has been established on January, 1970 based on the special law as the first-ever foreign exclusive industrial complex in Korea.
It was aimed to enhance the national and regional economy by attracting the foreign investment, driving exports, creating jobs and offering the technological advances.
It offers a superb industrial infrastructure with a well established networks of shipment, thus, many foreign-invested companies have chosen it as their business destination, MFTZ has the most dense population of foreign-invested companies nationwide.
The office of MFTZ offers you the speedy administrative support in obtaining governmental permits including the registration of foreign investment, permits of factory construction, approvals of import&export affairs, and tax breaks by one-stop service system, It also offers you the public facility and low rental fees, particularly, thanks to a non-tariff area, it is much more competitive for you in exporting compared to other regions.
MFTZ is administered as a Free Export Zone based on the manufacturing and processing industry from year 1970 to the July of year 2000, however, on July 13th, 2000, FEZ (or Free Export Zone) has been reorganized as the Comprehensive Free Trade Zone to guarantee tenant's business activities by providing a various incentives according to the mended laws. Since then, logistics, warehouse, transport&cargo, packing, exhibition, merchandis-ing, data-processing industry etc. not to mention manufacturing are available to be located.
The total area of MFTZ covers 953,576㎡ which is divided into three sections, the first, the second, and the third section, and it is an industrial complex administrated by national government. More than 80 companies are in operation in the MFTZ including 100 percent(%) of foreign-invested companies, joint companies invested by foreign and domestic and companies invested by domestic only. The 98 percent(%) of total productions is for exports. To name a few of these well-known companies worldly who manufacture locally are Sony, Tokyo Korea Silicon, TT Korea from Sanyo Group, Casio, Nokia TMC 100 percent(%) invested by Nokia, which produces cellular phone equipment.
Hitherto, World Economic Processing Zones Association or WEPZA has chosen us as the success model of promoting the foreign investment policy for the developing countries.