Yeongjong and Cheongna international cities are emerging as promising markets for Korea’s content industry. With this in mind, the Incheon Free Economic Zone Authority (IFEZA) plans to prop the areas up as a “video and culture complex cluster,” dubbed K-Con Land.

The establishment of K-Con Land is a policy initiative that lines up with the government’s strategy to “become one of the four global cultural powerhouses through K-content.” In June 2024, the Office for Government Policy Coordination (OPC) announced a strategy to establish a “K-content cultural multiplex”—a centralized hub for content production, distribution, and consumption—by attracting businesses, universities, and research institutions. By 2035, the government plans to propel the complex ahead as a leading K-content attraction featuring content academies, creation and entrepreneurship centers, video-production centers, museums, and festivals.

For the K-Con Land project, the IFEZA is considering four areas in Yeongjong, Yongyu, and Muui, along with two sites in Cheongna, all within the airport economic zone. This area is supported by various cultural and performance facilities, such as Inspire Arena in Yeongjong, Cheongna Starfield Multi-stadium (in planning), Paradise City, and the BMW Driving Center, all centered around Incheon International Airport.

Another strength of IFEZ is that it is home to educational institutions that can nurture skilled talent. The University of Utah, within Songdo’s Incheon Global Campus (IGC), offers programs in both game and film studies. Plans are also underway for the Mannes School of Music to join the five foreign universities already located within IGC. In addition, there are discussions to attract the Vancouver Film School to Cheongna.

Hollywood’s video and media companies based in Los Angeles are also showing great interest in Incheon. Earlier this year, Incheon Mayor Yoo Jeong-bok signed MOUs with representatives from four global video and media companies during his business trip to the U.S. to promote K-content. The companies that signed the MOUs have expressed their intention to participate in the creation of K-Con Land.

In particular, the MBS Group’s letter of intent (LOI) to engage in IFEZ’s content-related projects is a testament to the region’s excellent infrastructure. Headquartered in California, the MBS Group is a leading global studio developer and operator, providing production and studio-rental services and offering production support to top content creators worldwide. Its studio assets are reportedly valued at over USD 7.5 billion.

Global financial investment firm Ametrust has also expressed its intention to invest, submitting a letter of intent to commit USD 2 billion to cultural industry projects within IFEZ and to new development initiatives, including the plans for the southern part of Ganghwa.

Once K-Con Land is firmly on track, it is expected to attract 50 million visitors annually and to generate approximately KRW 10 trillion in cultural content exports. It is also expected to attract 100 related companies and lead to the creation of 50,000 jobs.

Invest Korea met with IFEZ Commissioner Yoon Won-seok, who said, “We will strengthen our position as the center of K-content industry production and consumption.”

The Incheon Free Economic Zone Authority (IFEZA), which achieved USD 655 million in foreign direct investment (FDI) last year, despite uncertain internal and external circumstances, will continue its growth this year by attracting investments in core strategic industries and innovating the industrial ecosystem.

Commissioner Yoon said, “IFEZ has been pursuing quantitative growth driven by industrial development,” and added, “Starting this year, we plan to change our structure by shifting directions from attracting investment to innovative growth.”

He lays out the following key policy initiatives for this year: 1) building an industry ecosystem for innovative growth to become a top-tier metropolis, 2) getting a foothold to become one of the top 10 global cities by attracting investments in core strategic industries, 3) building a sustainable free economic zone, and 4) making a city that brings happiness to its citizens.

In particular, Yoon aims to succeed in designating an additional free zone in the southern part of Ganghwa in order to ensure the sustainability of IFEZ, which boasts a development rate of nearly 90%.

Speaking about this development, Yoon said, “The southern part of Ganghwa has all the factors needed for successful development of a free economic zone. It is close to Incheon International Airport and Incheon Port, and it is highly competitive because it can supply large sites for mixed-use development at affordable prices.”

Yoon plans to move forward with scheduled major development projects, which include the construction of a landmark in Songdo 6·8 District, the creation of a K-content-based K-CON Land, and the construction of Songdo International City Waterfront. “We plan to implement the Destination Incheon strategy to attract cutting-edge global companies In line with the IFEZA’s goal of becoming a ‘global business innovation hub,’” he said.