Along with the name change, the YESFEZ received a performance rating of A-grade from the MOTIE on the 16th. This economic zone always belonged to the lower grade group since the opening, but it has been acknowledged for various efforts such as the completion of infrastructures for Poseung District last year and public offering to reassign the project operator for Hyeondeok District. The new performance rating has proved that the development of the Gyeonggi Free Economic Zone has begun on a full scale. In Pyeongtaek-Poseung (BIX) District, Hyundai Mobis, an anchor tenant which manufactures exclusive parts for electric vehicles, signed an occupancy agreement in August and started the construction of its plant on the 18th. Four more companies have already decided to invest KRW 535 billion in the second half of this year. The district is currently negotiating with 10 companies on investment and forecasts that 560,000 m2 of logistics site will be sold by the end of the year. Hyeongdeok District received letters of intent from private businesses until the 16th in order to select preferred bidders by the end of this year. Greenlight has been lit with 18 private companies, including financial and construction companies, showing interest in the project. New Siheung Baegot District will approve the implementation plan in November to conduct R&D on unmanned autonomous vehicles for land, sea, and air and attract biological research companies. Yang Jin-cheol, the Commissioner of GGFEZ, explained, “We have changed the name to build a global free economic zone that promotes win-win partnership and shared growth with businesses and attains a fair economic ecosystem.”

For more information, please visit GGFEZ's webpage .