A Study on the Development Plan of Incheon Free Economic Zone, Korea: Based on a Comparison to a Free Economic Zone in Pudong, China
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This study aims to draw lessons from experiences with the development of a free economic zone in Pudong, China, and based on those lessons, to provide implications for the development of Incheon Free Economic Zone (IFEZ), Korea. Major lessons from experiences of Pudong Free Economic Zone (Pudong FEZ) are as follows. Concentration first on the development of infrastructure via domestic sources is needed. Investment incentives equaling those of Pudong FEZ are required and providing a variety of domestic business companies’ information for foreign investors in order to promote joint venture is important. Promoting communication in English is urgent and more foreigner-oriented hospitals and schools are needed. Implications for IFEZ, Korea are a strong support from the central government to develop IFEZ and an effective one governing system with deregulation and one-stop service is important.