[Opinion] Special Economic Zone

In 1876, Chosun was forced by Japan to conclude the first discriminatory treaty, ‘the Treaty of Kangwha’, and opened two ports including Pusan. The origin of the conclusion of the treaty was the firing by guards of Kangwha fortress to a Japanese warship ‘Unyo’ approaching to Chosun’s adjoining seas. It was quite natural to fire against invading foreign warship, but the next year, Japan demanded to compensate for the firing against ‘Unyo’ and to open Korea ports. the novel, written by Seo Kee Won ‘Kwangwhamoon’, described very well how ‘Unyo’ had seized offensive first with firing at Youngjongdo and tried landing operations.

▷ Eastern Asian countries, which were forced to open by the Great Powers of the imperialism 100 years ago, are competing to open and attract foreign capitals. In the past, opening port meant ‘open’, but economic special zone means ‘open’ today. China has developed impressively since the establishment of 4 economic zones such as Guizhou, Xiamen, Shenzhen, Jhuhai in 1980. Since the establishment, China has kept on economic growth of 9.8% annually, and GNP has grown 20 times for last 20 years. The amount of international trading has grown 15% every year, and the reserve foreign currency 150 billion US dollars. It is the second best after Japan in the world.

▷ Chinese special economic zone was began by Deung Xiaoping. In 1979, as visiting Guangdong in south of China, Deng proposed the establishment of special economic zone. He foresaw that the special economic zone would be the gateway for receiving technology and knowledge, and he supported fully. In 1988, Hainan Economic special zone was added to existing 4 economic special zones and began to make China ‘World Manufacturer’. The success of economic special zone is depends on the attraction of foreign capital.

▷ Yungjongdo invaded by Japanese warship ‘Unyo’ is designated as an special economic zone, and will be developed as a hub of business and logistics of Northeast Asia. Yungjongdo, near Inchon International Airport, has already been planned to be developed as a mini town and destination for logistics and tourists. Youngyudo and Muido will be developed as a comprehensive resort zone. Foreign capital invested in the zone will benefit taxation exemption. The designation of special economic zone will not necessarily guarantee development. Infrastructure such as roads, harbor facilities, etc should be in place. We hope foreign business and ship will swamp into Youngjongdo.

parkyk@donga.com