Incheon Free Economic Zone Authority Accelerates Attraction of Advanced Parts and Materials Industry... "Leap to Leading Base of 4th Industrial Revolution"

Promotion of attracting research facilities to Songdo and advanced automation equipment and eco-friendly materials to Cheongna

Aerial view of the Incheon High-Tech Park (IHP) site in Cheongna International City
[Photo by Incheon Free Economic Zone Authority]

[Asia Economy Reporter Park Hyesook] The Incheon Free Economic Zone Authority is actively working to attract the advanced parts and materials industry, a core business of the 4th Industrial Revolution era.

On the 5th, the Incheon Free Economic Zone Authority announced plans to accelerate efforts this year to attract companies and research facilities related to the advanced parts and materials industry.

Following the attraction of the Aekyung Group General Technology Institute (tentative name) to the Songdo International City Advanced Industry Cluster in January, the Incheon Free Economic Zone Authority aims to revitalize the industry-academia-research cluster.

The Aekyung Group General Technology Institute will be constructed on a 28,000㎡ site with a total floor area of 43,000㎡, starting next year and scheduled for completion in the second half of 2022. Approximately 400 researchers will be stationed there to conduct research on basic, fundamental, and future technologies such as advanced materials, eco-friendly technologies, and bio.

The Incheon Free Economic Zone Authority plans to attract global companies in the automation sector to the Incheon High-Tech Park (IHP) Urban Advanced Industrial Complex in Cheongna International City.

By attracting corporate headquarters, manufacturing, and R&D centers, they aim to promote technological independence through domestic development and production of automation equipment and support the competitiveness enhancement of small and medium-sized enterprises in the old city area.

Additionally, the Incheon Free Economic Zone Authority is in the final stages of investment attraction negotiations with materials companies possessing core eco-friendly technologies and expects to sign investment agreements soon.

If these projects are realized, Cheongna International City is expected to grow into a leading region for the domestic eco-friendly materials industry.

To activate investment attraction in the advanced parts and materials industry, the Incheon Free Economic Zone Authority plans to conduct joint marketing (IR) for attracting advanced industries in cooperation with related organizations, including the Korea Land and Housing Corporation (LH).

Kim Sejun, Head of Investment Attraction Business at the Incheon Free Economic Zone Authority, stated, "We will do our best to actively attract the advanced parts and materials industry, which is core to the 4th Industrial Revolution era, so that the Incheon Free Economic Zone can leap forward as a leading base for the 4th industry."

This content was produced with the assistance of AI translation services.