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Gwangju City and Jeonnam became regulation free zones

광주시, 전남도, '규제자유특구' 됐다.


The City of Gwangju and Jeonnam's new industrial complexes are now designated as ‘regulation free zones’ for their further development it was announced yesterday.

 

Gwangju City submitted the proposal to the Regulation Free Zone Summit, which is moderated by the Prime Minister Lee Nak Yeon (이낙연), and it passed the examination yesterday.

 

According to the summit result, they admitted that the City is productively contributing to future industrial businesses such as AI, Bigdata, telecommunications and more and it will be the best condition for the new projects to proceed.

 

Meanwhile, Jeonnam’s Naju City was also designated as a free zone from the new energy industrial regulation. It will continue until 2020 to become a Global Energy Industry point.

 

The Energy Valley Project will produce positive effects with some 1 trillion won worth of economic improvement.

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