Contents - Korea IT Times

FEZ
/ MOFE
New Product
Graduating in 2009
Free economic zones just starting the long haul, say experts
This is the first in a four part series on Free Economic Zones in Korea. In future issues the Korea IT Times will cover all the Free
Economic Zones in the country. Next month is Incheon Free Economic Zone -- Ed.
Mr. Kwon Tae-kyun, the newly inaugurated
deputy minister for the Free Economic Zone
Planning Office of the Ministry of Finance and
Economy (MOFE)
Foreign investors will be able to see
that within the next two or three years
three bustling international cities will
be constructed in Korea's three free economic
zones.
Such confidence was echoed in an exclusive
interview with Mr. Kwon Tae-kyun, the
newly inaugurated deputy minister for the
Free Economic Zone Planning Office of the
Ministry of Finance and Economy (MOFE).
In spite of the recent negative reports
regarding free economic zones, the deputy
minister stressed, "Our free economic zones
will serve as a treasure-house to usher in a
new engine of economic growth through our
on-the-scene supervision and management of
the special zones."
The year 2009, Kwon emphasized, will be a
milestone for investors as they will witness the
rebirth of the free economic zones starting from
Incheon. In that year, many projects in Incheon
will be completed. The Incheon Grand Bridge,
he said, will fascinate visitors to Incheon when
the landmark project is completed in October
2009 along with the 65-floor Asia Trade Tower
to be completed in September 2009. "In addition,"
Kwon said, "the people will be able to
confirm the growth of free economic zones
through Incheon's City Expo to be held for 80
days in Songdo in the fall of 2009."
Desirable regulations
To forge a business-friendly environment,
Kwon said the government is committed to
do its best to lessen or eliminate regulations
and coordinate related ministries to make the
free economic zones more flexible and free.
The deputy minister notes, "A progress has
already been made to ease regulations and
accelerate the development, and administrative
procedures will continuously be simplified
in the months and years to come."
"Only the key concerns related to the environment,
health, and security will remain to
be administered by the authorities, and truly
international cities will be built to be run by
highly efficient administrative systems,"
Kwon points out.
On concerns about the current state of the
free zone project, he said that the current
progress is at its initial stage of development
and will turn into a rapid pace as the project
gains momentum, and the project's future
prospects will be bright when the initial phase
of the project takes a concrete shape and foreign
capital inflow begins in earnest. In such
an environment, he stressed, Korea has to
concentrate its efforts to build necessary infra
in a relatively short period of time.
Proximity to the huge Chinese
market
Korea's three free economic zones in
Incheon, Busan, and Kwangyang are asked to
present their visions to foreign investors more
actively on a regular basis. "Basically, what we
can provide is not the low wages of China or its
huge market, but it is Korea's proximity to
China and excellent living amenities that we are
counting on," the deputy minister explained.
In Korea, he said, intellectual property
rights are well protected and the ingenious
manpower can create good synergy combined
with the world-class IT and bio techs
with a strong manufacturing base where the
world-class airport and harbor are certain to
make a difference.
To do so, Kwon added, the authorities will
closely scrutinize the current system of a
three-year exemption of corporate tax and
bring in a set of more attractive incentives in
coming years. What's more, he asserted that
the reason behind the slow pace of foreign
investment into the three free economic zones
is that foreign investors haven't yet recognized
their development possibilities in the
years to come.
Continuous monitoring of FEZ
projects
Positively assessing that the recently concluded
Korea-US free trade negotiations and
the upcoming 2014 Incheon Asian Games as
good momentums to boost foreign investment,
he added that the government will step
up efforts to loosen the regulations with priorities
given to free economic zones.
Commenting on what visions have been
brought forward to set the zones apart from
similar endeavors overseas, he predicted that
the Incheon Free Economic Zone will be nurtured
into a cosmopolitan city where tourism
and IT and BT industries thrive based on a
good infrastructure befitting a transportation
hub with the world's highest-quality educational
and medical services.
