Host of the 2009 World City Expo and 2014 Asian Games, port city Incheon is gearing up to take its place in the league of international hubs. Julian Tan delivers an update on this work-in-progress.
Someday, when Seoul’s little sister, Incheon reaches its potential, public relations executive Kim Heejung can brag about having been a pioneer.
An Incheon resident since April this year, Kim had to exchange the trendy life in Seoul for the convenience of being nearer her office. “Travelling from Seoul to Incheon takes an hour by car, bus and subway,” she says. “I can get everything I need in Incheon, although Seoul has a wider variety of goods and services.”
For now, that is. Even the former Seoulite isn’t immune to the energy generated by the drive of Incheon’s master planner, Incheon Free Economic Zone (IFEZ) Authority to transform the unassuming port city into a booming hub. “Something big is happening,” Kim declares. “Construction projects and events are taking place all the time.”
Known in the past by various names such as Michuhol, Soseong-hyeon and Inju, until settling on its present title in 1949, Incheon was already an established entrepot in the 17th century with a population of 4,700. That number has increased to 2.6 million, occupying an area of 986sqkm classified by the United Nations as a “sustainable development city”.
There are several factors going for this satellite city. Following the IFEZ Authority’s master plan, construction started in 2003 – the same year the Korean central government designated Incheon a special economic zone –?and is being conducted in three phases, the first to be completed by 2009, the second by 2014 and finally, 2020. Marked for expansion are the Songdo and Cheongna areas on the mainland near
Seoul and the island of Yeongjong, site of Incheon International Airport – which replaced the much-used Gimpo Airport – and two hotels, Hyatt Regency and Best Western Premier.
Fast-forward to 2010, Yeongjong’s infrastructure will by then be incredibly enhanced with an international financial district, automobile factory complex, entertainment precinct and sports parks among others. On the mainland adjacent to Yeongjong, 5,325 hectares of Songdo will be dedicated to industries involved in information and communications technology and biotechnology at
the projected sum of US$24.8 billion. The 1,778-hectare Cheongna will feature residential blocks, entertainment and commercial developments to be built at US$1.5 million. GM Daewoo is completing an R&D facility by year end at the Incheon High-Tech Park.
Like any work-in-progress, it takes a stretch of the imagination to envision Incheon transformed into a full-fledged metropolis. The casual visitor now only sees a proliferation of industrial buildings and disgorging uniformed employees at lunchtime eager for their fix of the country’s staple, bulgogi, the traditional Korean meat dish. At present, there is no Gangnam (Seoul’s version of Ginza), nor any upmarket malls or even a financial district, the usual urban hallmarks. But these will come.
IFEZ Authority spokesperson Park Youngsik says: “The total infrastructure investment (in the IFEZ) amounts to approximately US$15 billion. When complete, IFEZ will provide the best convenience, accessibility and amenities for business people.
“IFEZ is in the middle of many prestigious projects in terms of land development and the construction of infrastructure and business and residential facilities. By 2014, the world will witness the birth of a new global business centre.” To date, the roster of investors include Samsung, Hyundai, Yonsei University, steel producer POSCO, international property developers Gale International and Portman Holdings, German logistics company Schenker, Morgan Stanley, DHL and biopharmaceutical firm VaxGen.
Projects in the pipeline include the Songdo Conventia (Convention Centre), which is expected to begin operations in October 2009 and offer 8,390sqm of exhibition space for up to 2,000 people and 23 meeting rooms totalling 2,286sqm for 30 to 500; a Jack Nicklaus-designed, 77,250-square-metre golf club with 18 holes and villas completing in August 2009; residential and commercial buildings planned for January 2009 completion; and the 65-storey Northeast Asia Trade Tower comprising offices and a 204-room hotel in March 2010. There will also be an English-medium international school ready for the autumn 2008 intake at kindergarten to high-school entry levels. A 151-storey Incheon Twin Towers has also been proposed and, once ready, will join the pantheon of the world’s tallest buildings.
Accessibility to Incheon will improve when the 12.3-kilometre, US$1.6 billion Incheon Bridge comes onstream in 2009, linking Incheon airport and the Songdo area, cutting down travel time from the current one hour to 15 minutes, as well as a 6.5-kilometre subway extension linking downtown Incheon and Songdo that connects to the Seoul subway and the train service between the airport and downtown Seoul.
“IFEZ is a built-from-scratch city based on a next-generation paradigm of the modern digital city or U-City,” Park says.
