Incheon Songdo Waterfront 1-2 District Passes Local Fiscal Investment Review... Completion in 2023

Construction site of Songdo Waterfront Phase 1, Section 1 [Photo by Incheon Free Economic Zone Authority]

[Asia Economy Reporter Park Hyesook] Construction of Section 2 of Phase 1 of the waterfront project, which connects the lakes and waterways of Songdo International City in Incheon in a 'ㅁ' shape, is expected to begin in 2022.

The Incheon Free Economic Zone Authority announced on the 24th that the Songdo International City Waterfront Phase 1-2 Section (9.4 km) development project has passed the local fiscal investment review.

Accordingly, the detailed design for Section 1-2 will be completed by the end of next year, with construction starting in 2022 and completion planned for 2023.

Earlier, in April last year, the Incheon Free Economic Zone Authority began construction of Section 1-1 (1 km) as the first phase of the waterfront development project, which is progressing smoothly.

The Phase 2 waterfront project (5.7 km) is scheduled to begin construction in 2024 and be completed in 2027 after being included in the government's basic reclamation plan for public waters, feasibility studies, and local fiscal investment reviews.

Lee Wonjae, head of the Incheon Free Economic Zone Authority, stated, "During the detailed design process of Section 1-2, we will carry out sufficient consultations with related experts and local residents to ensure the waterfront project proceeds without any setbacks."

The Songdo waterfront project aims to improve the water quality of the waterways and lakes surrounding Songdo, including the northern waterway of Songdo International City where fish currently cannot survive and which suffers from severe odors in summer, as well as to prevent flooding.

The Incheon Free Economic Zone Authority envisions creating a beautiful and romantic "city of water" like Venice in Italy or Amsterdam in the Netherlands.

The waterfront will span a total length of 16 km with a width of 40 to 300 meters, with a total project cost of 621.5 billion KRW.

The Incheon Free Economic Zone Authority plans to develop the Songdo waterfront in a 'ㄷ' shape, and once the remaining Songdo District 11 waterway (4.98 km) is separately constructed by 2023, the waterways will be connected to complete the 'ㅁ' shape.

Upon completion, Songdo International City will feature an artificial beach where visitors can enjoy the sea atmosphere, a coastal promenade to admire the sunset over the West Sea, marina facilities for yachting to islands in front of Incheon, and a seawater circulation system to maintain water quality in the artificial waterways.

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