Free Economic Zone Authorities

General Overview

  • LocationJinhae-gu, Changwon-si, Gyeongnam; Gangseo-gu, Busan
  • Project Scale13 districts, 19.6㎢ (594 million pyeong) [Development Districts under the Free Economic Zone Act]※ Additional Development by Other Laws: 5.3㎢ (New Port 3.0, Macheon 0.6, Yongwon CC 1.7)
  • Project Cost8.1599 trillion KRW
  • Project Duration 2000 ~ 2027년

Overview by District

Category Development
Phase		 Development Area
(thousand m²)		 Project Cost
(billion KRW)		 Project Duration Project Executor Introduced
Function		 Progress Rate Remarks
Total 19,559
(23,710)		 81,573
Completed(6) 1 New Port Hinterland (North) 1-1 2,442
(3,085)		 5,476 '00~'12 Ministry of Oceans and Fisheries, Busan New Port Co., Busan Urban Corporation, Busan Port Authority International Business, Logistics Completion('12.12) Gyeongnam/Busan
2 Namyang District 1-2 293 575 '03~'09 LH Advanced Production Completion('09.11) Gyeongnam
3 Nammun District 1-2 1,086 3,478 '06~'14 Gyeongnam Development Corporation High-tech Industry, Residential Completion('14.08) Gyeongnam
4 Yongwon Leisure District 1-1 1,691 80 '88~'91 Yongwon Development Co., Ltd. Leisure, Recreation Completion(‘91.11) Gyeongnam
5 Macheon Industrial District 1-1 611 794 '88~'01 Macheon Foundry Complex Advanced Production Completion(‘01. 1) Gyeongnam
6 Dudong District 1-2 1,677 4,238 '04~'19 Busan-Jinhae Free Economic Zone Authority Logistics, Residential Completion('19.07) Gyeongnam
In Progress(6) 7 Cultural District 1-2 165 265 '07~'15 -
(Project Executor Cancelled on April 2020)		 Restoration of Kiln Sites Phase 1 Project Completion Gyeongnam
8 Bobe Complex District 1-2 802 2,871 '03~'27 Bobe Industrial Co., Ltd. Research, Industry Progress 27% Gyeongnam
9 Ungdong District (1) 1-2 2,258 3,461 '03~'22 Former Changwon City Corporation (Project Executor Cancelled on March 2023) Leisure, Recreation Progress 64% Gyeongnam
10 Ungdong District (2) 1-2
2		 4,104 8,487 '03~'27 Ministry of Oceans and Fisheries, Busan Port Authority, Busan New Port Ungdong Development Co., Ltd. Logistics, Distribution Progress 74% Gyeongnam
11 New Port District 2 3,015
(6,483)		 45,735 '03~'27 BPA and three other companies Logistics, Distribution Progress 94% Gyeongnam/Busan
12 Wasung District 1-2 790 3,251 '09~'27 Gyeongnam New Port Co., Ltd Industry, Logistics Progress 20% Gyeongnam
Not Started (1) 13 Ungcheon-Namsan District 1-2 665 2,862 '07~'23 Former ULC Co., Ltd. (Project Executor Cancelled on January 2023) Residential, Commercial Revocation of Project Executor Designation('23.1.19.) Gyeongnam