By Kim Hee-jong
Director of Public Relations Division at Incheon Free Economic Zone
Since Incheon was designated as the country’s first free economic zone in 2003, it has made huge leeway in transforming the city into a top free economic zone.
To date foreign direct investment in the Incheon Free Economic Zone has reached $9.5 billion and 12 international institutions have offices in the city, including the Green Climate Fund, World Bank Korea and the Association of World Election Bodies. Recently, the United Nations Governance Center decided to take up office there.
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Kim Hee-jong , Director of Public Relations Division at Incheon Free Economic Zone |
On top of this, the city is becoming an educational hub with world-class schools, such as George Mason University, the University of Utah and Belgium’s Ghent University, opening branches in the area.
The IFEZ is also supporting the city in its bid to become a “bio mecca” that will not only boost the biopharmaceutical industry, but will also stimulate employment.
In 2018, Samsung Biologics’s third plant with a biopharmaceutical production capacity of 510,000 liters -- the world’s largest -- is slated to open.
The IFEZ will keep working to attract more foreign investors and to promote the strengths of the city and turn it into a core region of economic growth.
