E-Land Group's 5 Company Headquarters to Establish 'Nest' in Songdo, Incheon by 2030... Construction of Complex Shopping Mall and Hotel Planned

[Asia Economy Reporter Park Hyesook] The E-Land development project planned in Songdo International City, Incheon Free Economic Zone (IFEZ), is set to be actively promoted after 12 years.

On the 9th, the Incheon Free Economic Zone Authority held a signing ceremony for the 'Songdo E-Land Complex Mixed-Use Development Project' at Songdo G Tower, attended by Incheon Mayor Yoo Jeong-bok, Incheon Free Economic Zone Authority Chief Kim Jin-yong, and Yoon Sung-dae, CEO of E-Land Retail Co., Ltd.

This comes 12 years after the land sale contract was signed in November 2011 between Songdo International City Development LLC (NSIC) and E-Land Retail.

According to the agreement, E-Land Retail will develop a mixed-use shopping mall with six underground floors and 23 above-ground floors on a 19,587㎡ site near Incheon National University Station on Incheon Line 1, within the Songdo International Business District, by 2029. The project also includes attracting a 5-star hotel, providing free startup office spaces, and constructing officetels.

Once the office building is completed, E-Land plans to relocate the headquarters of five affiliated companies?E-Land Construction, E-Land Eats, E-Land Service, E-Land Asset Development, and E-Land Next?which are currently scattered across areas such as Gasan Digital Complex in Geumcheon-gu, Seoul, to Songdo by 2030.

The total number of employees in these companies is about 1,500, and the city expects an additional 1,500 new jobs to be created.

On the 9th, at the 'Songdo E-Land Complex Mixed-Use Development Project Agreement Ceremony' held at G Tower in Songdo, Incheon, Yoo Jeong-bok, Mayor of Incheon, and Yoon Sung-dae, CEO of E-Land Retail (third from the left), signed the agreement and took a commemorative photo with officials.
[Photo by Incheon City]

CEO Yoon said, "We will make the E-Land Complex a one-stop living space with functions such as distribution, dining, and hotels, as well as a landmark of Songdo."

Mayor Yoo stated, "Once the project is in full swing, it will greatly contribute to revitalizing the local economy by increasing the floating population in Songdo, activating surrounding commercial districts, and creating jobs. We will actively support the smooth progress of this project going forward."