Bid Won for 81,000 Square Meters at 36.7 Billion Won;
Development to Include Citizen-Friendly Spaces
Assemblyman Heo Expects “Signal for Investment Vitalization”
The SSG Landers' minor league baseball stadium is expected to be built within the Hansang Dream Island, a tourism and leisure complex currently under development on Yeongjongdo, Incheon.
According to data obtained by Assemblyman Heo Jongsik of the Democratic Party of Korea (representing Dong-gu and Michuhol-gu Gap in Incheon) from the Ministry of Oceans and Fisheries, E-Mart won the bid for an 81,087-square-meter site designated as a recreational area within the “Incheon Port Yeongjongdo Dredged Soil Disposal Site Port Redevelopment Project (Hansang Dream Island)” at a public auction on June 11, securing the land for approximately 36.7 billion won.
E-Mart stated to Assemblyman Heo’s office, “The site is about a 10-minute drive from the Cheongna Dome, which is scheduled to open in 2028. We plan to develop the area to include sports facilities such as the SSG Landers' minor league baseball stadium and spaces that can be used by both athletes and citizens.”
However, since a previous contractor whose contract was terminated for failing to pay the balance has filed for an injunction, a legal dispute is currently underway, and E-Mart’s payment of the remaining balance has been postponed. Industry insiders expect the related lawsuit to be resolved within this year.
The Hansang Dream Island project, the first in Korea to be promoted through a private redevelopment model, covers a site of 3.33 million square meters-about 1.1 times the size of Yeouido. Construction began in March 2019, aiming to create an integrated tourism and leisure complex linked to Yeongjong and Cheongna, and was completed in March of last year.
The land acquired by E-Mart is surrounded by 297,120 square meters of public amenities, including soccer fields, baseball fields, campgrounds, and walking trails that were previously established on park land. This is expected to create synergy with the future SSG Landers minor league baseball stadium.
With E-Mart’s investment, a total of 1.38 million square meters out of 1.54 million square meters of land designated for sale has been allocated, including a golf course (1.16 million square meters), waterfront commercial facilities (11,004 square meters), and a second recreational area (83,062 square meters). The total amount recovered so far is estimated at 152.4 billion won.
The remaining land for sale consists of eight sites totaling 202,822 square meters, including lodging facilities 2 (16,093 square meters), neighborhood living facilities 1 (24,092 square meters) and 2 (14,517 square meters), medical tourism facilities (15,554 square meters), golf villages 1 (38,370 square meters) and 2 (51,630 square meters), a complex commercial facility (37,927 square meters), and a rest area (4,639 square meters). Shinhan Asset Trust and Korea Asset Trust are each conducting public auctions for these sites.
Assemblyman Heo stated, “With the opening of a 36-hole golf course, the completion of the Hansang Interchange on the Airport Expressway, and the upcoming opening of the third link bridge connecting Yeongjong and Cheongna, investment by major corporations will further boost land sales. We are actively discussing with the Ministry of Oceans and Fisheries to ensure that development proceeds in line with the originally planned integrated marine leisure tourism concept.”
The plan to utilize state-owned land within the Hansang Dream Island project area is also expected to serve as a catalyst for expanding private investment.
Assemblyman Heo is in discussions with the Ministry of Oceans and Fisheries regarding the proposal by the Incheon Port Development Council to establish a “Seafarer Training Center for the Gyeongin Region” on the ministry-owned education and research site (156,955 square meters).
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