Incheon Cheongna International City Video and Cultural Complex Development... Project Operator Recruitment Begins

Location Map of Cheongna International City Video and Cultural Complex [Provided by Incheon Free Economic Zone Authority]

[Asia Economy Reporter Park Hyesook] The Incheon Free Economic Zone Authority announced on the 28th that it will invite bids for a project to create a video and cultural complex in Cheongna International City.

The target site for the bidding project is an investment attraction land of 188,282㎡ located at 1-820 Cheongna-dong, Seo-gu, Incheon.

Eligibility for application is limited to single foreign corporations or foreign corporation consortiums, with a core business operator related to the video industry required to participate. The capital must be at least 5% of the total project cost, and foreign direct investment must account for at least 30% of the capital.

The Incheon Free Economic Zone Authority will hold a briefing session for bidders on the 5th of next month and accept applications for participation until October 28. The preferred negotiation candidate will be selected after evaluating project proposals in November.

The Cheongna Video and Cultural Complex Project aims to attract key strategic industries to the Incheon Free Economic Zone and establish a world-class video industry cluster by combining video production and tourism cultural facilities, amid the rapid growth and global recognition of Korea's video content.

The Incheon Free Economic Zone Authority views Cheongna International City as advantageous for developing a complex that integrates the video industry and tourism culture, as it is close to existing video industry hubs such as Sangam-dong and Mok-dong in Seoul, and Ilsan in Gyeonggi Province, and adjacent to Incheon’s distinctive tourism infrastructure including Incheon Airport, the port area, and Chinatown.

Kim Taekwon, Head of Investment Attraction Business Division at the Incheon Free Economic Zone Authority, said, "This bidding is to select an excellent operator capable of expanding video content production infrastructure and creating unique tourist attractions within the region," adding, "We will do our best to select an outstanding operator to establish globally competitive video content production infrastructure and unique tourist attractions in Cheongna International City."

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