Incheon, a port city in South Korea, is unveiling a series of projects aimed at attracting foreign businesses for global expansion. The city government recently hosted a roundtable meeting with foreign chambers of commerce to introduce its business policies and gather feedback on key projects.
Among the projects is the New Hong Kong City initiative, which aims to position Incheon as a global hub and create an optimal business environment to attract investments. Incheon already houses the world’s second and third semiconductor post-process companies and has a strong presence in the biotechnology industry. Leveraging these strengths, the city plans to become a hub for semiconductor post-processing and a center for biotechnology.
Another focus of Incheon’s projects is the establishment of a sustainable RE100 special zone, which aims to expand renewable energy sources and nurture green industries. The city is committed to leading the way toward global carbon neutrality and promoting environmentally friendly initiatives.
Incheon is also keen to solidify its position as a world-class logistics center. It currently ranks as the world’s second-largest aviation logistics hub and possesses cutting-edge port facilities. By integrating the marine and aviation industries and expanding value logistics, Incheon aims to further enhance its logistics capabilities.
The New Hong Kong City project also entails creating a global urban space. For instance, the city recently opened the Overseas Korean Agency, which serves as a connection point for the country’s 7.5 million overseas Koreans. Incheon also plans to host the APEC 2025 meeting and attract other international events to showcase its capabilities.
Additionally, Incheon is determined to revitalize the Jemulpo area, a historic port that played a crucial role in Korea’s modernization and industrialization. By improving residential conditions, attracting new residents, and upgrading cultural and tourist facilities like Wolmido Island, Incheon aims to transform Jemulpo into a vibrant convergence point for culture and tourism.
These projects represent Incheon’s commitment to attracting foreign businesses and positioning itself as one of the world’s top 10 cities. The city government believes that by providing an attractive business environment, fostering sustainable practices, and investing in key industries, Incheon can achieve its goals and contribute to the country’s overall growth.