The Incheon Free Economic Zone (IFEZ)'s investment inducement efforts are making slow progress. Currently, on the basis of "arrived" Foreign Direct Investment (FDI) there appears to be just one case, that of Celltrion. IFEZ (www.ifez.go.kr) investment promotion bureau Director General, Dr. Ahn Yong-do, explains that foreign direct investment takes a great deal of time, saying that for a $100-million manufacturing project, 2 years on average are needed to bring it to realization from the identification of the potential investor to the signing of an official investment contract. Specifically, Mr. Ahn points to a lack of administrative support such as an absence of consolidation of the associated legislation, delays in the enactment of new laws and regulations, and poor cooperation by related ministries. Budget allocation has also been stingy, he said. Mr. Ahn said that the Free Economic Zone concept is obscure as to whether it is supposed to be a national or a local autonomous entity. Moreover, national sentiment toward the FEZ concept is also lacking. He further pointed out that the investment attraction effort is stymied in IFEZ and at the same time there is an absence of a development plan. For example, he indicated that the prediction of investment development costs, as well as the time involved to bring an FDI project to completion, is difficult and the competitive advantage of the Free Economic Zones is vague. On the other hand, he notes the competitive advantages such as swift decision making, resolute administrative/financial support, plus comprehensive taxation benefits that only non-OECD countries, i.e., China and Singapore, can provide investors. As a project to improve the foreign investment environment, Mr. Ahn stresses the IFEZ's Master Plan provides for improvement in daily living for foreigners such as every kind of amenity, as well as simplified entry into, and departure from, the country. In reference to the significance of Free Economic Zone system, the Director General stated the system would serve as a test-bed for a new economic model, adding now is the time for Korea to take on a different development paradigm. The Free Economic Zone's basic object is to complement the insufficient domestic investment environment and so induce foreign investment, boost economic growth by allowing resident companies from home and abroad to flourish, and to accomplish the national GDP per capita goal of $20,000 at an early stage. In that regard, Mr. Ahn noted that IFEZ is evolving as a Northeast Asian aviation/logistical hub and business by promoting the Incheon International Airport to one of the highest levels of utilization in the world. He emphasizes that Incheon Free Economic Zone Authority will take a focused approach to FDI inducement such as * Developing unique business models, * Clustering selected industries * Regularly contacting target companies * Goal-based investment promotion activities. 'We have committed ourselves being "customer-oriented with a vengeance,"' Mr. Ahn said.