Passed Review by Ministry of Trade, Industry and Energy Free Economic Zone Committee
Expansion of Advanced and Bio Cluster
The Incheon Free Economic Zone Authority announced on July 8 that the proposed amendment to the development plan for the Songdo District 11 development project (Advanced Industrial Cluster (C)) has recently passed a review by the Economic Free Zone Committee of the Ministry of Trade, Industry and Energy.
The main points of this development plan amendment include: ▲concentrated placement of industrial and research facility sites, ▲relocation of residential and school sites, and ▲rearrangement of infrastructure such as parks and roads. Industrial and research facility sites have been concentrated south of the central park axis to strengthen the function of the bio cluster, while residential and school sites have been placed to the north to provide a pleasant living environment.
Additionally, in the special planning zones along the internal canal?part of the Waterfront Project?(Mini Venice and Mini Malibu), some row house, commercial, and mixed-use sites have been changed to residential-commercial complex sites. This was done to improve investment attraction efficiency and to address the increasing vacancy rates in commercial facilities.
With the relocation of industrial/research and residential sites, the overall street network and park/green space plans have been efficiently reestablished. Infrastructure sites have also been rearranged, reflecting feedback from relevant departments.
Following the development plan amendment, the Incheon Free Economic Zone Authority plans to promptly proceed with subsequent administrative procedures, including environmental and traffic impact assessments, educational environment evaluations, and landscape reviews. The authority aims to establish and announce the revised implementation plan for the Advanced Industrial Cluster (C) within the year.
Songdo International City was designated as a bio-specialized district by the Ministry of Trade, Industry and Energy in June 2024. Since then, investment demand has been increasing, including requests for land supply from domestic and international companies, but there is a shortage of available land.
To address this issue, the Incheon Free Economic Zone Authority plans to modify the land use plan for the Advanced Industrial Cluster, which is currently undergoing reclamation and infrastructure construction, to secure additional industrial facility sites and to strengthen the advanced and bio-industrial cluster ecosystem.
Yoon Wonseok, Commissioner of the Incheon Free Economic Zone Authority, stated, "The amendment to the development plan to transform Songdo International City into a world-class bio mega-cluster has been completed. We will do our utmost to expand our lead in the global bio market and to create a differentiated urban environment, so that Incheon can become a driving force for future growth."
Meanwhile, Songdo District 11, which is 4.3 times the size of Yeouido (12.45 million square meters), currently has a development rate of 68.3%. Reclamation and infrastructure construction for District 11-1 (4.32 million square meters) is scheduled for completion by the end of this year; District 11-2 (1.53 million square meters) by 2029; and District 11-3 (1.07 million square meters) by 2030.
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