Cheongna International City
Accelerating Investment Attraction
Good news is being delivered one after another from Cheongna International City.
Although there is still work to be done, it is only to improve the future of the city.
Through a theme of development differentiated from Songdo International City,
Cheongna International City is growing into a global financial center.
Let’s take a look at the present state of the city.
- Hana Global Campus, Hana Financial Group
- A bird’s eye view of R&D Center, HYUNDAI MOVEX
Vitalized Business Expected via Continuous Investments
Cheongna International City has been actively evolving recently. It is drawing attention with the establishment of new business infrastructure and increasing investment.
On May 4, the training facilities of Hana Financial Group, “Hana Global Campus” opened. The campus serves as a space for fostering and educating global and digital talents in step with global trends. International employees of Hana Financial Group from 183 global networks in 24 countries all over the world, including Korea, are trained here. Starting with the Integrated Data Center in June 2017, Hana Global Campus has been built as part of Hana Dream Town, which the financial group is building in Cheongna International City. HYUNDAI MOVEX’s R&D Center for Logistics Automation Systems, a subsidiary of Hyundai Group, also broke ground in March. It is scheduled to be completed by this October in Incheon High-tech Park (IHP) Industrial Complex.
The construction is expected to provide momentum for drawing more business partners to Cheongna International City. The shopping mall complex and Cheongna City Tower that will become the landmark for Cheongna International City are accelerating development. The City Tower, which will be built in Central Lake Park, will be a 453 m skyscraper tower with various facilities, such as an observatory, lounge, restaurants, cafes, entertainment, exhibitions, and activity zones. Cheongna City Tower is also projected to bring about change in the transportation of the city. According to the IFEZ, local transportation conditions will improve and visitors will increase when the extended Subway Line No. 7 starts operation and City Tower Station opens in 2026. Shinsegae’s construction project for a shopping mall complex, Starfield Cheongna, which is planned to open in 2022, is also drawing attention.
Approximately 40% of the entire space will become a theme park in which visitors can enjoy virtual reality and art climbing, thus a complex for leisure and entertainment.
In April 2019, the IFEZ and ACE Construction signed an agreement on mutual cooperation for the first Knowledge Industry Center in Cheongna International City. Based on this agreement, ACE Construction will build the Knowledge Industry Center in the site of IHP Industrial Complex by 2021 and more than 460 cutting-edge technology enterprises will move to the center. It is expected that approximately 2,600 jobs will be created.
- The Integrated Data Center of Hana Financial Group and Cheongna International City Station
- A bird’s eye view of Knowledge Industrial Center, ACE Construction
- A bird’s eye view of Starfield Cheongna
Diversification of Transportation Infrastructure for Citizens’ Convenience
A private-public consortium will be operated to discuss and share the progress of the construction of the 3rd Yeonyukgyo Bridge that connects an island with land. The project has long been a mission for Cheongna and Yeongjong International Cities. The 3rd Yeonyukgyo Bridge is 4.66 km long over the sea that connects Cheongna and Yeongjong. There have been difficulties in implementing the project, but the IFEZ offered a ray of hope by deciding to pay the loss compensation in 2017. The IFEZ plans to actively implement the project by continuously sharing progress and gleaning opinions via the private-public consortium. When the third bridge connecting downtown Incheon with Yeongjongdo island is completed, citizens of Cheongna and Yeongjong International Cities will be able to use the bridge for free.
The convenience of using the public transportation in Cheongna and Yeongjong International Cities will also be improved. To minimize any inconvenience of citizens of the three IFEZ districts in commuting to Seoul, Incheon Metropolitan City has requested for five new bus lines to be added to the Metropolitan Transport Commission under the Ministry of Land, Infrastructure, and Transport (MOLIT). For Cheongna International City, nine buses are requested to travel on the course: Cheongna 5-Danji – Hanil Verace – Cheongna IC – Nonhyeon Station – Woosung Apt – Yangjae Station. For Yeongjong International City, 12 buses are requested to travel on the course: Unseo Station – Kumho Eoulim 2-Cha – Woomi Lynn 2-Danji – Geumsan IC – Olympic-daero – Gangnam Station. Incheon Metropolitan City Government expects that when this agenda is submitted to the Metropolitan Transportation Commission under the MOLIT, the project will be put on for public bidding around November 2019.
In addition, the Bus Rapid Transit (BRT) between Cheongna and Gangseo, Seoul, will be more convenient. The Metropolitan Transportation Commission under the MOLIT is thoroughly investigating and implementing mid- and long-term tasks based on precise research and analysis of the appropriateness and user convenience regarding the status of the signal system, bus stops, designated vehicles, and transit facilities of the BRT lines nationwide, including Cheongna International City. In April, four city tour bus lines were launched that link Ganghwado, a representative tourism resource of Incheon, with Cheongna International City, which is expected to supply momentum to boost local tourism.
- The 3rd Yeonyukgyo Bridge
- Incheon Robot Land