Incheon to Become First-class City
On Feb. 20, the Incheon Free Economic Zone (IFEZ) announced the inauguration of Yoon Won-seok, the former executive vice president of the Economic and Trade Cooperation at the Korea Trade-Investment Promotion Agency (KOTRA), as its 8th Commissioner. The position of Commissioner of the Incheon Free Economic Zone is an open-type senior executive role responsible for overseeing the development of the Incheon Economic Free Zone and its surrounding areas, including Songdo, Cheongna, and Yeongjong International City, as well as attracting domestic and international investment.
Yoon, the new Commissioner, graduated from Sungkyunkwan University and completed his graduate studies at Seoul National University, where he also earned a Ph.D. in Business Administration. Since joining KOTRA in 1986, Yoon has held key positions including trade director in Vancouver, trade director in Busan, director of the Los Angeles KBC Center, and director of planning and coordination, before being promoted to an executive role as the head of economic and trade cooperation. He is an expert in the fields of industry, trade, and investment attraction, having supported the export and overseas expansion of Korean companies in the United States and Canada during his tenure at KOTRA. He facilitated trade and investment cooperation between global and domestic companies, leading to numerous M&As and attracting foreign direct investment (FDI). Later, as president of overseas business at Hancom Group, he achieved notable success in expanding into the Fourth Industrial Revolution sector abroad.
For the next three years, Commissioner Yoon will focus on attracting investment in key strategic industries such as biotech and healthcare, tourism and leisure, and advanced industries, under the goal of “leading the realization of Incheon as a world-class city.” He also plans to attract prestigious foreign educational institutions and domestic universities, create a smart city innovation ecosystem, and push for the designation of additional free economic zones within Incheon.
Commissioner Yoon stated, “I will spare no effort in making Incheon a dynamic global business hub and a first-class city with the world’s highest global competitiveness.”