“A ubiquitous wireless network system will allow the luxury of connectivity 24/7, anytime and anywhere. Yet, while equipping itself with state-of-the-art technology, IFEZ will provide an eco-friendly living environment including more than 30 percent green space. Thus, you will feel like being in the middle of nature.”
Outstanding landmarks, in the mode of the canals of Italy and Opera House of Sydney, as well as futuristic skyscrapers and traditional Korean structures will shape the landscape. In a bid to rank among the top five global air hubs – part of its Vision 2010 programme – the Incheon International Airport Corporation (IIAC) announced it would establish a “fashion island” and water park, two of its several “Air City” projects proposed for the Yeongjong area. A collaboration between IIAC and the Fédération Française du Prêt à Porter Féminin, the 65-hectare complex next to the airport, will feature a fashion convention centre, fashion academy, shopping mall and other facilities, totalling about US$1 billion. Construction starts next year and finishes in 2014. The water park has been conceptualised as a venue for motor-boat racing and other leisure activities including a Formula 1 power boat event. The first phase of development is estimated at US$2.5 million and is due to complete by 2010.
Park concludes: “IFEZ will become a very promising business city. At this development stage, many features are being added and improved continuously. Keeping this in mind, it will spare no effort to advance and see progress.”
Incheon is wasting no time to raise its international profile, preparing to host the 2009 World City Expo and 2014 Asian Games. With the anticipated spike in arrivals comes a greater demand for hotel rooms. Since Incheon has only 829 rooms, Seoul’s hotels are expected to benefit, a fact welcomed by the industry.
“People coming for big events like the 2014 Asian Games will book a room in Seoul because Incheon doesn’t have enough five-star hotels,” says Park Jae-Hong, deputy general manager of 1,349-room Lotte Hotel Seoul.“The distance between Seoul and Incheon is not so far, taking just one hour to commute.?Transportation will not pose any problems. We (Lotte Hotel) can provide a shuttle service between Seoul and Incheon.”
JW Marriott Seoul general manager, Robert Stark, says: “Being sister cities, Seoul and Incheon will benefit when any large event comes to town. Seoul is known as a shopping mecca and people will build time into their schedule to satisfy their shopping urges.
“Seoul will also benefit from the spillover of additional room nights, along with visitors coming for its cosmopolitan lifestyle, trendy restaurants and culture and heritage.”
As one of Incheon’s first residents, Hyatt Regency was faced with the challenge of attracting Seoulites and foreign visitors to try its facilities. Chic interiors and the innovative “8” multi-restaurant concept, a cool bar and raft of meeting venues did the trick. Honeymooners and corporate event participants have since been providing regular business, besides transit passengers.
The Golden Gate Casino, which opened in 2005 – albeit only to international guests – added another reason to stay.
Says Hyatt Regency general manager, Kai Speth: “Incheon is a major port city in Korea and occupies a strategically important position for trade and cultural exchange, with air and sea routes connecting Korea to the rest of the world.”
Speth also mentions the International Business Centre – 165,000sqm of space south of Incheon’s passenger terminal that is up for hotel, entertainment and office development. The facility, which is currently home to Korean Airlines, Samsung and Daewoo Construction, acts as a stimulus for international trade activities and investments.
Already enjoying its own share of human traffic, Best Western Premier reports an annual occupancy of 85.4 percent, with weekend occupancy running between 90 and 95 percent, according to its president and senior executive vice-president, Choi Hack-Woong.
WHO'S WHO IN INCHEON
Incheon Free Economic Zone
eng.ifez.go.kr
Incheon Metropolitan City
english.incheon.go.kr
Incheon International Airport
www.airport.or.kr/eng/home.jsp
Asian Games Incheon 2014
english.incheon2014ag.org
WHERE TO STAY
Best Western Premier Incheon Airport Hotel
www.airporthotel.co.kr/vol2/indexe.asp
This four-star, 306-room hotel provides business traveller essentials like two restaurants (European and Korean, and Japanese), a gym, 24-hour business centre and in-room internet.
Hyatt Regency Incheon
incheon.regency.hyatt.com
Over 3,300sqm of meeting space including a pillarless grand ballroom, all-day dining, indoor pool, gym and casino are just some of the perks offered by the five-star, 523-room property.
INCHEON IN NUMBERS
- Development period: between 2003 and 2020 (three phases to complete in 2009, 2014 and 2020 respectively)
- Projected infrastructure investment: US$15 billion
- Area size: 986.45sqkm; the Incheon Free Economic Zone comprises Yeongjong, Cheongna and Songdo with a total area size of 209sqkm
- Population: Over 2.6 million
