Incheon Cheongna International City 'Video and Cultural Content Complex' Business Operator Recruitment This Month

Panoramic view of Cheongna International City, Incheon [Photo provided by Incheon Free Economic Zone Authority]

[Asia Economy Reporter Park Hyesook] The public recruitment of operators for the video and cultural content complex to be established in Cheongna International City, Seo-gu, Incheon, a free economic zone, will begin this month.

The Incheon Free Economic Zone Authority announced on the 6th that once the Korea Land and Housing Corporation (LH), which owns the project site, determines the land price, the operator recruitment process will start immediately. They are considering a recruitment period of around 90 days.

The Cheongna Video and Cultural Content Complex will be developed on approximately 188,000㎡ in Block 5-4 of Cheongna International City.

Previously, in June 2020, the Incheon Free Economic Zone Authority signed a memorandum of understanding (MOU) for the 'Cheongna Streaming City' project covering 119,000㎡ with companies including Yedam Global, MBC Art, and EBS Media.

However, the Incheon City Investment Promotion Planning Committee reviewed the project and set essential conditions such as establishing a special purpose company (SPC) and securing capital. Since the operator failed to fulfill these conditions and exceeded the one-year deadline, the MOU was automatically terminated in June last year.

Although the Cheongna Streaming City project was canceled, the Incheon Free Economic Zone Authority decided to proceed with the public recruitment process to select an excellent operator while maintaining the basic plan to create a video and cultural content production complex.

In the Incheon Free Economic Zone, related development projects have recently gained momentum as K-dramas continue to succeed in the global market.

The Incheon Free Economic Zone Authority plans to submit the 'Yeongjong International City Development Plan Amendment,' which includes designating the Eulwangsan area of Yeongjongdo as a free economic zone, to the Ministry of Trade, Industry and Energy by the end of this month.

The amendment includes designating approximately 807,000㎡ around Eulwangsan as a free economic zone to create the country's largest video complex, featuring a video production center, advanced shared studios, outdoor filming facilities, an online video service (OTT) exhibition hall, and a Hallyu-themed cultural street.

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