7 months ago
South Korea's Free Economic Zones See Growth
South Korea's free economic zones, which are special areas where the government makes it easier for companies to operate, have seen a lot of growth.
In 2024, the number of companies in these zones increased by 4.4%, reaching 8,590.
This also led to more jobs, with 254,775 people employed, and more investment, totaling about 5.9 trillion won.
The Incheon zone had the most companies, followed by Busan and Jinhae, and Daegu and North Gyeongsang Province.
Foreign companies also increased, with 690 firms and 3.8 trillion won in investment.
In 2025, South Korea received a record high of US$36.05 billion in foreign investment pledges, and the actual investment was US$17.95 billion.
The government is working to support these zones to keep attracting investment and helping the economy grow.
Number of companies in South Korea's free economic zones increased by 4.4% to 8,590 in 2024.
Employment in these zones rose by 8.8% to 254,775 people.
Investment in the zones climbed by 14.4% to about 5.9 trillion won (US$3.99 billion).
Incheon had the largest share of companies at 44.9%, followed by Busan and Jinhae at 28.4%, and Daegu and North Gyeongsang Province at 12.2%.
Foreign direct investment pledges reached a record high of US$36.05 billion in 2025, with actual investment surging to US$17.95 billion.
- Who
- South Korea's Ministry of Trade, Industry and Resources
- What
- Growth in companies, employment, and investment in free economic zones
- Where
- South Korea's free economic zones, including Incheon, Busan, Jinhae, Daegu, and North Gyeongsang Province
- When
- End of 2024 and 2025
- Why
- Government incentives and eased regulations to attract foreign investment and promote advanced industries
Key facts
- Number of Companies
- 8,590
- Employment
- 254,775
- Investment
- 5.9 trillion won (US$3.99 billion)
- Foreign-Invested Companies
- 690
- Foreign Direct Investment
- 3.8 trillion won
- FDI Pledges (2025)
- US$36.05 billion
- Actual FDI (2025)
- US$17.95 billion
Quotes
A ministry official
An official from the Ministry of Trade, Industry and Resources
“Free economic zones continue to show steady growth, and are strengthening their role as hubs for foreign investment and regional economic development. We will closely identify region- and industry-specific challenges, and actively support corporate activities and investment.”
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