Will the Southern Part of Ganghwado in Incheon Be Designated as an Economic Free Zone? Application Planned for End of This Month

The process of designating the southern part of Ganghwado Island in Incheon as an economic free zone is entering full swing. On June 9, the Incheon Free Economic Zone Authority announced its plan to apply for the new designation of the Ganghwa South Economic Free Zone to the Ministry of Trade, Industry and Energy by the end of this month.

To this end, the authority will collect residents' opinions through a public review of the draft development plan until June 23, and on June 16, it will hold a preliminary consultation with the Ministry of Trade, Industry and Energy to gather final expert feedback. If the procedures proceed as planned, government approval of the development plan and designation of the zone could be completed in the second half of this year.

Phase 1 site of Ganghwa South Economic Free Zone. Incheon Free Economic Zone Authority

The Incheon Free Economic Zone Authority initially envisioned designating the southern area of Ganghwado Island (20.26 square kilometers) as an economic free zone in two phases: Phase 1 (10.03 square kilometers) and Phase 2 (10.23 square kilometers). However, reflecting the opinions of relevant government ministries that the area should be reduced, the authority decided to proceed with Phase 1 by reducing its area to 6.32 square kilometers (covering the Hwado-myeon and Gilsang-myeon regions).

For Phase 1, the authority plans to invest 2.9 trillion won by 2035 to complete infrastructure construction, including a connecting road between Yeongjong and Ganghwa, as well as land supply.

The authority aims to develop this area into a global hub for future industries, with plans to create: ▲ a sustainable city based on advanced industries and AI, ▲ a K-culture city blending history, culture, and nature, and ▲ an eco-friendly, residential-oriented future city.

In the advanced industry sector, the business plan aims to establish an integrated K-bio cluster encompassing red, green, blue, and white bio industries, in line with South Korea's bio transformation strategy.

Red bio (medical and pharmaceuticals) will focus on fostering the biohealth industry by developing functional pharmaceuticals linked to local herbal resources, conducting research on pharmaceutical materials, and building a clinical trial network. In addition to green bio (agricultural life and food), which will include functional foods linked to Ganghwado's abundant agricultural products, flower complexes, and gene-based crop R&D, the plan also covers white bio (energy and environment) and blue bio (marine) industries.

The draft development plan also includes the creation of a manufacturing industry cluster utilizing advanced technologies such as smart factories, robotics, artificial intelligence (AI), and mobility. In addition, the plan aims to generate tourism demand by combining experiential tourism content utilizing natural, historical, and cultural resources with accommodation and leisure facilities.

The southern region of Ganghwado Island, where designation as an economic free zone is being promoted. Incheon Free Economic Zone Authority

Regarding the fact that part of the Phase 1 area is currently designated as an Agricultural Promotion Zone (formerly absolute farmland), the Incheon Free Economic Zone Authority has proposed rural revitalization measures based on the increased efficiency of farmland and the creation of high value-added industries resulting from the economic free zone designation.

Yoon Wonseok, Commissioner of the Incheon Free Economic Zone Authority, stated, "The expansion of the Ganghwa South Economic Free Zone is a key project to secure future growth engines for Incheon," and added, "We will transform Ganghwa South into a hub for advanced industries and global tourism, elevating the border region to the center of national policy."

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