Incheon Free Economic Zone Authority and IPA Sign Investment Agreement for Incheon Port Marine Complex 'Golden Harbor'

The Incheon Free Economic Zone Authority and Incheon Port Authority (IPA) signed a memorandum of understanding (MOU) on April 30 at G Tower in Songdo International City to attract tourism and leisure facilities to Golden Harbor.

The agreement was established to strengthen cooperation between the two organizations for attracting investment related to the Golden Harbor project, which aims to create a marine tourism landmark in the hinterland of the Incheon Port International Passenger Terminal. The Incheon Free Economic Zone Authority will focus on attracting foreign investment, while IPA will leverage its experience in port infrastructure development and operation. Both parties agreed to closely cooperate in attracting investment companies to the Aam Logistics Complex.

Golden Harbor is a commercial site of approximately 427,000 square meters located in Zone 9 of Songdo International City, Incheon. It is adjacent to the Incheon Port International Passenger Terminal and the mega cruise terminal, and boasts excellent accessibility to Incheon International Airport. The site will be developed as a marine complex featuring leisure, recreation, shopping, and entertainment facilities.

Golden Harbor bird's-eye view. Incheon Port Authority

The Austrian Therme Group plans to sign a business agreement and lease contract with the Incheon Free Economic Zone Authority by June and develop a botanical garden-style spa complex on the site, which will include a resort, spa, and water park. Earlier this year, Superblue of the United States submitted a letter of intent to invest and is currently considering establishing an immersive exhibition center, 'Superblue Korea,' in Songdo, including on the Golden Harbor site.

Yoon Wonseok, Commissioner of the Incheon Free Economic Zone Authority, stated, "The core axis of regional growth is to create an investment environment that meets international standards and to expand the attraction of foreign capital. Through this agreement, we will actively pursue investment attraction."

Lee Kyungkyu, President of Incheon Port Authority, said, "Golden Harbor is more than just a port development project; it is a key initiative that will open the future of Korea's marine tourism industry. This agreement is significant in that it enables the public sector to create a reliable investment environment and allows the private sector to unleash its creativity."