Incheon Free Economic Zone
W e B u i l d S u c c e s s Incheon Free Economic Zone
We B u i l d S u c c e s s
English
Contents 10 12 14
The Incheon Free Economic Zone,
16
Business & Finance
40
the choice of global companies
20
Logistics
Appendix Aerial photograph
One-stop service
New model of a global business city,
24
Advanced industry
the Incheon Free Economic Zone
28
Bio-Medical
Prospective Business
32
Education
36
Tourism & Culture
Where to live, how to work and what to enjoy Systematic city planning and perfect construction for you This is the Incheon Free Economic Zone, Korea
Business and Living All Together The Incheon Free Economic Zone is a new international hub for business where people can live, work and enjoy their lives all in the same place. This dynamic evolving city will become the cornerstone of your success.
Incheon Free Economic Zone
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Harmonious Green City Life in the Incheon Free Economic Zone is peaceful and abundant with parks and broad fields of green covering more than 30% of the city. There is a new daily waste incinerating facility, a treated sewage recycling system and other systems, which work beyond eyeshot.
Incheon Free Economic Zone
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Ubiquitous Technology for Tomorrow City The implementation of the U-City(Ubiqutous City) system based on IT technology that allows you to take part in daily tasks more quickly and efficiently whenever and wherever you want. Your life will be more comfortable with technology you never experienced before.
Incheon Free Economic Zone
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& More… Incheon Free Economic Zone
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IFEZ’s Advantages
The Incheon Free Economic Zone, the choice of global companies
Geographical advantage Now, the Incheon Free Economic Zone has caught the attention of world business
RUSSIA CANADA
leaders. From here you can visit 61 megacities in 3.5 hours flying time and do business EUROPE
with more than 1/3 of the world’s population. The city in a good position for those who
ASIA
IFEZ
want to enter the Chinese market due to its close proximity to major cities in China such as Beijing and Shanghai. CHINA INDIA
Beijing
With the city’s strategic location just a 20 minute drive from Incheon International
Hong Kong
Airport, which has been consecutively rated as number one in the world in airport service and emerged as the main hub of Northeast Asia, and the Incheon port with the most advanced infrastructure, keeping the pace of business humming along. Plus, the transportation network allows you to get Seoul and the metropolitan area within one hour.
Incheon
Shanghai
Perfect infrastructure
NORTH AMERICA UNITED STATES OF AMERICA
Tokyo
1hr 2hr MEXICO
3hr
AFRICA
Singapore INDONESIA SOUTH AMERICA BRAZIL
Highly educated manpower Korea is recognized for its high level of education by the major industrialized nations of the world. The Incheon Free Economic Zone can indeed maximize the use of highly
AUSTRALIA
ARGENTINA
educated manpower in high-tech industries including IT, BT and NT due to its close proximity to the metropolitan area of Korea. NEW ZEALAND
Incheon Free Economic Zone
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IFEZ Overview
New model for global business city, the Incheon Free Economic Zone
nal atio tern sway n I eon pres Inch ort Ex Airp al tion rna Inte ay n o e ilw Inch ort Ra Airp
The Incheon Free Economic Zone is an international city that the Korean government has designated as the foremost site for global business to become the driving engine for the best economic activity. The IFEZ consists of Sondgo, Yeongjong and Cheongna forming a triangular district for development.
Area : 169.5㎢
Cheongna Gyeongin Expressway
ge Brid 3rd
Infrastructure development costs : 36.36 trillion won Estimated population : 640,800 people
Incheon North Port
2n dB rid ge
Songdo Development plan: international business, IT, BT, R&D Area : 53.3㎢ Infrastructure development costs : 10.42 trillion won Estimated population : 252,000 people
Incheon International Airport
Yeongjong
Incheon Inner Port
Inc he on
Br idg e
Incheon Coastal Port
Yeongjong Development plan: airport, freight, tourism Area : 98.4㎢ Infrastructure development costs : 19.71 trillion won Estimated population : 298,800 people
3rd Gyeongin Expressway
Songdo Cheongna Development plan: finance, leisure, advanced vehicles Area : 17.8㎢ Infrastructure development costs : 6.23 trillion won Estimated population : 90,000 people Incheon New Port
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2nd Gyeongin Expressway
Prospective Business The Incheon Free Economic Zone will create various infrastructure for business, logistics, advanced industry, bio-medical, education, tourism, culture and leisure.
All of these businesses will cooperate with each other to generate an incredible level of synergy.
