The Daegu Gyeongbuk Free Economic Zone Office of Daegu and North Gyeongsang Province recently held a business promotion event for the Daegu and North Gyeongsang Free Trade Zone in Shanghai. Lee In-sun, head of the Daegu and North Gyeongsang Free Economic Zone Administration, and representatives of Korean companies in Shanghai, Shanghai government officials, and companies interested in investing attended the briefing.
Lee In-sun, head of the Daegu and North Gyeongsang Free Economic Zone Office
Lee In-sun is the former head of the Daegu Institute of Science and Technology, the first female vice governor in Korea, and the first female head of the Free Trade Zone in the history of Korea.
In an interview, he introduced the charm of the free trade zone. First, we have strong human resources. Specialized universities produce 70,000 skilled workers every year, so companies will have no worries when they move in. The second is geographical advantage. For example, North Gyeongsang Province is 100 minutes away from Seoul and 45 minutes away from Busan. It is surrounded by seven international ports and three international airports. Third, I am myself. I believe that I have the ability and energy to provide support for the development of Chinese enterprises in South Korea and help them survive and develop in South Korea. Now the relationship between China and South Korea is warming up, and I always think the economic ties between China and South Korea are very important."
As for the idea of building a community of shared future for mankind through the Belt and Road Initiative, the free trade zones of various countries should establish creative and new cooperative relations with the characteristics of the new era, Li Renshan said that this is her fifth visit to Shanghai, and she plans to visit the Shanghai Free Trade Zone during her next visit to communicate with enterprises and institutions there. "Although the exchange was short this time, I believe the seeds of friendship have been sown. I hope you will visit Daegu and North Gyeongsang Province next time."
According to the Daegu and North Gyeongsang Free Economic Zone Office, the major industries in the zone are ICT integration, medical care, and transportation. It involves software, display, mobile equipment, robots, health care, medicine, medical services, construction machinery, automobile, shipbuilding, aviation and other enterprises.
It is understood that the free trade zone also provides incentives for foreign investment promotion law. It mainly includes three aspects: business support, tax relief and cash support. Among them, technology companies, which are new growth engines, will receive the most incentives, including full corporate income tax support for five years, 50 percent for the next two years, and full exemption of income and property taxes for up to 15 years.
Apart from business convenience, Chinese life in Daegu and North Gyeongsang Province is also convenient. Financial institutions and airlines such as Bank of China, Chinese Industrial and Commercial British Airways, and Air China are located in Daegu and surrounding cities. Chinese enterprises investing in the region can enjoy convenient financing, year-end audit and other services. In addition, there are many Chinese restaurants, Chinatown and overseas Chinese schools nearby.
