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Chungbuk (CBFEZ) | [CBFEZ] CBFEZ to Attract Companies in the Metropolitan Area
The Chungbuk Free Economic Zone Authority (hereinafter “CBfez”) invited over 150 CEOs and executives of companies located in the metropolitan area, and held the “Chungbuk
Free Economic Zone Investment Attraction Conference” at the Hotel President in Seoul on July 13. This conference was prepared to introduce the location and infrastructure of
the Chungbuk Free Economic Zone, including Osong Bio Valley and Cheongju Aeropolis for the BT, high-tech, aviation, and logistics companies located in the Seoul Metropolitan
Area, and to attract investments from those companies.
Department Manager Yun Chea-Ho of the Investment Attraction Department of CBfez introduced the differentiated investment environment exclusive to the CBfez, which has an
excellent location with roads running in all directions, and plentiful human resources. The major details were as follows: Locational characteristics, key strategic industries for each
district, infrastructure, housing information, and other information on the Biomedical District (Osong High-Tech Medical Complex), Biopolis (Osong 2nd Bio Technopolis), and
District 1 and 2 of Cheongju Aeropolis. Furthermore, consulting booths were prepared inside the conference venue to hold in-depth consultations focusing mostly on specialized
residency conditions for each district, and administrative supports.
Governmental Affairs Vice-Governor Seol Mun-sik of Chungcheongbuk-do said, “We will provide all the administrative supports and incentives so that people will have confidence
that they will succeed if they invest in Chungcheongbuk-do based on its specialized infrastructure and differentiated investment conditions, which are available only at Chungbuk
Free Economic Zone”, and added, “With the faith that investment attraction means creation of jobs, we will strengthen even more the customized attraction activities in connection
with the strategic industries of Chungcheongbuk-do and investment attraction activities aimed towards foreign companies.”
Osong Biomedical Complex (Osong High-Tech Medical Complex) has a total size of 1.131 million ㎡, and medical R&D institutions, core research supporting facilities, clinical trial
centers, and other related institutions will move in. The sales price for the research sites where research centers on pharmaceutical products and medical devices have moved in is
around KRW 670,000 per 3.3㎡.
Osong Biopolis District (Osong 2nd Bio Technopolis) is close to the KTX Osong Station. A total of 3.284 million ㎡ is being developed, and currently residential, commercial, and
supporting facilities sites have been completely parceled out. The remaining sites where the BT, IT, and high-tech industries can move in are being parceled out on a first-come
first-served basis for around KRW 970,000 per 3.3㎡.
Cheongju Aeropolis District, which will be built near the Cheongju International Airport, has a size of 474,000㎡, and is the only airport-centered free economic zone in Korea.
The main industries are aviation and logistics. The industrial site sales price for District 2 is expected to be around KRW 900,000 per 3.3㎡, and is being developed with the goal
of having companies move into the district by 2020.