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investment enviroment
pursued projects
investment enviroment
 
 
 
 
 
 
 

 
 
 
Valid Period: Until December 31, 2020
Main Legal Points
The government has established the East Coast Development Plan through its task force team, which the President approves. High tech new industries are promoted and \supported, while various development project procedures are simplified and eased
Special regulations to promote local development, industries and tourism
⇒ Designated as high-tech science technology complex, marine tourism culture industry and investment promotion district
⇒ Reduced lease and interest for companies purchasing land in the investment promotion district
⇒ Government support for SOC and local development projects
Improved competitiveness through one-stop service for various development projects
⇒ Reduced time and expense by handling 72 licenses and authorizations for 36 laws including construction laws
 
 
East-West Expressway
Route: Seoul ~ Chuncheon ~ Yangyang
Distance: 153km (Within province: 112.6km)
Project Term: March ‘04 ~ December ’10 (7 years)
Project Cost: 5.2038 trillion won (Seoul ⇔ Chuncheon: 61.4km private funds
 
Chuncheon ⇔ Yangyang 91.6km, National funds 2.8548 trillion won)
Expected Effects: 2 hour distance from Seoul to Yangyang
⇒ Time and spatial concept to be reduced by 1/2
 
East Coast Expressway
Route: Haeundae, Busan ~ East Coast ~ Yangyang ~ Sokcho
※ Connected with Yeongdong Expressway from Seoul bound south
Total Project Cost: 1.1652 trillion won
Open Section: East Sea ~ Gangneung (56.1km) ~ Jigyeong, Hyeonnam (16.3km)
Project Section: Jigyeong, Hyeonnam ~ Sokcho
※ Construction: Jigyeong, Hyeonnam ~ Weol-ri, Yangyang-eub
⇒ December 30, ‘04. ~ 2009 (scheduled completion)
 
Asian Highway (National Rt. 7) 
Route: Busan ~ East Coast ~ Yangyang ~ Weonsan ~ Vladivostok
~ Harbin ~ Irkutsk ~ Moscow ~ Belarus
Distance: 140,000km (32 countries)
Project Period: 2010 ~ 2015
※ Asian Highway: It was first suggested in 1959 and has been in effect since 1992. This road will start from Japan, pass through Korea, Russia and then to Europe for automobile travel
 
TSR Connection with Trans-Korea Railway (TKR)
TKR Route: Busan ~ Gangneung ~ Yangyang ~ Weonsan ~ Najin
※ Rails for Pohang ~ Samcheongak are being planned and once the Gangneung ~ Yangyang ~ Goseong sections are opened, it will be complete.
Once the TKR is complete, we will be able to use railways to Europe by connecting with the TSR due to our railway agreement with Russia.