According to Yonhap News,

(SEOUL=Yonhap News) Songdo International City of the Incheon Free Economic Zone (IFEZ) will be fostered as a global bio cluster.

The government held the 124th FEZ Committee to deliberate and make resolution on three agenda items including a change to IFEZ Songdo International City High-Tech Industry Cluster Development Plan on July 23.

The Committee approved a change of development plan that contains: expansion of industrial land to advance Songdo into a bio-cluster that co-exists with nature; and creates birds substitution habitats. According to a plan to foster the bio cluster included in the 2nd FEZ Basic Plan (2018-2027), a land usage plan has been changed to allow industrial facility land to expand (909,000㎡ → 984,00㎡) in connection with the existing Songdo 4 and 5 districts.

As a result, Songdo Bio Cluster will be significantly expanded in size from current 920,000㎡ (Songdo 4,5,7 districts) to 2 Million ㎡ in 2030.

In addition, the IFEZ is expected to grow into a global bio cluster as a bio ecosystem will be established with the completion of the value chain ranging from research to production,.

The birds substitution habitats are also allowed to go ahead, which was suggested as a measure to reduce environmental impact of public waters reclamation project in Songdo 11 district.

A change of development plan, which is to foster Mangsang 2,3 districts of Donghae FEZ into a hub of tourism and leisure has been approved as well. Mangsang 2 district will be fostered as a premium integrated resort that connects leisure facilities of premium hotel, art museum, and book cafe, etc., while Mangsang 3 district will be transformed into well-being leisure facilities for all-seasons that bring together marine leisure activities, premium hotel, shopping mall, and facilities for culture and art.

With a change in development plan, the government expects development of Mangsang districts in FEZ will be facilitated, which will serve as a hub of the local tourism industry, leading to revitalization of local economy.

bryoon@yna.co.kr


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Source: Yonhap News (July 23, 2021)