[Asia Economy Reporter Park Hyesook] Incheon City is preparing a comprehensive Incheon-type New Deal plan in response to the Korean New Deal.
The city announced on the 3rd that it will operate the 'Incheon-type New Deal TF,' composed of related officials and experts, to establish the comprehensive Incheon-type New Deal plan by September.
The Korean New Deal is a national development strategy that invests a total of 100 trillion won by 2025 to transition to a digital economy and a low-carbon, eco-friendly green economy, creating 1.11 million jobs.
Incheon City plans to promote the Incheon-type New Deal based on this Korean New Deal framework, adding the bio industry, in which Incheon has strengths, as a 3+1 axis.
Bio is one of Incheon City's strategic industries, and a plan is underway to build the world's largest bio cluster in Songdo International City by 2030.
The bio cluster, developed on 920,000㎡ in Songdo Blocks 4 and 5, will be expanded to a total of 2 million㎡ by connecting it to the newly reclaimed Songdo Block 11, increasing the total number of resident companies to 700 and raising employment from the current 5,000 to 20,000.
In particular, the bio healthcare value chain, which connects 'research and development - clinical - reliability verification - production,' will be completed, and the total bio pharmaceutical production capacity will be expanded from 560,000ℓ to over 1 million ℓ. Additionally, comprehensive medical facilities such as Songdo Severance Hospital will be attracted to provide advanced medical services and link with bio field research.
The city plans to solve urban issues through the Incheon-type New Deal while attracting innovative technologies, global talent, and capital to advance as a global high-tech industrial city.
To address urban problems and other issues in Incheon, the city will prioritize projects related to safety and urban environment that citizens can feel, such as smart water and sewage systems, smart resource circulation, and smart medical services in island areas.
Furthermore, as a measure to strengthen future competitiveness, the city will focus on fostering the bio cluster and AI (artificial intelligence) cluster, which have been established during the 7th term of the elected government, along with offshore wind power generation, smart industrial complexes, digital twins, and eco-friendly future mobility.
Mayor Park Namchun said at the meeting of department heads held that day, "The future of Incheon should not be a city that sacrifices itself for the metropolitan area but a global future-leading city where world-class innovative technologies and global talent and capital gather," and urged, "All departments will work together to prepare the effective comprehensive Incheon-type New Deal plan with a sense of urgency."
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