IFEZ Journal

Dear Readers of IFEZ Journal,

My name is Yun Won-Sok, the recently inaugurated 8th commissioner of IFEZ.

Incheon Free Economic Zone (IFEZ) was designated as Korea’s first free economic zone in 2003. Since then, and over the past 20 years, IFEZ has transformed barren mud flats into cities boasting top-level infrastructure, including Songdo, Yeongjong, and Cheongna. This is an achievement no one could have imagined!

Today, IFEZ is at a point of transforming its new roles and functions as a core driving force to achieve the goal of ‘Incheon, a world-class city with happy citizens’ which represents the vision of the 8th popularly elected Incheon City. Thus, we will take on the challenge of realizing a new dream of becoming a “top-tier economic agency” based on the global network and field experiences we have built at IFEZ, which is now at a new turning point and stage of testing. And we would like to invite you to join us in this challenge.

Dear Readers,

In order to achieve our declared dreams and goals, we will strengthen IFEZ’s three management policies that emphasize customers, performance, and people, further increasing our potential to meet the needs of the new global era.

First, we are working for customer-centered management. To this end, we must achieve balance and harmony by shifting the current focus of customer management for development to one centered on attracting investment. More specifically, we will strengthen our one-stop customer-support platform to find investment-target customers, attract investments from them, and take responsibility for their settlement and growth.

Another principle is performance-based management. We will create an organizational culture that achieves results by carrying out self-directed work with conviction, develop balanced and future-oriented performance indicators, and strengthen feedback based on fair and objective evaluation.

Finally, we will pursue people-centered management. Our communicative and trusting leadership, which prioritizes talent and empowers our people, will create an organizational culture oriented toward Quality of Life.

First, we will focus on attracting investment in the four core strategic industries and high-tech industries and to maximize performance through innovation in investment-attraction work.

Second, we will expand IFEZ to lay the foundation for sustainable growth and the success of New Hong Kong City and the Jemulpo Port Renaissance, core projects of the 8th popular election.

Third, we will create a world-class global startup ecosystem for future growth engines and sustainable growth. IFEZ will be reborn as a business-friendly global innovation hub where all companies can realize their dreams.

Fourth, IFEZ will grow into a global future city where people worldwide will want to invest and settle down.

Fifth, we will lead change and innovation through ESG management and a customer-centered, performance-centered, and people-centered organizational culture.

I believe this is a pivotal moment for us to build on the achievements of the past 20 years and to join forces with you, our readers, as we embark on the next 20. We will do our utmost to make our dreams a reality.

Dear Readers of IFEZ Journal,

The IFEZ that we all create together will shine brightly with pride. IFEZ will also achieve its dream of growing into a global top 10 city, on par with Hong Kong and Singapore.

Please look forward as we enter this new future. with Incheon and IFEZ further opening up with vigor.

Thank you!

March 2024

IFEZ Commissioner  Yun Won-Sok