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1
Business & Finance
2
Logistics
3
Advanced Industry
4
Bio-Medical
5
Education
6
Tourism & Culture
Business & Finance The Incheon Free Economic Zone offers a great business opportunity for all. Despite realistic difficulties, the Incheon Free Economic Zone has steadily continued to prosper. A skill to embody touchscreen technology in everyday has an vital impact in the work, life, education and leisure activity of people. I have no doubt that Korea is a world leader in this field. SMART+Connected Communities and the U-City initiative will be able to utilize Incheon as a showcase to introduce such technology all over the world.
Cisco’s executive director of the Solutions Project in the Asia-Pacific
Munish Khetrapal
Incheon Free Economic Zone
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We Build Success
Business & Finance
Various and efficient business environments in which office buildings,
New business paradigm
convention centers, hotels and golf-clubs are located just a 30-minute walk from the central international business complex
One stop business center for all your needs
Another business after business The Incheon Free Economic Zone is not
The International business complex in
only designed as an optimal business
the Incheon Free Economic Zone has
environment, but also as a residential
skyscrapers including the 71-floor Northeast
environment.
Asia Trade Tower(NEATT), the convention Incentives, Convention, Events & Exhibition)
market is on the rise, the Incheon Free
Park of New York City, is a green oasis in
project, a world-class hotel and a golf-
Economic Zone, with a great business
the heart of a bustling city and the Jack
resort.
environment, proposes a new business
Nicklaus Golf Resort with conference
paradigm to the world.
room, spa and luxurious restaurant creates
Cisco, Samsung, IBM and several global
another business environment with different
companies have already moved into the city
The city’s location just 20 minutes drive
and opened their business.
from the world-class Incheon International
atmosphere with in the city.
Airport and the Incheon port with the most
In addition, visitors can have a wonderful
As the Chinese market is beginning to
advanced facilities and one hour from
evening after work at the world-class hotel,
represent an increasing share in the world
Seoul, the capital of Korea and nearby area
retail center, major supermarkets, the movie
economy and the importance of the Asian
broadens its business environment.
Songdo International business complex is the center of business and finance
Songdo Convensia hosts international conferences, events and exhibitions
Incheon Free Economic Zone
Central Park with its green spaces and water taxis provides an ideal place to relax and go sightseeing
Songdo Central Park, inspired by Central
center for international MICE(Meeting,
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Jack Nicklaus Golf Club is an 18-hole championship golf course designed by Jack Nicklaus himself
theater and many local restaurants.
There is a world-class hotel and a commercial area nearby
We Build Success
Business & Finance
Logistics Incheon Free Economic Zone is of vital strategic importance for Northeast Asia connecting China and Japan. Likewise, the city plays a very important role in terms of efficiency. Logistic costs and shipping times are significantly reduced if the freight passes through the Incheon Free Economic Zone. Support from the Korean government and the City of Incheon is a huge help for a global company like ours. DHL Korea will continue to develop an integrated business strategy to offer an efficient one-stop service to customers under an amicable relationship with the Incheon Free Economic Zone.
DHL Korea
Chris Callen
Incheon Free Economic Zone
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We Build Success
Logistics
There exists an advanced logistics service environment that
Gateway to Northeast Asia
allows companies to significantly reduce the delivery time and cost of logistics by grasping an accurate flow of delivery and responding to the customers’ requests in a prompt manner
Incheon International Airport, the world’s best airport in customer service for 6 years running and the second largest in terms of air freight
Incheon Free Economic Zone has the best environment for a logistics company to
Prompt and effectual logistics
deliver product accurately and rapidly to Korea and all over the world as the city has
As E-business becomes the core of global
a free trade zone in which global logistics
competitiveness, the city’s adjacent postion
companies such as DHL, DB Schenker and
to the airport attracts attention as the
AMD and domestic logistics companies
best location for global business. Incheon
have moved in.
International Airport and Incheon port are contiguous to the Incheon Free Economic
In addition, global logistic companies
Zone.
settled in the city can take advantage of an advanced logistics service to grasp the
Incheon International Airport, which serves
flow of delivery and reduce travel time and
63 airlines and 150 cities in 50 countries
costs thereby, those companies that have
(September, 2011) and has 4,500,000 tons
moved into the city can instantly respond
of cargo pass through it each year and
to customers’ demands through a global
Incheon port, the major logistics center
logistics company.
of the Yellow Sea area, has seen a 10% increase in annual commercial traffic for the
The perfect logistics environment of the
last 5 years and is expected to expand to
Incheon Free Economic Zone quickens the
152 berths by 2020.
pace of business even more.
