Re-tendering for Incheon Cheongna Medical Complex Town Project Operator... Priority Negotiation Candidate to be Selected in July

Location map of Cheongna Medical Complex Town, Incheon [Provided by Incheon Free Economic Zone Authority]

[Asia Economy Reporter Park Hyesook] The Incheon Free Economic Zone Authority is re-announcing a bid for a developer to create a medical complex town with a general hospital of over 500 beds in Cheongna International City.

This project was previously canceled last March as no companies submitted proposals in the first call for bids.

The Incheon Free Economic Zone Authority plans to accept proposals until May 28 for this re-bid, conduct evaluations according to the bidding guidelines, and select a preferred negotiation partner by July.

The Cheongna Medical Complex Town will be developed on a 261,635㎡ site in 601, 1 Cheongna-dong, Seo-gu, Incheon, including a general hospital with over 500 beds, medical bio-related industry-academia-research facilities, office spaces, and retail facilities.

To reduce the financial burden of establishing medical facilities, the Incheon Free Economic Zone Authority will supply land at approximately 2.5 million KRW per 3.3㎡ and mandate that the resulting development profits be reinvested into industrial facility sites and general hospitals.

Additionally, 3,000 officetel units for employees of the medical complex town are permitted, and lifestyle accommodation facilities combining hotels and hospitals called "Meditel" with 700 units are allowed; however, individual unit sales of these accommodations will not be permitted.

Considering the large scale of this project and the longer time required for architectural design of general hospitals compared to other facilities, some conditions have been adjusted to allow flexibility in the project schedule.

An official from the Incheon Free Economic Zone Authority stated, "This year, we will do our best to ensure the project proceeds normally by selecting a preferred negotiation partner for the Cheongna Medical Complex Town and signing a business agreement."

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