IFEZ 인천경제자유구역 로고

On Wednesday, September 23, 2015, Incheon Metropolitan City and the Incheon Free Economic Zone Authority (IFEZ), together with Incheon Urban Development Corporation and Shinsegae, signed an investment agreement for the Shinsegae mixed-use shopping mall in Songdo International City. Under the agreement, Shinsegae planned to invest KRW 500 billion (approximately USD 425 million) including foreign capital to develop an urban-style mixed-use shopping mall on a 59,600-square-meter site, featuring a department store, a hypermarket, entertainment facilities, and cultural amenities, with completion targeted for 2019. The project was expected to create more than 3,000 jobs, revitalize the local economy, and enhance the international city brand value of Songdo International City.