With the designation of the Oseong Industrial Complex (located in Oseong-myeon and Cheongbuk-myeon, Pyeongtaek City, Gyeonggi Province) as an international investment zone by the Foreign Investment Review Board of the Ministry of Knowledge Economy, Gyeonggi Province is expected to attract more foreign investment.

The Oseong International Investment Zone, which will be established on a site of 362,331 square meters, is located in a region that is in significant demand among international investors due to its geographic advantages and excellent infrastructure. The zone is 1 kilometer away from the West Coast Highway Cheongbuk IC, and 10 kilometers away from Pyeongtaek Port. 

Plots amounting to 874,000 square meters in the Hyeongok International Investment Complex, which has been developed on a total site area of 914,000 square meters adjacent to Oseong Investment Zone, have already been rented out. The designation of this new zone is expected to give international investors further investment opportunities along with the other international investment zones in Hwaseong and Paju, as well as the remaining area of Hyeonngok, which accounts for just 4 percent (41000 square meters).

A spokesperson for Gyeonggi Province reports that the province is already negotiating investment locations with global companies based in the US and Europe and engaged in the solar and LED industries, as well as with Japanese IT companies. The spokesperson added that the province plans to emphasize the attraction of cutting-edge companies in the fields of new energy and the environment, including photovoltaic cells and hydrogen fuel cells, as well as those in the IT industry, with the goal of developing the zone into a center of green growth.

Companies investing in the Oseong Investment Zone can lease land for a maximum of 50 years at low rental rates that amount to 1 percent of annual development costs. In addition, investors will be able to benefit from a variety of supports such as tax reduction incentives and subsidies for recruitment and job training; such measures that are expected to attract more investors.

Oseong Complex is expected to attract investment amounting to more than USD 300 million and to lead to the employment of more than 2000 workers.  

Eighty-four global companies (including companies scheduled for occupancy) have been operating in 8 zones of the international investment complex, boosting the local economy and making Korea more internationally competitive through USD 1.25 billion in investment and the creation of new jobs for 8,323 people.