The government will begin to prepare a comprehensive development plan for urban convergence special zones. To achieve regional balanced development, the government plans to concentrate support projects around local metropolitan areas to lead corporate investment and job creation for youth.
On the afternoon of the 22nd, the Ministry of Land, Infrastructure and Transport will hold a kickoff meeting for the study service on the establishment of a comprehensive development plan for urban convergence special zones at the Korea Research Institute for Human Settlements. The study for the establishment of the comprehensive development plan will be conducted by the Korea Research Institute for Human Settlements until September next year.
The comprehensive development plan for urban convergence special zones, the first of its kind, is expected to include systematic development measures. Through this, the plan aims to create a top-level corporate investment environment in urban convergence special zones and support corporations and their employees.
Urban convergence special zones are a metropolitan growth hub project that creates innovative spaces for industry, housing, and culture in local metropolitan city centers while concentrating multi-ministerial corporate support projects to drive corporate investment and job creation for youth. Last November, the Ministry of Land, Infrastructure and Transport designated urban convergence special zones in five metropolitan cities: Busan, Daegu, Gwangju, Daejeon, and Ulsan, and approved the basic plan for these zones.
In addition, in February, a business agreement was signed among seven ministries, including the Local Era Committee, the Ministry of Land, Infrastructure and Transport, and the Ministry of Trade, Industry and Energy, to create and activate local growth hubs and concentrate related support projects in order to attract youth and corporations to local areas.
To further specify the government support and various benefits necessary for the early activation of urban convergence special zone projects, discussions are ongoing with the National Assembly, local governments, and the Local Era Committee.
In particular, the comprehensive development plan will also include the basic objectives defined in the 'Urban Convergence Special Zones Act,' mid- to long-term development strategies, matters related to the creation and cultivation of special zones, operational status, and the dissemination of results.
Additionally, it will include: ▲ multi-ministerial support measures linked to opportunity development special zones ▲ strategies for attracting leading corporations ▲ methods for industrial network consolidation ▲ detailed support measures for corporations and employees, such as tax reductions and housing support ▲ the necessity for government financial support and detailed criteria ▲ the establishment of a governance system involving the government, local governments, and the private sector.
Moreover, it will prepare establishment criteria for execution plans that align with the objectives of the special zones, and streamline various impact assessment review processes and identify institutional improvement matters.
Kim Ji-yeon, director of land policy at the Ministry of Land, Infrastructure and Transport, noted, "Through the comprehensive development plan for urban convergence special zones being promoted with the goal of establishment by the end of the year, we expect to present mid- to long-term development strategies for the next 10 years and will actively work to ensure that urban convergence special zones can be developed as growth hubs that open a competitive local era."