Republic of Korea (South Korea)[edit]
Korean FEZs are designated by law[42] to facilitate foreign investment, and thereby to strengthen national competitiveness and seek balanced development among regions by improving the business environment for foreign-invested enterprises and living conditions for foreigners.
There are eight Free Economic Zones in South Korea. The first three zones were created in 2003 and three more were created in 2008.
Incheon Free Economic Zone (IFEZ) in 2003
Busan-Jinhae Free Economic Zone (BJFEZ) in 2004
Gwangyang Free Economic Zone (GFEZ) in 2004
Saemangum Free Economic Zone (SGFEZ) in 2008
Yellow Sea Free Economic Zone (YESFEZ) in 2008
Daegu-Gyeongbuk Free Economic Zone (DGFEZ) in 2008
East Coast Free Economic Zone (EFEZ) in 2013
Chungbuk Free Economic Zone (CBFEZ) in 2013