According to the news agency, the authorities want to expand the size of the Incheon International Airport free trade zone by around 10 percent to 3.3 square kilometres (about 1.3 square miles). Another zone, located in the southern port city of Busan, is to be expanded by 30 percent to 12 square kilometres (about 4.6 square miles).
South Korea to Expand Free Trade Zones in Bid to Boost Slowing Exports Amid COVID-19 - Reports
© AP Photo / Ahn Young-joon
The news agency also added that the decision will enable the Asian country to raise a combined investment of 1 trillion won ($808 million) from 50 companies from different industries and create around 22,000 new jobs.
South Korean exports dropped by 0.2 percent in March compared to the same period the previous year due to the pandemic.