Hwanghae Free Economic Zone Authority to Change Name to 'Gyeonggi Free Economic Zone Authority'

[Suwon Ilbo = Park No-hun] Gyeonggi Province's Hwanghae Free Economic Zone Authority will change its name to 'Gyeonggi Free Economic Zone Authority' beginning next month.

The province announced on the 27th that the ordinance regarding the name change passed through the Gyeonggi Provincial Assembly on the 18th. Earlier, the province received approval for the name change plan from the Free Economic Zone Committee under the Ministry of Trade, Industry and Energy in June.

This name change is intended to firmly establish the province's identity as Gyeonggi's sole free economic zone, as the zone has expanded to include the Siheung Baegot District as of June, and to enhance brand value.

The Hwanghae Free Economic Zone was originally designated in 2008 in the Pyeongtaek and Dangjin Port areas jointly with South Chungcheong Province, using the shared brand 'Hwanghae.' After the organization was dissolved, it was established as an office of Gyeonggi Province in 2015 and continued using the former name.

Along with the name change, Hwanghae Authority received an A-grade in the performance evaluation announced by the Ministry of Trade, Industry and Energy on the 16th. Previously always receiving lower-tier evaluations since its establishment, the result recognized the authority's efforts in project promotion, including the completion of infrastructure in the Poseung District last year and recruitment for a new operator designation in the Hyunduk District. This demonstrates that development of the Gyeonggi Free Economic Zone is entering full operation.

In the Pyeongtaek Poseung (BIX) District, Hyundai Mobis, an anchor company specializing in electric vehicle components that signed an occupancy contract in August, broke ground on the 18th to proceed with factory construction. In the second half of this year, investments totaling 535 billion won from four companies have already been decided. Currently, discussions are underway with 10 companies, and logistics land of 560,000 square meters (approximately 170,000 pyeong) is expected to complete sales by year-end.

For Hyunduk District, the authority received statements of interest from private operators on the 16th to select a preferred negotiation partner by the end of this year, and 18 private companies including financial and construction firms expressed interest, signaling a green light for business normalization.

The newly designated Siheung Baegot District is expected to receive approval of its implementation plan in November for attracting research and development projects for land, sea, and air autonomous unmanned vehicles and bio research companies.

Director Yang Jin-chul stated, "This name change is not merely changing the name, but rather realizing a fair economic ecosystem through mutual cooperation and co-prosperity with enterprises, and creating a free economic zone befitting Gyeonggi Province's status as a world-class region."