IFEZ Journal

IFEZ Activities Leading Innovation-Driven Growth

IFEZ is striving to become a top-tier global city through diverse efforts to attract investment. Below are the main activities through which IFEZ continues to drive innovation and growth.

1. Infrastructure Development in Songdo District 11 Gains Momentum, Laying the Foundation for Advanced and Bio Industry Expansion

The Incheon Free Economic Zone Authority (IFEZA) has initiated the development of essential infrastructure—including roads, water supply, and sewage systems—in District 11 to establish the groundwork for the expansion of advanced and bio industries. The project will be carried out in phases, segmented into District 11-1 (4.32 million m²) and District 11-2 (1.53 million m²). District 11-1 is picking up momentum with the aim of completion by December of this year, whereas District 11-2 is scheduled for completion by 2031. As a prerequisite for corporate relocation and industrial demand, infrastructure development is anticipated to play a vital role in accommodating future expansion. IFEZA intends to promote Songdo District 11 as a principal industrial hub within IFEZ by developing infrastructure that addresses not only logistics networks but also the residential needs of workers and residents.

2. Art Center Incheon Initiates the Second Cohort of the “Music Talent Academy,” Fostering Classical Talent in Full Swing

IFEZA has officially launched the second cohort of the “Music Gifted Academy,” a flagship educational program of Art Center Incheon, to further develop global classical music talent. Following the first pilot cohort last year—which produced prizewinners in national competitions—the program has significantly expanded its size and curriculum. Students chosen through an open audition in February are currently undergoing advanced training in piano, violin, cello, and clarinet. The curriculum combines one-on-one major lessons, music theory, and stage rehearsals. A newly introduced “Progress Concert” program further emphasizes hands-on performance experience.

3. Promoting the Establishment of a Cultural, Tourism, and Content Complex by Signing an MOU for Cheongna I-CON City Development

IFEZA has announced the signing of a Memorandum of Understanding (MOU) with The Kessler Collection, a U.S.-based hospitality company, and the Korea Land & Housing Corporation (LH) to facilitate the development of “Cheongna I-CON City (Incheon Contents City)” in Cheongna International City. As part of Incheon’s K-Con Land initiative, the project will convert approximately 260,000 m² of land designated for investment attraction into a large-scale complex that includes a boutique hotel, K-Content Tower, VFX studio, and arena. The involvement of The Kessler Collection—renowned for transforming a decommissioned power plant into a cultural space in the United States—alongside leading domestic strategic investors, has increased expectations. This agreement represents a significant milestone in public-private cooperation to boost Cheongna’s urban brand value and attract international visitors.

4. K-NIBRT Opens in Songdo, Advancing as a Global Bio Workforce Training Hub

The Korea National Institute for Bioprocessing Research and Training (K-NIBRT) has officially commenced operations in Songdo, signifying a major advancement in Korea’s development of the bioprocessing workforce. Managed by Yonsei University, the center is integrated into a national initiative that adopts NIBRT Ireland’s bioprocess training program and boasts a state-of-the-art GMP-standard training facility spanning 6,600 m². Recently, it acquired the “Audit Certification” from NIBRT headquarters in Ireland, establishing its global credibility in training standards. The center plans to train 2,000 professionals each year. Starting in 2026, it will improve its curriculum by introducing new programs in Regulatory Affairs (RA) and Quality Assurance/Quality Control (QA/QC) to meet changing global regulatory standards. With the bio-health workforce shortage climbing to 3.5%—the highest among the top ten manufacturing sectors—the launch of K-NIBRT is expected to play a key role in completing the Songdo Bio Cluster as a major global bio hub.

5. Expanding Cultural and Tourism Hubs through Distinctive Park Development

IFEZA is boosting urban competitiveness by transforming key areas in Songdo, Yeongjong, and Cheongna into distinctive parks and cultural spaces. The initiative aims to enhance living conditions and lay the groundwork for developing the city into a long-stay tourism destination. In Songdo, Landmark City Neighborhood Park No. 13 (95,000 m²) and Waterfront Park No. 3 (109,000 m²) are scheduled for completion in 2026 and 2028, respectively. A new mixed-use cultural complex with waterfront restaurants and cafés will increase the area’s appeal further. Moonlight Park will include an RC sports stadium and a 36-hole park golf course, significantly expanding leisure options. Yeongjong Seaside Park will feature experiential attractions such as Sky Bicycle facilities, while Cheongna Canalway will be developed into a waterside cultural space with a water playground and busking zone. IFEZA expressed its commitment to transforming Incheon into an internationally competitive green city through regionally distinctive parks.

6. Songdo Waterfront Phase 1-2 on Track, Completing the “City of Water” Vision by 2030

The “Songdo Waterfront” project—aimed at establishing a connection within Songdo International City through a square-shaped waterway—is gaining momentum as Phase 1-2 construction proceeds. The 1.03 km segment, linking District 6 Lake and Aam Lake, is anticipated to be completed by early next year.With a total project budget of KRW 690 billion, this phase involves installing one floodgate, two bridges, two pedestrian bridges, and waterfront roads and canoe docks. A navigable canal for yachts and water taxis will further boost tourism. When fully completed in 2030, Songdo is expected to become a world-class waterfront city comparable to Venice, Italy.