The fifth biggest cable stayed bridge in the world Incheon Bridge connects Yeongjong (Incheon International Airport) and Songdo International City
Incheon Free Economic Zone
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We Build Success
Logistics
Free trade zone behind Incheon International Airport
Incheon port
Advanced Industry Three years ago, our company chose the Incheon Free Economic Zone after careful consideration. Besides its close vicinity to the airport, we were attracted by the young, creative and outstanding manpower. Plus, all the advanced facilities were the crucial reason why we chose the Incheon Free Economic Zone.
Vice-president of Mando-Hella Electronics
Marcus Stehle
Incheon Free Economic Zone
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We Build Success
Advanced Industry
Environment for advanced industry with the establishment
The undisputed IT powerhouse of the world
of an advanced industry cluster based on knowledge-based industry, the advanced aviation industry, the motor industry and the IT convergence valley
High-tech motor industry The Incheon Free Economic Zone is located nearby the metropolitan area of Korea and
Cheongna, the Incheon Free Economic
outshines its value as the best place for
Zone promotes the high-tech motor industry
utilizing the outstanding manpower.
including automobile parts manufacturing and research.
Knowledge based industry
Advanced aviation industry Incheon High-tech Park(IHP) located in
Songdo, the Incheon Free Economic Zone
Yeongjong, the island on in which Incheon
Cheongna is waiting for companies that
vibrant with international service enjoys
International Airport is located, is being
could lead the development of advanced
research that can lead the world economy
promoted as the center of the aviation
technology including automobile parts,
in the future in software and hardware
industry.
new materials, IT, advanced R&D and the robotics industry and GM Korea, which has
including outstanding manpower, facilities, Yeongjong of Incheon Free Economic
already moved in, to lead the automobile
Zone is soaring to new heights with an
industry by conducting a vehicle mobility
Knowledge-based industries rooted
aeroengine service center established
test and research and development at its
themselves in Incheon Free Economic Zone
by the IAT(Incheon Aviation Tech), a joint
R&D center. Also, Brose from Germany, the
and are constantly growing as the research
company between Korean Air and the
number one company in the automotive
centers and companies are based on IT,
world-class engine manufacture, UTC in
electric motor field and Mando, the Korean
BT and NT and the enterprise-supporting
the US and Asia’s biggest aircraft training
automobile parts manufacturer established
center founded by Boeing, the world’s
a joint venture to lay the ground to dominate
largest aerospace company.
the future of the automobile market.
equipment and data.
RFID/USN center, which makes creaseless efforts towards research and development
agencies have merged to amplify the synergy.
Songdo Techno Park, the center of knowledge-based industries
The company and research center with advanced IT technology continues to move towards the information and knowledge industrial complex
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R&D testing grounds of GM Korea
We Build Success
Advanced Industry
Bio-Medical Celltrion enjoys many benefits of the Incheon Free Economic Zone in terms of logistics and manpower. First of all, the city’s location near Incheon International Airport and Incheon port is a huge advantage for us to export our products to the global market. Plus, the city is a one hour drive from the metropolitan area and thereby, we can secure outstanding employees required for today’s knowledge-based industry.
Chief VP of Celltrion
Kim Hyunggi
Incheon Free Economic Zone
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We Build Success
Bio-Medical
The Incheon Free Economic Zone offers the best
A new mecca of the medical and bio industry
environment to the medical and bio industry with good receptivity, a vast pool of experts and excellent research know-how
New market, outstanding technology and environment
Biologics in which Samsung has invested and bio technology companies have moved in and accelerated the growth of the bio
The Incheon Free Economic Zone provides
industry itself.
the best environment for the medical and
In addition, many domestic and foreign
bio industry.
research institutes including the Utah-Inha DDS research center, the CJ bio-technology
The Biosimilar market, of which patents will
research center, the GE health care
gradually start to expire in 2013 is expected
R&D center, the Hanil Science Industrial
to show huge growth.
laboratory and the Iwon Life Science
Berna Biotech Korea, established by
laboratory.
Crucell the world’s most famous biopharmaceutical company is presently
BRC(Bio Research Complex) was
developing a vaccine in Songdo, Incheon
established to develop new medicine and
Free Economic Zone.
device and advanced medical services
Starting with Celltrion, which takes the
through BT, IT and the NT technology
lead in the biosimilar and bio medicine
integrated research cluster proposes a
industry based on accumulated experience
new model in the medical and bio field.
and knowledge, world-class advanced
Accordingly, Songdo, Incheon Free
pharmaceutical technology, equipment
Economic Zone is emerging as the new
and quality assurance systems, Samsung
mecca of the medical and bio industry.
