Songdo’s biopharmaceutical production capacity surges

Biopharmaceutical production in Songdo International City’s biotech cluster has been rapidly increasing. According to the Incheon Free Economic Zone Authority, total production capacity is expected to grow from 1.035 million liters last year to 2.14 million liters by 2030. Production capacity in Songdo has risen sharply over the years, from 50,000 liters in 2010 to 330,000 liters in 2015 and 560,000 liters in 2020. The authority also projected that once Lotte Biologics Songdo Plant 1, with an annual capacity of 120,000 liters, is completed at the end of this year, Songdo’s total production capacity will reach 1.155 million liters this year.

Songdo Golden Harbor Park set to open after 5 years

A park in Songdo International City that has remained closed due to disagreements between related agencies is now expected to open. The Golden Harbor Park finished construction in June 2020 on a 180,000-square-meter site near the Incheon Port International Passenger Terminal. The project cost 25 billion won. However, the park has been closed for over five years due to differences between two agencies involved. The two sides have reached an agreement through on-site inspection and mediation by the Board of Audit and Inspection between November and December last year. The Incheon Port Authority plans to reinvest development profits from Golden Harbor into the area in accordance with the Act on Designation and Management of Free Economic Zones.

Ferry passengers drop sharply after Cheongna Sky Bridge opens

Passenger numbers on the ferry route between Woldmido and Yeongjongdo have dropped significantly following the opening of the Cheongna Sky Bridge last month. The Sejong 5 ferry operates between the two islands every hour from 7:30 a.m. to 6:30 p.m., covering the 2.7-kilometer route in about 15 to 20 minutes. According to data submitted by the ferry’s operator, 12,510 passengers used the Sejong 5 between January 5 to February 4. The figure marks a 25.9 percent decrease, or 4,337 fewer passengers, compared to the same period last year.

First phase of West Sea Inter-Korean Peace Road to open in late May

The first phase of the “West Sea Inter-Korean Peace Road,” connecting Yeongjong-do, home to Incheon International Airport, and the border region of Ganghwa-do, will open at the end of May. According to Incheon Metropolitan City, construction of the Yeongjongdo–Sindo section of the highway, which began in 2021, is about 88% complete. Road paving, installation of fall-prevention guardrails, and traffic safety facility work will begin next month to finalize preparations for opening. The Yeongjongdo–Sindo section has two lanes and spans 3.2 kilometers, including a 2.07-kilometer sea bridge. The total project cost 159.7 billion won.

Ongjin-gun to sell former government building 20 years after relocation

Incheon’s Ongjin-gun has decided to sell its former government office building and related site 20 years after relocation. The county plans to submit a public property management plan to the county council this month for approval. The plan consists of selling five buildings and a 6,235-square-meter site located in Sinheung-dong, Jung-gu. If approved, Ongjin-gun will issue a public notice next month for sale through an open competitive bidding process and plans to sign a sales contract in April if a suitable bidder is selected.

Sources: https://news.ifm.kr