IFEZ Journal

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Marking IFEZ’s 22nd Anniversary: Together with Citizens, 

Toward a Global Hub of Innovation

- Integrating AI with Biotechnology and Digital Content Sectors to Establish IFEZ as a Global AI Center

- IFEZ Development Advisory Committee Held a Plenary Session on IFEZ’s 22nd Anniversary to Discuss Future Growth Driversㅁ

- Second Citizens’ Festival Held at Kyungwonjae Hanok Hotel

- IFEZ 22nd Anniversary Concert & Incheon Citizens’ Day Successfully Concludes

A New Vision for IFEZ: Becoming a Global Hub of Innovation

On October 15, the Incheon Free Economic Zone Authority (IFEZA) held a ceremony at the G-Tower auditorium, commemorating the group’s 22nd anniversary. It presented a new vision of growth to move beyond the “Global Business Frontier” by developing hubs in the K-Bio cluster as well as in tourism, wellness, medical, and healthcare sectors. During the ceremony, Yun Won Sok, Commissioner of IFEZA, stated that “new growth engines are essential to ensure IFEZ’s continued development,” adding that “the authority will expand its boundaries by extending the Free Economic Zone to areas such as southern Ganghwa and transform IFEZ into an advanced, AI data-driven smart city as well as a carbon-neutral city.” Commissioner Yoon emphasized, “The content industry is a borderless, high value-creating sector.” He added, “By leveraging IFEZ’s strategic advantages— its proximity to the airport, affordable energy costs, and outstanding telecommunications infrastructure— we aim to develop an international video production hub in partnership with leading global studios and establish ‘K-CONLAND’ in Yeongjong and Cheongna as a K-content experience and distribution complex, paving the way for IFEZ to become the Hollywood of Asia.” He continued by outlining a plan to “set up an AI inference infrastructure and foster a pool of AI professionals to maximize synergy,” adding that “IFEZ will also assist startups by providing incubation and testing facilities, data infrastructure, and AI service packages to establish itself as a global hub dedicated to AI advancement.” He continued, “The key to IFEZ’s future is human resources—drawing the brightest minds from around the world,” noting that “IFEZ will evolve into a leading global center for innovation by promoting cutting-edge industries such as AI healthcare, new drug discovery, and quantum research, alongside efforts to create an R&D hub.”

Strategies for Free Economic Zone Development Discussed by 

the IFEZ Development Advisory Committee

In the afternoon of the same day, the IFEZ Development Advisory Committee held its plenary session. The meeting was attended by 38 members, including Commissioner Yun Won Sok, Chairperson Lee Haeng-sook (former Vice Mayor for Political Affairs of Incheon), and newly appointed members such as former Deputy Minister of Trade, Industry and Energy Jeong Man-ki, to discuss IFEZ’s future strategies and major interests. During the meeting, presentations and discussions covered major topics such as ▲designating southern Ganghwa as a new IFEZ, ▲the introduction of global video production incentives to support the K-content industry, and ▲the development of strategies for AI-driven bio and content sectors, including the establishment of an AI-focused zone. The session placed particular emphasis on the plan to designate southern Ganghwa as a new IFEZ, which aims to support the zone’s ongoing growth. The designation will also enable the zone to meet upcoming industrial demands and to support the K-content industry through the adoption of global video production incentives. Lee Jae-hong, Executive Director at Kunhwa Co., said, “We plan to transform southern Ganghwa into a cutting-edge AI data-driven smart city as well as a carbon-neutral city, while promoting the growth of the K-Bio cluster and tourism and wellness hubs.” Lee Joo-seok, Professor in the Medical AI Semiconductor Department at Yonsei University, also outlined plans to foster an AI-driven innovation ecosystem. The plans covered the establishment of an AI inference hub, resourcing for talent developing, and resourcing for enhancing AX technology capabilities through Physical AI and digital twin applications to maximize synergy among AI, biotechnology, and content sectors. Commissioner Yoon of IFEZA said, "Extending the Free Economic Zone to southern Ganghwa, pursuing the establishment of K-CONLAND, and establishing an AI-focused district are core initiatives to drive IFEZ’s future growth. We will ensure that the committee’s advice and discussions are actively reflected in upcoming policies.” He also emphasized, “It is time for IFEZ to transform from a gateway city into a global hub for business innovation driven by technology and culture.”

IFEZ's Achievements in 2025 

• Secured the highest (S) rating in the Ministry of Trade, Industry and Energy’s performance evaluation for seven consecutive years since 2018, the only zone to do so among the nine Free Economic Zones

• Recorded USD 503 million in foreign direct investment (FDI) as of August 2025

• On track to reach USD 600 million in FDI by year-end 2025

Second Citizens’ Festival Held at Kyungwonjae Hanok Hotel

The Neighborhood Walk: Kyungwonjae by Walkerhill was held over two days, from October 14 to 15, at Gyeongwonjae by Walkerhill. Held for the second consecutive year, the event commemorated both Incheon Citizens’ Day and the anniversary of the Incheon Free Economic Zone Authority’s establishment.

To bring the newly rebranded Gyeongwonjae by Walkerhill closer to citizens, this year’s festival opened all areas of the hotel to the public. The event offered a series of culinary, cultural, and wellness programs that harmoniously combined tradition with modern elements. It featured five themed zones, including the Youngbin Courtyard, where citizens could actively participate. The main programs included: 

▲ Youth hotelier career experience (in collaboration with the Incheon Office of Education) ▲ Wellness yoga classes ▲ Hanok concert during the autumn evening ▲ Traditional games, wedding experience, and Hanbok dress-up photo zone ▲ Food court prepared by professional chefs.

Even in the rain, many citizens joined the festival, savoring special experiences amid the hanok’s traditional ambiance, while the hanok concert and the food court drew particular praise. The festival, blending tradition and modernity, concluded successfully, providing citizens with lasting memories and heartfelt enjoyment.

IFEZ 22nd Anniversary Concert & Incheon Citizens’ Day 

On the evening of October 15, the “IFEZ 22nd Anniversary Concert & the 61st Incheon Citizens’ Day” was held at the Art Center Incheon Concert Hall, drawing enthusiastic responses from the public. The concert was organized as part of Incheon City’s “1,000-Won Cultural Ticket” initiative, aimed at allowing anyone to enjoy high-quality performances at a low cost. Designed to make the arts more accessible and integrate cultural experiences into daily life, the concert celebrated both IFEZ’s 22nd anniversary and the pride of Incheon residents. Under the baton of Jeong Han-gyeol, deputy conductor of the Incheon Philharmonic Orchestra, violinist Han Su-jin performed Bruch’s Violin Concerto, captivating the audience with delicate yet powerful melodies. Next, the fusion gugak ensemble Gureum showcased a blend of traditional and contemporary performances, including “Beautiful Country” and “Incheon Arirang,” evoking the spirit of Incheon. Mayor Yoo Jeong-bok of Incheon said in his congratulatory address, “It is meaningful to celebrate Citizens’ Day together on stage with Incheon’s musicians.” He added that the city would expand creative policies aimed at enhancing citizens’ well-being, such as the “1,000-Won Cultural Ticket,” “1,000-Won Housing,” and “1,000-Won Delivery” programs.