The Bio Research Complex(BRC) aims for the best bio cluster in Northeast Asia
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We Build Success
Bio-Medical
Education I was fascinated by the beautiful culture and history of Korea and especially warm-hearted Koreans during my stay in Korea from 1988 to 1992 as the president of HP Korea. I came back to Korea with the Chadwick International School and I do believe that there is a special tie between Korea and myself. Plus, everyone in my family is filled with anticipation about being back in Korea. The Chadwick International School will be fully ready to become a school in which students can make their dreams come true and achieve their visions and goals.
President of Chadwick International
Richard C. Warmington
Incheon Free Economic Zone
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We Build Success
Education
The global educational environment is one
Talented individuals of the future
in which students can receive all levels of education from kindergarten to university without studying aboard
The cradle of global talent
the global campus with competitive degree programs offering a broad and high level of education.
Korea is recognized for its high educational standards in the world. At this very moment, talented people are being nurtured in the
Korean and foreign students will become
Incheon Free Economic Zone. Children
global leaders based on their advanced
living in the Incheon Free Economic Zone
education and such students will be
will experience a world-class educational
the most effective resources for those
environment without studying aboard.
companies that move into the Incheon Free Economic Zone.
The country’s largest Chadwick International School(Songdo) and the Dalton International
Global service center
School(Cheongna) combine to create the best educational environment and offer
The Incheon Free Economic Zone operates
world-class curriculum and programs from
a global service center. The global service
kindergarten to high school.
center helps foreigners deal with any
The local university including the Yonsei
inconveniences and problems they may face
international campus, Incheon College with
by offering the daily living support services,
its state-of-art facilities creates an integrated
foreign community support, a publication
R&D cluster, which can establish a tie with
of practical guidelines for foreigners and
overseas universities and companies and
friendly approachable services.
Incheon Free Economic Zone’s various education infrastructure
Foreigner orientation program hosted by the global service center will improve the residential environment for its expats
Incheon Free Economic Zone
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We Build Success
Education
Tourism & Culture When I first visited Yongjongdo, and the Incheon Free Economic Zone, I could not take my eyes off its picturesque and beautiful scenery. That beautiful scenery fully convinced us that we will be able to establish a tourism-leisure complex, one as we have only dreamed of. Plus, the city’s strategic location nearby Incheon International Airport, the gateway to Korea and Seoul is huge advantage. We decided to commit to the investment because of the city’s fascinating scenery that would attract many tourists and the environment fulfilling the various demands of residents and companies.
Midan City
Joseph Chiang
Incheon Free Economic Zone
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We Build Success
Tourism & Culture
Wonderful natural tourist attractions of Incheon free
A wonderful natural environment and tourist attractions
economic zone, the center of Northeast Asia with four distinct seasons infinite amount of potential to become the best tourism-leisure complex
The picture below shows the ideal tourism-leisure complex that Incheon Free Economic Zone is aiming for. Marina Bay Sands, the tourism-leisure complex in Singapore(source: Ssangyong E&C)
tourist attractions. Incheon Free Economic Zone with its unique natural environment has an infinite amount of potential to create a new tourism-leisure complex with all the
The growing tourism industry, the emerging Incheon Free Economic Zone
features of rest, leisure, tourism, shopping, culture and entertainment. It only takes about 4 hours to travel to 50
According to the World Tourism
major cities including Beijing and Tokyo
Organization(WTO), the world’s tourism
by plane and the city nearby Incheon
market is expected to grow from 900 million
International Airport and Incheon port will
people in 2008 to 1.60 million travelers by
be recognized as the place with all the
2020 and from 1.8 million people to 400
advantages of Northeast Asia.
million in the Asia-Pacific region. Especially,
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Yongjongdo, Incheon Free Economic Zone boasts of a wonderful natural environment
transportation hub, Incheon Free Economic Zone is the most suitable place for a new
Northeast Asia is expected to show huge
Incheon Free Economic Zone established
tourism-leisure complex. A robot theme
growth and the Incheon Free Economic
a master plan for a world-class tourism-
park established under cooperation with
Zone is emerging as a new opportunity for
leisure complex, benchmarking major
the industry and a golf resort in the city are
a tourism-leisure complex.
tourist attractions including Las Vegas,
another aspect of the pride and joy of the
Singapore, Dubai and Hong Kong. With
Incheon Free Economic Zone. The tourism-
Korea is characterized as having four
its strategic location nearby the airport and
leisure complex of Incheon Free Economic
distinct seasons and wonderful natural
the metropolitan area and a well-connected
Zone will offer new opportunities.
