Incheon City to Promote Second Phase Designation of Gyeyang Technovalley Industrial Complex... Aiming for AI-Based Advanced Industrial Hub

Linked to Approval of Inner Port Piers 1 and 8 Redevelopment in the First Half of This Year

Incheon City is aiming to designate the second phase of the industrial complex at Gyeyang Technovalley (Gyeyang AX Park) within the first half of this year.

On March 4, the city held the inaugural meeting of the 'Gyeyang Technovalley Investment Attraction Task Force (TF)' and discussed various measures to improve investment conditions for the technovalley, including this objective, according to an announcement on March 5. The meeting, presided over by Shin Jaekyeong, Deputy Mayor for Global Urban Affairs of Incheon City, was attended by officials from the city government, Korea Land & Housing Corporation (LH), and Incheon Housing & City Corporation (iH).

The most urgent issue discussed at the meeting was the designation of the second phase of the industrial complex at Gyeyang Technovalley. The city plans to initiate the designation of the second phase (410,020 square meters) in earnest within the first half of this year, in connection with the approval timing for the redevelopment project of Incheon Inner Port Piers 1 and 8. This will lay the foundation for Gyeyang Technovalley to become an AI-based advanced industrial complex.

Gyeyang AX Park. Courtesy of Incheon City

Gyeyang AX Park, an urban high-tech industrial complex, is planned to cover a total area of 750,000 square meters, combining 350,000 square meters for phase one and 410,000 square meters for phase two; currently, only the phase one area has been designated. The city plans to transfer all industrial zone areas from Inner Port Piers 1 and 8 to Gyeyang District and designate them as the second phase area of the Gyeyang Technovalley industrial complex.

According to the Metropolitan Area Planning Act, to newly designate an industrial zone in Incheon, which is part of the metropolitan area, the total area of industrial zones must not increase; thus, the area from an existing industrial zone must be reassigned. Of the total 429,000 square meters targeted for redevelopment at Inner Port Piers 1 and 8, most—426,000 square meters—was previously designated as industrial area.

The TF meeting also addressed plans to enhance transportation infrastructure around Gyeyang AX Park. The city intends to continue coordinating with relevant ministries to ensure a rational confirmation of the metropolitan railway line connecting the Gyeyang Technovalley urban railway and the Daejang–Hongdae line. Once the route is finalized, accessibility to downtown Seoul and major business districts will be greatly improved, significantly increasing competitiveness in attracting talent and investment.

The city also specified institutional support measures to improve conditions for corporate investment. Plans include relaxing floor area ratio regulations to facilitate the expansion of advanced research and development (R&D) facilities and high-density knowledge industry centers within the limited land area, in consultation with the Ministry of Land, Infrastructure and Transport. Additionally, measures to reduce development costs and rationalize sales prices, providing tangible support for businesses, will also be considered.

Deputy Mayor Shin stated, "This first TF meeting confirmed that Incheon City, LH, and iH have become one team for the success of Gyeyang Technovalley. Going forward, we will monitor progress and coordinate with central government agencies without delay to develop Gyeyang Technovalley into a self-sustaining industrial city representing the northwest region of the metropolitan area."

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