SEOUL - Chinese capital is being
sought to develop the Gimpo free economic zone, an
official at the South Korean Presidential Transition
Committee said.
The official said the
proposed development plan to turn South Korea into an
economic hub for Northeast Asia is centered on
increased trade with mainland China. He said that
attracting Chinese capital would allow more
participation by foreigners in the free economic area
and should have broad beneficial effect.
The
Gimpo landfill is slated to become a theme park and
residential area for foreigners. At present the
transition team is considering the development of Songdo
area of Incheon as a research and development center for
information technology, while making Yeongjong Island
into a logistics base.
Related to this, the new administration is
expected to change laws governing real-estate ownership by
people from abroad and other regulations on acquiring South
Korean citizenship.