"When Yeosu wins its bid to host the 2012
World Expo," he continued, "Gwangyang
will also draw much interest from foreign
investors and Busan, too, will receive global
attention as it has a strong manufacturing base
linked with the textile industries to its north."
"Metaphorically speaking," he said, "the
current state of the economic zones is like an
elementary student expected to be graduated
from a university in 2015. As this is the case,
the government will continuously monitor
projects in the FEZs and keep a watchful eye
so that the current businesses do not degrade
into short-sighted pop-up businesses."
Motorola, unveiled the RAZR2 this
May in Korea. The RAZR2 is a
whole package of sensibility revolution
with its diverse experience based on the
innovative technology Tandem Display, and
innovating designs such as clean, rigid profiles
with no parting lines and vacuum metal
finishes. Expected to launch in June, Korea
will be the world's first market to receive the
RAZR2.
"With the modern style and powerful performance
of RAZR2, Motorola is once again
redefining the cell phone," said Ed Zander,
Motorola's chairman and chief executive officer.
"Combining groundbreaking new features
and cutting-edge design, the RAZR2 is
capable of giving consumers the ultimate
mobile experience that changes all five senses."
Design Revolution: Slimmer yet
stunning
The RAZR2 is just 11.9mm thick, the
thinnest within the optimum range of not hindering
usability. "Motorola focuses on finding
the ideal design that delivers the best
experience to consumers," said Hwang Sunggul,
Director of Motorola CXD in Seoul.
"RAZR2 also follows after sharper and more
advanced design, but did not insist on driving
to extreme thinness that could impair the convenience
of users."
Also, RAZR2 increases a sleek look by
eliminating parting lines. Along with
stronger durability, RAZR2 literally looks
Emotional,
Technological
Revolution
RAZR2 = Experience X
Revolution
like one solid piece of sculpture near perfection.
In addition, RAZR2's front is finished
through Vacuum Metallization, a coating process
done several times in a vacuum, which
provides a glossy face and profound dark
pearl grey color.
Performance Revolution:
Smarter yet simpler
The most significant functional innovation
that RAZR2 has achieved is its Tandem
Display. The display which was usually
located inside is pulled out externally so that
two main displays are embodied in both sides
of the flip. When shut, existing phones turn
into an accessory or a clock, but RAZR2
plays the role of perfect device by carrying
out more than 10 functions through the
Tandem Display even when it is shut.
Besides, the external display incorporates
Motorola's breakthrough haptics technology
which provides users with vibrating feedback
in response to their finger taps, reducing the
malfunction of touch sensors and providing
physical feedback.
Moreover, RAZR2 is loaded with ultimate
multimedia features such as stereo
Bluetooth wireless technology, VOD, MOD,
MP3, SKT PMP, and high-speed USB 2.0
which only takes 2 to 3 seconds to transfer a
song. It also has many useful cutting-edge
features like phone navigation, a service
which provides directions with built-in highprecision
local maps, enabling users to get
help without the need of any additional kit.
RAZR2 smartly packed all these extraordinary
functions in a simple, stylish manner.
Stronger yet sleeker
For more strength and durability, RAZR2
used stainless steel for internal frame. The
huge exterior lens is made with chemically
hardened glass to be more scratch resistant.
Also, Motorola tested the cast aluminum
hinge in more than 100,000 lab tests to help
ensure that every time a customer flips open
the device, it will work perfectly.
"Korea is the first to be introduced to
RAZR2, Motorola's ambitious launch product
for year 2007, in June," Gill Hyun-chang,
President of Motorola Korea, stated.
"Through the overall innovation of design
and technology, the revolution of the five
senses provided by RAZR2 will satisfy what
consumers have come to expect and was
never fulfilled by any existing products."
2 8 _ June 2007 KOREA IT TIMES
KOREA IT TIMES June 2007 _ 2 9