Incheon Industrial Complex Designation Area Expanded from 410,000㎡ to 1,500,000㎡

[Asia Economy Reporter Park Hyesook] Incheon City announced on the 29th that the annual area range that can be designated as an industrial complex has been significantly expanded.

The area of industrial complexes that the city can newly designate in one year was 411,000㎡ until this year, but it will increase to 1,507,000㎡ next year. The expanded area range of 1,096,000㎡ corresponds to the size of 153 soccer fields.

The city requested the Ministry of Land, Infrastructure and Transport to relax the regulatory application standards related to industrial complex designation, thereby expanding the designation range.

Logistics facility sites within the Incheon International Airport Free Economic Zone are part of the development unsold area of a national-led project (airport). The Ministry of Land, Infrastructure and Transport accepted the claim that when calculating the development unsold area of industrial facility sites, these should not be included in the industrial facility site area promoted by Incheon City.

With the increase in the annual area range that can be designated as an industrial complex, Incheon City's industrial complex designation plan for next year includes a total of 619,000㎡, covering existing projects such as Namchon, Gyeyang, and Geomdan2 general industrial complexes, as well as the new project Gyeyang Technovalley Urban High-tech Industrial Complex.

The remaining additional industrial complex designation area alone reaches 888,000㎡.

An official from Incheon City said, "The unreasonable regulations that Incheon City had been facing have been resolved, enabling the promotion of new industrial complex projects," and added, "It is expected to contribute to strengthening regional industrial competitiveness and creating jobs."

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