These days, the term self-sufficient city is frequently used when a new city is developed. There is a strong tendency that the new cities in the Seoul Metropolitan area are dependent On Seoul. Particularly, the first period of the new cities such as B...
These days, the term self-sufficient city is frequently used when a new city is developed. There is a strong tendency that the new cities in the Seoul Metropolitan area are dependent On Seoul. Particularly, the first period of the new cities such as Bundang or Ilsan was not developed as a self-sufficient city because their basis of economic activities was in Seoul.
The Songdo International City, which has been designated as the first Free Economic Zone In 2003, is also aiming for becoming a self sufficient city which attracts foreign investment. The city, there fore, has to promote its global competitiveness by creating the most convenient business environment and living conditions that are requisite for developing the center for residential, business, finance, commercial, tourism and the industrial complex and soon. However, it turns out that the Songdo International City, which is under the 2nd stage of construction, lacks the environment for the education and incentives for the investment, while the deregulation is still insufficient. There fore, this study concludes that this city can develop as a competitive city by increasing employment, production and consumption within its area which are the basic requirements for becoming a self sufficient city. To achieve this goal, the central government subsidy to complete the urban infrastructures is required as a first priority. The improvement of the living conditions for foreigners and promotion of deregulation to attract major domestic companies are also indispensable.