Incheon Free Economic Zone Authority Signs Cost-Sharing Agreement with LH and iH

The project to create themed parks in Yeongjong and Cheongna, linked to the Third Interconnection Bridge connecting Yeongjong Island and Cheongna International City in Incheon, is now in full swing.


The Incheon Free Economic Zone Authority announced on the 29th that it had signed an agreement on the 25th with Korea Land and Housing Corporation (LH) and Incheon Urban Development Corporation (iH), outlining cost-sharing details for the creation of neighborhood parks in Yeongjong and Cheongna.


Under the agreement, the Incheon Free Economic Zone Authority will be responsible for project implementation and safety management, as well as the transfer and takeover of facilities after completion. The park construction costs for the Yeongjong area will be split between LH and iH at a ratio of 7 to 3, while LH will fully cover the costs for the green space development in the Cheongna area.


Location map of Cheongna (photo above) and Yeongjong Neighborhood Parks near the Third Interconnection Bridge. Incheon Free Economic Zone Authority

Location map of Cheongna (photo above) and Yeongjong Neighborhood Parks near the Third Interconnection Bridge. Incheon Free Economic Zone Authority

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This project was launched to supplement the reduced tourism resources following safety concerns with the temporary bridge of the Third Interconnection Bridge at the end of last year. The project site is 1.12 times the size of Yeouido Park.


The Incheon Free Economic Zone Authority plans to create parks on a 125,327-square-meter site in Yeongjong Sky City and a 132,601-square-meter site in Cheongna International City, including landscape and buffer green spaces. These parks will be linked to the Third Interconnection Bridge’s tourist attractions, such as the marine observatory, edge walk, and nighttime scenery.


The authority aims to complete administrative procedures, including the establishment of park development plans, and break ground in the first half of 2027, with completion targeted for 2029. After the neighborhood parks are built, various play and experiential facilities will be added to the site.



Yoon Wonseok, Commissioner of the Incheon Free Economic Zone Authority, stated, "Once the Third Interconnection Bridge opens at the end of the year and the Yeongjong and Cheongna neighborhood parks are created, they will become new landmarks for Incheon," adding, "We will develop them into resources that attract global tourists, going beyond mere transportation infrastructure."


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

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