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The government will develop Songdo international City in Incheon as a hub for promising service industries. Last Wednesday, the Ministry of Strategy and Finance briefed South Korean President Park Geun-hye on a basic plan for 2013 that includes a Songdo development plan.
The ministry plans to intensively develop the industries of meeting, incentive, convention and exhibition (MICE), tourism, and research & development in Songdo International City. For this plan, it will establish world-class international hospitals and attract elite foreign universities and global research institutes. It also plans to develop the city as a cluster for cultural performances. The ministry will soon form a joint task force team with the Ministry of Health and Welfare, the Ministry of Trade, Industry and Energy, and the Incheon Free Economic Zone Authority.
“The government has recognized the importance and functionality of Songdo and is welcoming the move. The government’s interest in the city will help accelerate the city’s development,” said an Incheon official.
Source: Yonhap News (Apr. 4, 2013)
** This article was translated from the Korean.