Changwon City Signs Investment MOU with Companies and Institutions for the Digital Masan Free Trade Zone

Kang Kiyoon: "An Important Starting Point
for Creating Spaces and Support Systems Companies Need"

Changwon Special City held a signing ceremony for a memorandum of understanding for investment at the Peace Hall on the first floor of Changjo Hall at Kyungnam University, aiming for the successful advancement of the Digital Masan Free Trade Zone.

The ceremony, which took place on August 28, was co-hosted by Changwon Special City, Gyeongsangnam-do Province, and National Assemblyman Choi Hyung-du, and organized by the Kyungnam University RISE Project Group. A total of 68 companies and research institutions, including Megazone Co., Ltd., NC AI, and Kyungnam University, signed memoranda of understanding as potential future tenants.

Changwon City Special Status, Signing of Memorandum of Understanding for Investment with Companies and Institutions Interested in Moving into the Digital Masan Free Trade Zone. [Photo by Changwon City]

The Digital Masan Free Trade Zone is an advanced urban industrial complex that moves beyond the traditional manufacturing-based industrial structure, focusing on D.N.A. industries—Data, Network, and Artificial Intelligence—and is designed as a cluster for related companies.

By 2029, a total investment of 38.09 billion won will be allocated to construct the Business Occupancy Building and the Support Facilities Building, with full-scale operations to follow. The Business Occupancy Building will be constructed with one basement floor and 11 above-ground floors, covering a total floor area of 64,000 square meters, while the Support Facilities Building will consist of one basement floor and five above-ground floors, with a total area of 14,000 square meters.

The city plans to submit the signed memoranda of understanding, along with information about the prospective tenant companies, to the central government. It will also actively cooperate with the upcoming KDI-led occupancy demand survey (anticipated in October and November) in order to focus administrative resources on passing the preliminary feasibility study.

Kang Kiyoon, Mayor of Changwon Special City, stated, "The investment memorandum of understanding signed today marks an important starting point for actively incorporating company demand and feedback into the project plan, and for establishing the supportive spaces and systems that companies require." He added, "We expect the Digital Masan Free Trade Zone, which will be developed as a new industrial growth hub, to create quality jobs and significantly contribute to building a business-friendly urban environment."

Changwon City hopes that by joining hands with companies and institutions, the Digital Masan Free Trade Zone will ensure smooth budget allocation, increase job opportunities for youth, and serve as a stepping stone for revitalizing the local economy.

This content was produced with the assistance of AI translation services.