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Incheon Port Authority Signs Cooperation Agreement with Incheon Free Economic Zone
Cooperation for Development of Incheon Port and IFEZ
Incheon Port Authority Signs Cooperation Agreement with Incheon Free Economic Zone
  • By Jung Suk-yee
  • February 20, 2019, 19:19
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IPA President Nam Bong-hyun (third from right) and IFEZ Commissioner Kim Jin-yong (fourth from right) pose for a photo along with officials of the two agencies after signing a cooperation agreement on Feb. 20.

Inchon Port Authority announced on Feb. 20 that it has signed an agreement with Incheon Free Economic Zone Authority to establish a cooperative relationship.

The two agencies have pledged to form a consultative body to jointly address pending issues at Incheon Port and the Incheon Free Economic Zone (IFEZ), and to strengthen the sustainable development of the two institutions.

Some 20 officials from the two organizations, including IPA President Nam Bong-hyeon and IFEZ Commissioner Kim Jin-yong, attended the ceremony, which was held aboard the Econnuri, the first LNG-fueled vessel in Asia operated by the IPA.

Under the agreement, the two agencies will cooperate in building the port infrastructure for the creation of a maritime tourism-oriented city, attracting investment for the Golden Harbor project, and discovering joint projects and laying the infrastructure for the promotion of marine tourism.

The Golden Harbor project is about building a tourism complex featuring a resort hotel, condominiums, a shopping mall, a waterpark, a marine center, and a convention center, in the northern area of the Songdo International Business District. The harbor will also feature a new international passenger terminal and a pier with eight berths.

To facilitate cooperation, the two agencies will form a working-level consultative body led by IPA vice president Hong Kyung-sun and IFEZ director of planning and coordination Yoo Moon-ok. Through the consultative body, the two sides will discuss pending issues on a regular basis.

“Communication and cooperation among relevant organizations in Incheon are important to address major issues facing Incheon Port and the IFEZ,” said IPA President Nam. “I hope the agreement will help both agencies strengthen their competitiveness and improve their sustainability.”