Promotion of Designating Incheon Ganghwa South End and Sudokwon Landfill Area as Economic Free Zones

by Park Haesook

Published 10 May.2023 16:10(KST)

A service project to designate the northern part of Incheon as an economic free zone is being promoted.

The Incheon Free Economic Zone Authority announced on the 10th that it will start the "Economic Free Zone Expansion (Northern Area) Designation and Development Plan Establishment Service" in July, covering the southern part of Ganghwa (18.92㎢) and the Metropolitan Landfill Site (16.85㎢).

The company selected through a bidding announcement plans to establish a development plan suitable for the regional conditions and review plans for infrastructure and investment land acquisition to attract companies.

The Incheon Free Economic Zone Authority aims to expand the economic free zone designation by 2025.

The push to designate the economic free zone is a measure to support the "New Hong Kong City Project," a core pledge of Incheon City's 8th term of elected government.

This project aims to develop Incheon into a global hub city on par with Hong Kong and Singapore. It is being promoted in a direction to foster advanced industries such as bio, semiconductors, mobility, and aircraft maintenance (MRO) based on the international cities of Songdo, Cheongna, Yeongjong, as well as Ganghwa, Ongjin County, and Incheon Inner Port.

Kim Jin-yong, head of the Incheon Free Economic Zone Authority, said, "Continuous development of the economic free zone and balanced development with the Ganghwa area and the old downtown are urgent," adding, "We will create development momentum through the expansion of the economic free zone and actively promote investment attraction from domestic and foreign companies."

Currently, the size of Incheon's Songdo, Yeongjong, and Cheongna economic free zones totals 122.4㎢, accounting for 45% of the country's total 275㎢.