Performance of Investment Attraction
Conclusion of MOU
Status of Investment Attraction by Sector
By placing Samsung and Dong A Pharmaceutical Co., Ltd., Songdo becomes a hub of biology industry by securing globally-unprecedented huge capacity of advanced developing and manufacturing skills for biomedicine.
- FDI Performance of 14 companies including Samsung BioLogics amounts to US$855.8million, creating 7,443 new jobs
High-tech Industry Sector
Job creation by attracting global enterprises like Amkor Technology and Being Training Center, high-tech manufacturing·research facilities and massive project
- FDI performance of 40 companies including Amkor Technology, ILJIN Semiconductor Co., Ltd. amounts to US$808.2million, creating 17,240 new jobs
Following the opening of Chadwick International School, Cheongna Dalton School and The State University of New York Korea, the first branch university of U.S. university, George Mason University’s Songdo Campus and The University of Utah Asia Campus will be open in 2014, making IFEZ the global education hub.
Logistics Service Sector
By attracting Lotte Mall, E-Land, Hyundai Department and Shinsegae Complex Shopping Mall in Cheongna, the insufficiency of shopping facilities and amenities inside IFEZ is solved. These investments will contribute to invigoration of regional economy by promoting corporate investment and relocation, attracting tourists from home and abroad, creating new jobs within the region.
- FDI performance of 5 companies including Lotte Mall Songdo stands at US$71.7million, creating 14,650 new jobs
Financial Service Sector
This is a core anchor business for invigorating Cheongna International City, resulting in practical invigoration of regional economy thanks to relocation of headquarter of Hana Financial Group Inc.
- Period : ’12~’16, Size : 248,158㎡, Budget: about KRW7,300 (FDI US$50million), 7 thousand jobs
- Conclusion of Promotion Agreement for Hana Financial Town Project (Apr. 1, ’13)
The headquarter of Kolong Group¹⁾affiliations and Daewoo Engineering²⁾ relocated in Songdo, thus contributing to economic invigoration with job creation
- 1) Kolong Global, Kolong Water & Energy : Move-in Time (Jul. 1, ‘13), Number of Employee (1,000 employees)
- 2) Daewoo Engineering : Agreement Conclusion (end of July, ‘13), Number of Employee (1,500 employees)
Placement of International Organization
Attracted the secretariat of Green Climate Fund (GCF) ¹⁾ , the so-called World Bank in environment sector, and Association of World Election Bodies²⁾ which will be established in this October with election bodies of about 150 nations around the world.
- 1) By taking this wonderful opportunity, it is expected to raise Korea’s reputation in the international community and contribute to development of fiscal and financial industries (Estimated direct effect is KRW380billion per year. Accommodating maximum 500 workers)
- 2) Direct economic effect by stationing 50 employees at an early stage & Contribution to invigoration of MICE industry with A-WEB regular general meeting, etc. (Expected production of KRW60billion per year & expected effect of employment induction, accommodating maximum 300 workers)
Export of City Model
The first successful case of IFEZ development model export is Ecuador Yachay New City where the consortium of IFEZ and domestic corporation participates in. It will be developed as an economic hub of South America, equipping with a university research center interfacing with the specialized industries like global business and ICT.
- In Apr. 11, ’12, we concluded a contract, equivalent to USD9.71million.
Regulation & System Enhancement
Total 18 cases of deregulation and system improvement were completed, including enhancing immigration procedure of foreign investor, excluding application of parcel price cap within free economic zone, authorizing whole right of development and implement plans, implementing real estate immigration system and extending subject of tax incentive, etc.