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Why IFEZ

IFEZ Concept
  1. 홈
Free Economic Zone

Designated as Korea's first free economic zone in 2003, IFEZ has been the focal point of the government's strategies to become the Northeast Asian economic hub. It covers a total area of 122.34 square kilometers including Songdo, Yeongjong, and Cheongna International Cities, as well as the Incheon International Airport and Port.

Incheon is the starting point of Korea's west coast, the axis of land development and economic/industrial development. It serves as a gateway to Seoul and the metropolitan region, home to 23 million people. Located just 8km away from downtown Incheon, and about 50km from central Seoul, the Incheon Free Economic Zone is adjacent to the Incheon Port and can easily be accessed to major metropolitan areas only 60-90 minutes away.

What is a Free Economic Zone?

A Free Economic Zone refers to a special economic area created to actively attract foreign investment by enhancing the business environment and living conditions of foreign-invested companies, and by maximizing the autonomy and investment incentives of companies through deregulation. To ensure freedom to pursue a wide range of business activities, FEZ provides extensive tax incentives, deregulation for free economic activities, a comfortable living environment, and convenient administrative services.

Incheon Free Economic Zone Business Overview
Date of Designation
2003.08.11
Expected population and total project expenses
543,653 people / 81,333.1 billion won
Project Period
2003 - 2030
Project Area
Total 122.34㎢ - 42 times the size of Yeouido
Development Direction
Songdo (Business IT· BT), Yeongjong (logistics, tourism), Cheongna (business/finance, tourism, and leisure, high-tech industry)
Development Areas
Incheon Metropolitan City Yeonsu-gu (Songdo International City), Jung-gu (Yeongjong International City), Seo-gu (Cheongna International City)