Abstraksi
Special Economic Zones (SEZ) have been known to play a crucial role in economic development and global economic connections (Wyman, 2018). However, not all Special Economic Zones (SEZs) have been successful at achieving the objective of economic development and global interconnection. In the global race of attracting international investment, SEZs must be designed with the right strategies to be agile and flexible to respond to competition and constant changes (Wyman, 2018). Learning from the Incheon Free Economic Zone and the Shenzhen Special Economic Zone because they are the most busy and advanced SEZ cases in Asia provides insight on what is an ideal type of zone. Using in-depth interviews triangulated with a literature study, this paper found several important comparisons between Incheon and Shenzhen regarding 1) political economy landscape, 2) industrial policy, 3) investment services, 4) global value chain, 5) green industrialization, and 6) growth of the SEZs. Results of this study suggests how to elevate less-developed SEZs in Asia to catch up with Incheon and Shenzhen as third-stage zones.