Korean Free Economic Zone

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Korea Free Economic Zones (KFEZ) are areas designed to boost Korea’s economy and help regions grow by improving living conditions and the business climate for foreigners. The government’s economic zone planning office runs the program. The government offers tax breaks, simpler rules, a better living environment, and faster services for foreign firms and people. KFEZs aim to create global-standard institutions and many incentives. In 2021, foreign investment in KFEZs rose 42% to $1.31 billion. Manufacturing receives the most investment, followed by services like logistics and research and development. The European Union invested the most in Korea’s FEZs.