IFEZ Journal

IFEZ JOURNAL FOCUS

❶ Moving into the Era of IFEZ 2.0 with Innovation and Value Creation

- Fostering bio clusters, smart cities, tourism, etc.

- Balancing the development of Songdo, Cheongna, and Yeongjong “to improve people’s quality of life”

It has been a year since Yun Won Sok took office, with a focus on enhancing IFEZ’s global competitiveness and securing future growth engines. Commissioner Yun has been fostering core industries, such as bio, smart city, K-content, and others, and has been expanding urban infrastructure for balanced development while establishing a foothold for sustainable growth. His next goal is to open the “era of IFEZ 2.0” to create innovation and value beyond mere development, and then to grow IFEZ into a world-class city.

Q. What are your impressions after your first year in office? 

A. I’ve been working tirelessly over the past year to strengthen IFEZ’s global competitiveness. It was an important time for IFEZ to prepare for the next 20 years based on the achievements of the past two decades, and I focused on laying the foundations for sustainable growth.

Q. What is IFEZ’s biggest accomplishment over the past year?

A. IFEZ has achieved the highest rating for six consecutive years in the free economic zone performance evaluation conducted by the Ministry of Trade, Industry, and Energy. 

We attracted USD 655 million, exceeding our Foreign Direct Investment (FDI) target, and brought in key industries like bio·smart manufacturing, aviation, and multimodal logistics. In addition, we enhanced the city’s competitiveness by promoting the international design competition for Songdo District 6-8 (INEX City), starting construction on Cheongna City Tower and Costco’s Cheongna branch, and building Lotte Biologics Songdo Bio Campus.

Q. What are IFEZ’s key policy pillars for 2025?

A. IFEZ aims to create an industrial ecosystem for innovative growth. This comes with attracting investment in key industries, achieving balanced development, and improving people’s quality of life. We will focus on attracting high-tech industries, such as bio, artificial intelligence (AI), K-content, and hydrogen mobility while shifting from development-led growth to innovation-led growth. Furthermore, we will push for the designation of an additional free trade zone in the southern part of Ganghwa and will promote the balanced development of Songdo, Cheongna, and Yeongjong. We will also improve the quality of life by completing the Third Incheon Bridge, creating Songdo Waterfront, and making a cultural street for the youth.

Q. What are IFEZ’s strategies to strengthen the competitiveness of the bio industry?

A. We plan to make Songdo into a “global bio cluster to secure a super gap.” As part of such efforts, we will expand our bio R&D and talent-training programs, and we will strengthen the ecosystem for bio startups by building the K-Bio Lab Hub. We will also expand the National High-Tech Bio Industrial Complex to support the sustainable growth of the bio industry.

Q. Can you tell me about IFEZ’s plans to develop a smart city?

A. IFEZ plans to build AI, big data, and internet of things (IoT)-based smart transportation and crime-prevention systems. For this, incubation programs for startups and innovative companies will be operated. We will also position ourselves as a leader in the sector of smart cities, expanding our collaborations with international smart cities and facilitating global technology exchanges.

Q. What are IFEZ’s plans to foster the K-content and tourism industry?

A. IFEZ plans to establish “K-Con Land” to attract global content companies and create the Cheongna Video and Culture Complex (SOM CITY), a place where K-content can be produced and consumed. We will also foster the K-beauty and MICE (Meetings, Incentive tours, Conventions, and Events & Exhibitions) industries and will increase investment in the entertainment sector in order to transform IFEZ into a global cultural and tourism hub.

Q. Can you tell me about your development plans for Ganghwa and Yeongjong?

A. We are currently working on additionally designating the southern part of Ganghwa as a free economic zone to create a smart farm and flower complex. We will also make Yeongjong into the center of the airport economic zone to strengthen the tourism and logistics industries.

Q. What is the ultimate goal for IFEZ?

A. We believe that IFEZ should be a “destination,” not just a place to pass through. To achieve this, we will make IFEZ into a global business hub through sustainable growth and innovation.

* This article is based on excerpts from the News 1 interview.

❷ The IFEZA Paves the Way for a Future with Media Art ... Debuting on February 20

- IFEZ holds a completion ceremony for construction of a media display board at Incheon Startup Park

- Making a “digital cityscape” with a large electronic display board and a total 40 types of creative content

This media installation, a seven-month-long project, has been released as the first of its kind. On February 20, 2025, IFEZ held a completion ceremony for the construction of a media display board at Incheon Startup Park. Through the project, which was aimed at “Fostering a Media Art Creative City with Citizens,” a large electronic display board measuring 52.8 m in width and 10 m in length was installed on the outer wall of Incheon Startup Park, and a sub-media display board measuring 16.05 ㎡ (3.84 m wide × 4.18 m long) was installed on the outer wall of the vent. This initiative blends digital media and landmark architecture to create a futuristic urban landscape, while also offering an interactive media experience where citizens can actively participate. In addition, a total of 40 types of media content have been produced, including: △ the IFEZA’s vision-themed content, △ videos vividly showcasing the changes of the four seasons and local festivals, △ participatory content that can be accessed via mobile devices, △ AI media art depicting the Incheon Free Economic Zone’s urban landscape in the style of famous painters, and △ a real-time climate clock displaying weather and changes in climate. In particular, the participatory content is designed to be easily accessible via QR codes, allowing visitors to enjoy various programs, such as “Lucky Draw,” “Hidden Picture Game,” and “Pet Customization.” Participants can also immediately view and engage with their results. Starting with the completion ceremony, IFEZ will run a pilot program by the end of February, and it will then roll out a variety of content on a daily and monthly basis starting in March. Meanwhile, Commissioner Yun Won Sok said, “This project serves as a key steppingstone for establishing a media art hub.” He then added, “We will continue to work on designating Incheon as a free outdoor advertising zone and making it a landmark destination for digital media art.”