carbon Green Industry ODZ."
The site for the designation is about 147,324㎡ in the Bukpyeong Indsutrial Complex FEZ in Guho-dong 223-2.
Currently, about KRW 20.6 billion investment and 93 job creation is planned by 7 companies including Geumgang C&T.
The city expects that the designation as ODZ will facilitate investment by companies related to the hydrogen and low-carbon green industries, attraction of new companies, and job creation.
The local communities expect such moves would prevent distinction of local regions and promote balanced regional development.
Donghae-si mayor said, "with the ODZ designation as an opportunity, we will endeavor to make our city a leader of the hydrogen economy, a promising future industry, and a center of the hydrogen industry."
yoo21@yna.co.kr
Source Text
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Source: Yonhap News (November 9, 2024)
** This article was translated from Korean.