IFEZ 인천경제자유구역 로고

On Tuesday, December 15, 2015, Incheon Metropolitan City and the Incheon Free Economic Zone Authority (IFEZ) signed an investment agreement with Korea Mitsubishi Elevator for the construction of an elevator manufacturing facility and a global R&D center in Songdo International City. Korea Mitsubishi Elevator planned to invest KRW 30.5 billion (approximately USD 26 million) to build a manufacturing plant, a test tower, a product verification center, and a maintenance and installation training center, with construction scheduled to begin in April 2016 and factory operations to start in the second quarter of 2017. The project was designed to establish a production and research base for high-speed, high-efficiency elevator systems for both domestic and overseas markets. Korea Mitsubishi Elevator is a company specializing in premium elevator systems for high-rise buildings.