▲ To celebrate the New Year, Kim Jin-yong, Commissioner of the Incheon Free Economic Zone Authority, and Kim Yeon-jung, Director of the Cheongna-Yeongjong Project at the Korea Land and Housing Corporation (LH), met at the construction site for Cheongna International City’s new City Tower project to reiterate their commitment towards bringing the City Tower project back on track. Bird's eye view of the Cheongna City Tower.

To celebrate the New Year, KimJin-yong, Commissioner of the Incheon Free Economic Zone Authority, and KimYeon-jung, Director of the Cheongna-Yeongjong Project at the Korea Land and Housing Corporation (LH), met at the construction site for Cheongna International City’s new City Tower project to reiterate their commitment towards bringing the City Tower project back on track.

Given the massive obstacles threatening to derail the Cheongna City Tower project, this latest meeting between the two partners - the IFEZ Authority and LH - is an encouraging sign that shows the Cheongna City Tower is indeed the first order of business for Incheon and the Korean government.

Commissioner Kim congratulated Director Kim Yeon-jung on being entrusted to lead the project again this year, and shared his thoughts on the progress the Cheongna City Tower has shown so far. He also said that the IFEZ Authority and LH should work in lock-step to solve the myriad of problems at hand and proceed with the project as originally planned. In particular, the Commissioner added that he is well aware of how important the Cheongna City Tower project is, which is something Cheongna’s residents have yearned for a very long time, and will do his absolute best to bring the project back on track as quickly as possible.

The IFEZ Authority is concerned about project delays caused by differences in sharing additional construction costs for the Cheongna City Tower between LH, which commissioned the project, and Cheongna City Tower Co., Ltd., the Special Purpose Corporation (SPC)serving as the developer of the project. A special task force, featuring members of the public, government, and lawmakers, was created to review and resolve issues surrounding LH’s construction of the Tower and the IFEZ Authority’s management/operations linked to the project.