We Build Success
Tourism & Culture
Your Needs & Our Focus : One-stop service It is not easy to show all the faces the vibrant image of the Incheon Free Economic Zone possesses, which will be the best economic city in Northeast Asia, a business city in which people will enjoy living and work. Come and see the promising Incheon Free Economic Zone with your own eyes.
Business/investment information Inquiry and/or consult regarding investment
Development project Inquiry and/or consult about the investment
- Designate a PM
Submit investment intentions Submit investment intentions - Provide a format of a business plan - Examine the approval and site in advance
One-Stop Service The Incheon Free Economic Zone provides systematic investment management services through investment examinations, an
Investigate investor’s credit ratings
execution phase and follow-up services. Please, contact us for further information. We will pay careful attention to the requests of our customers with an open mind.
Investigate the investor’s credit ratings
Discuss an MOU or select preferrences in the project
Submit the business plan Submit a business plan
Enjoy the best infrastructure and the greatest service ever.
Investment deliberation committee - The MOU can be made before the deliberation or this deliberation can be dropped, if necessary
Private finance initiative deliberation committee
Discuss and enter into an MOU
Establish an SPC and report the investment
Report the foreigner investment/establish the foreign investment enterprise
Make an investment agreement
Major one-step services 01 Provide information regarding foreigner investment in the Incheon Free Economic Zone 02 Support foreign investors in their investment opportunities 03 Answer questions regarding laws, taxes and accounting 04 Provide advice and consultations on incentives for foreign investors 05 Offer investors an evaluation of investment locations 06 Support the search for promising investment partners 07 Provide various administration and foreign investment related civil affairs management agencies 08 Provide business mediation with administrative authorities and related organizations 09 Resolve difficulties individual investors may have in maintaining their business
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Make an investment agreement
Change the development plan and /or appoint a project promoter
Evaluate the approval
Approve the business plan
Start construction/operations
Start the development project
The Incheon Free Economic Zone has continued dynamic and systematical development so far. Incheon has established an amazing city infrastructure during the last 8 years and such development will be continued. When the whole project is completed, business will pick up for a change and you will be able to enjoy a better life with leisure facilities, an outstanding educational environment for your children and a pleasant residential environment. Imagine a better tomorrow of the Incheon Free Economic Zone, which attracts wide attention as an ideal aerotropolis today.
Incheon Free Economic Zone
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Incheon Free Economic Zone Authority 12 Getpearl-ro (Songdo-dong), Yeonsu-gu, Incheon 406-740, Korea Tel 032-453-7070 Fax 032-453-7089 www.ifez.go.kr
Date of publication October, 2011 Publisher Incheon Free Economic Zone authority Plan and design Design Jungle Co.,Ltd Real pictures of Incheon Free Economic Zone taken on August, 2011 were used in this brochure.
Songdo
We Build Success Incheon Free Economic Zone
Samsung Biologics (in progress)
Tomorrow City Bio research complex (in progress)
Incheon Bridge
Incheon Free Economic Zone Younsei University, Songdo global academic complex
Incheon University Songdo Science Village (expansion is in progress)
Meet-YouAll tower Saeachim Park
Meet-You-All Park
Global University Campus Dalbit Park
Songdo Techno Park
Celltrion Haedoji Park
Songdo Songdo Bridge Hotel Park Hotel Songdo Convensia
Get Pearl Tower
Chadwick International School
NEAT Tower & Sheraton Hotel Central Park Jack Nicklaus Golf Resort
Canal Walk Incheon Art Center (in progress)
Yeongjong Yongye-Muui culture, tourism and leisure complex (in progress) Free Trade Zone
Incheon International Airport Incheon Bridge Observatory
Yeongjong Sky City skyline (in progress)
IBC-1
Sky72 Golf Club
IBC-2 (in progress)
Wangsan Marina (in progress)
Milano Design City (in progress)
Incheon Bridge
Cheongna
Yeongjong Bridge International BIT Port (Seoul National University, KAIST) (in progress)
Robot Land (in progress)
R&D center of GM Daewoo
International Business Town (in progress) Dalton International School Advanced Agroindustrial Complex (in progress)
Bearsbest Golf Resort
Incheon High-tech Park (in progress)