7. Three Incheon Startups Advance to Draper Global Competition Finals

Three startups advanced to the Silicon Valley finals after being selected in the Korean preliminary round of the Draper Global Competition held in Incheon. This was Korea’s first official “Meet the Drapers” preliminary round, supported by Incheon Metropolitan City and IFEZA, and hosted at Incheon Startup Park. A total of 20 startups participated, focusing on bio, beauty tech, and AI-based consumer goods. QuadB Co., Ltd. (beauty tech), Stemden Co., Ltd. (bio), and Medicell Healthcare Co., Ltd. (bio) advanced to the finals, where they will present to global investors in Silicon Valley. IFEZA plans to further build international connections and offer customized on-site support to help local startups grow beyond Incheon and into the global market.

8. Construction of Asan Medical Center Cheongna Begins, Promoting a Future-Oriented Medical Complex City Development in Earnest

Cheongna International City is on its way to becoming Korea’s largest medical complex town. Incheon held the groundbreaking ceremony for the Cheongna Medical Complex Town, officially launching the development of a forward-looking medical facility centered around Asan Medical Center Cheongna. The hospital with 800 beds will be built on a 97,459 m² site and is scheduled for completion in 2029. It will operate as a specialized tertiary care center with dedicated units for cancer, cardiovascular, and digestive diseases. Research institutes affiliated with KAIST and Massachusetts General Hospital (Harvard Medical School) will also be housed within the complex, uniting research and clinical practice into a global medical hub. The Cheongna Medical Complex Town is expected to serve as a future growth engine and international medical hub for Incheon.

9. Expansion of Songdo Public Sewage Treatment Facility (Phase 3) Begins in Earnest, Strengthening Infrastructure for Future Development

Phase 3 expansion of the Songdo International City Public Sewage Treatment Facility is currently in progress. The project involves building a 50,000-ton-per-day sewage treatment facility, a 15,000-ton-per-day wastewater relay pumping station, and 4 km of pipelines, with a total cost of approximately KRW 183 billion. The project will be carried out using a turnkey approach and aims for completion in 2030. The expansion proactively addresses the increased volume of wastewater resulting from the development of bio-industrial complexes, such as Samsung Biologics and Lotte Biologics, and facilitates infrastructure development within Songdo District 11. The facility will be relocated underground, and the upper area will be redeveloped into resident-friendly amenities and park space, transforming it into an eco-friendly mixed-use complex.

10. Cheongna Haneul Bridge Revitalizes the Construction Economy through Regional Cooperation for Coexistence

The Cheongna Haneul Bridge (Third Landing Bridge), promoted by IFEZA, has opened successfully, demonstrating Incheon’s construction industry capabilities through technical collaboration with local companies. The project is seen as a model public-private partnership that includes many local patents and innovative technologies. Led by a consortium of POSCO E&C and Hanwha Construction Division, the project involved extensive collaboration with regional companies. On the Cheongna side, eight local firms applied high-durability waterproofing technology and patented expansion joints to improve structural safety. On the Yeongjong side, collaboration with local companies ensured advanced deck fabrication and steel bridge assembly, and the installation of patented noise-reduction tunnels.

The bridge’s main tower observatory, standing 184.2 meters above sea level, along with experiential tourism facilities, will open to the public in March.

11. Establishing a West Coast Circular Cycling Network by Developing “300-ri Bicycle Path”

The “300-ri (app. 130 km) Bicycle Path” project, which connects Jeongseojin in Seo-gu to Yeongjongdo Island, Muuido Island, and Ara Waterway, is gaining momentum. Connected to the Third Landing Bridge bicycle path, the project will finish a 130 km circular eco-friendly transportation network that links coastal, urban, and island areas of Incheon. With a total investment of KRW 33.65 billion, the project aims to connect approximately 20 km of previously disconnected sections to complete the Yeongjongdo Island loop. Three rest areas and scenic viewpoints will be added for cyclists’ convenience. The entire route is expected to be completed by 2026, establishing the West Coast circular network as a world-class cycling tourism destination.

12. Songdo ConvensiA Achieves Record Performance, Accelerating Phase 3 Expansion

Songdo ConvensiA in Incheon recorded its highest-ever operational performance last year, strengthening its position as a global MICE hub. According to IFEZA, the exhibition hall utilization rate reached 59%, a 2 percentage point increase from the previous year, nearing full capacity. A total of 1,033 exhibitions and conferences took place, drawing 1.06 million visitors. International conference hosting surged by 263% compared to the previous year. The estimated economic impact included sparking KRW 581.2 billion worth of production and creating 6,237 jobs, acting as a significant driver of regional economic growth. With the utilization rate approaching the optimal threshold of 60%, IFEZA has started a feasibility study for Phase 3 expansion. The KRW 311.7 billion project will add three exhibition halls and commercial facilities, further establishing Songdo ConvensiA as a top-tier MICE destination.