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Economic Cooperation Complex

CONCEPT

Special complex designed for international economic cooperation across borders

VISION

Joint development and investment promotion of the complex

3-No International Zone

NO-Inconveniences In Living, Social-Cultural Discrimination, Barriers to Economic Activities

Korea’s First State-Level International Economic Cooperation Model SAEMANGEUM KOREA-CHINA ECONOMIC COOPERATION COMPLEX (SECC)

CONCEPT
  • Open-type special economic zone jointly developed by China and Korea

    Win-win growth strategy to maximize capital, technologies and trade conditions of both countries

  • Business-led development with government support

    Various styles of bilateral cooperation models from government-level cooperation to public- private
      cooperation, trade and investment agencies’ cooperation

significance
  • National Agenda supported by Both Governments

    National Agenda supported by Both Governments

    December 2013 “Korea-China Finance Ministerial Meeting”
    Shared recognition on the necessity for joint-development of Saemangeum Korea-China Economic Cooperation Complex in order to
    create successful bilateral economic cooperation model
    July 2014 “Korea-China Summit”
    Agreed to continue cooperation on Saemangeum Korea- China Economic Cooperation Complex and conduct necessary related research
  • National Agenda supported by Both Governments

    Key Project to Accelerate Saemangeum Development

    Core project to reach Saemangeum’s Vision
    Governmental strategy to develop a hub for global economic cooperation
DEVELOPMENT STRATEGY
Strategic base for Korea-China economic cooperation

Synergistic effect by combining strong points

Strategic base for Korea-China economic cooperation
Saemangeum as Gateway to China

Advance base for global companies who are keen to tap into the huge Northeast Asian market

Saemangeum as Gateway to China
EXPECTED EFFECT
Strategic base for Korea-China economic cooperation
PROGRESS
Step-by-step approach to successful development of international cooperation
PROGRESS June 2013, December 2013, july 2014, january 2015, june 2015, february 2016, march 2016, may 2016 Leaders Shaking Hands at the Korea-China Summit

Pioneer Project for Korea-China Economic Cooperation SAEMANGEUM KOREA-CHINA INDUSTRIAL COOPERATION COMPLEX (SICC)

CONCEPT

Industrial cooperation complex co-developed by two countries through a wide range of cooperation from
land establishment to operation, development, and investment attraction based on Korea-China FTA

Expected Effect
Additional benefits for investors other than existing regulation benefits and incentives
Details to be discussed by vice ministers from both countries
PROGRESS

Designation of 3 Korea-China/China-Korea industrial cooperation complexes and establishment of vice
minister-level cooperation body (October 31st, 2015. Ministry of Trade, Industry and Energy of Korea &
Ministry of Commerce of China) * Korea (1) : Saemangeum China (3) : Yantai in Shandong, Yancheng in Jiangsu, Huizhou in Guangdong

Significance
Pioneer project of Korea-China Economic Cooperation Complex agreed by both countries at the
summit in July 2014
Key strategy to maximize the benefits of Korea-China FTA
LOCATION

Part of Saemangeum Industrial Complex is designated as Korea-China Industrial Cooperation Complex

Saemangeum Industrial Complex Lot 1 & 2 (45㎢) to be completed and ready for development by 2017

* Lot 1(1.9㎢) by 2015, Lot 2(2.6㎢) by 2017 * Range of Cooperation Complex can be enhanced depending on the demands and cooperation
LOCATION

INVESTMENT ATTRACTIVENESS

Immediate Land Sale Available

Lot 1 has been completed in 2015, and investors can move in right after the land sale

Lot 2 which is under development(to be completed by 2017) will be open according to the demands of tenants
Complete Utilities

Basic infrastructure for industries such as electricity, gas & water pipes, communication line, waste system, etc. are provided

Lot 2 which is under development(to be completed by 2017) will be open according to the demands of tenants * Tenant companies such as Toray and Solvay are currently running the plants with basic utilitiess
Tax Exemption through General Bonded Area

When import raw materials and process it, the products exported are tax exempted, and products shipped
within Korea are taxed selectively

Storage period for imported goods unlimited

Skilled Work Force

41 technology research centers and national/government-funded research institutes in Jeollabuk-do (Jeonbuk)

3,000 advanced workers a year from 10 universities and colleges in Jeonbuk, 5,000 skilled workers
from vocational high schools or job training centers in Jeonbuk

Long-term Land Lease for FDI

Land purchased by the government can be leased up to 100 years for foreign investors

INVESTMENT ATTRACTIVENESS