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GFez 광양만권경제자유구역청

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GFEZ, an ideal investment in NE Asia

Gwangyang Bay Area Free Economic Zone offering great investment opportunities
If you are looking for an ideal investment, GFEZ is the answer.

Current Status of 1st Industrial Complex Project of Yulchon

project overview(1994~2022)
  • LocationSwath of Yulchon-myeon in Yeosu, Haeryong-myeon in Suncheon, and the sea in Gwangyang-eup, Gwangyang.
  • Area9.11㎢, 2.67 million pyeong (sale area 6.24, public facilities, etc. 2.87)
  • Project expensesKRW1,259.6 billion(government expenses 2,747, Local expenses 8,057, private expenses 1,792)
  • ImplementerJeollanam-do (Gwangyang Bay Area Free Economic Zone Authority)
  • Attraction businessprimary metal, assembly metal, machinery, manufacturing, etc.

Progress so far

  • 1992. 06.

    Yulchon 1st Regional Industrial Complex Designation Notice (Jeonnam-do)

  • 1994. 12.

    Starting of construction of Yulchon 1st Regional Industrial Complex (Hyundai Motors)

  • 2003. 10.

    Gwangyang Bay Area Free Economic Zone Designation Announcement (former Ministry of Finance and Economy)

  • 2005. 12.

    Termination of development contract for Yulchon 1st Regional Industrial Complex (Hyundai Motors)

  • 2006. 01.

    Starting of direct development by the Gwangyang Bay Area Free Economic Zone Authority

  • 2012. 01.
    ~ 2020. 02.

    Step-by-step partial completion’(6.21 million square meters in 2012, 0.23 million square meters in 2014, 1.94 million square meters in 2016, 0.43 million square meters in 2020)

  • 2020. 03.

    Completion of Yulchon 1st Regional Industrial Complex Construction

    Construction of industrial complex (completed)

    ▶ project period: ‘94.12. ~ ‘20.3. ▹ business expenses : 1.2596 trillion won

    ▶ project volume: Site development 8.56 million ㎡, road building 31 km, etc.

    󰁾 Incomplete: 2 privately implemented internal roads / L=1.4km(Orient Shipbuilding 0.7, POSCO 0.7)

    󰁾 sale rate: 93.2%(5.87㎢ out of 6.30㎢ was sold), 153 lots (sale price KRW460,000/pyeong)

Future plans

Future plan For the Yulchon 1st Industrial Complex, which has a high sales rate, refrain from changing the implementation plan and instead promote sales to companies with a large attraction effect
Future plan'22. 12. Relocation for a secondary battery material manufacturing company (POSCO) and installation of infrastructure
- Infrastructure(Road L=1,437m, Implementers: Orient Shipbuilding, POSCO). when the infrastructure is finished, the project is completed./b>
1100, Indeok-ro, Gwangyang-eup, Gwangyang-si, Jeollanam-do, Republic of Korea (57741) /
Phone 061-760-5114, 5223

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