– Incheon Economic Administration, Incheon Urban Corporation, Korea Overseas INfrastructure & Urban Development Corporation (KIND) signed a business agreement for mutual cooperation
○ Incheon Free Economic Zone Authority, Incheon Metropolitan City Corporation (iH), and Korea Overseas INfrastructure & Urban Development Corporation (KIND) (KIND) joined hands to support Korean companies' advancement into overseas urban development projects.
○ Incheon Free Economic Zone Authority signed a 'Mutual Cooperation Agreement on Overseas Urban Development Support' with these organizations at G Tower in Songdo International City on the 1st. The signing ceremony was attended by officials including Lee Won-jae, the head of the Incheon Economic Administration, Lee Seung-woo, iH president, and Lee Kang-hoon, KIND president.
○ KIND, a public institution under the Ministry of Land, Infrastructure, and Transport, was launched in June 2018 to support domestic companies entering the overseas investment development project market in accordance with the Overseas Construction Promotion Act. It is an institution invested by the government, Korea Land and Housing Corporation (LH) and Korea Export-Import Bank, and its role is expanding by operating various overseas urban development support systems such as K-City Network and Economic Innovation Partnership Program in addition to equity investment.
○ The agreement was signed to establish an organic business cooperation system in relation to the overseas market entry of domestic companies for overseas investment development smart city and urban development projects. This agreement with the two organizations was promoted by cooperation in laying the groundwork for Korean companies to advance into overseas urban development, such as supporting cities from countries such as the Philippines and Mongolia to apply for the K-City Network program recently implemented by KIND. did it Specifically, △Incheon Economic Administration shares its experience in developing free economic zones and attracting investment; △iH provides know-how and professional manpower support for urban development projects; They each provide financial support.
○ Director Lee Won-jae of the Incheon Free Economic Zone Authority said, “This agreement was signed to move forward to the practical cooperation stage in relation to the recent successive Incheon Free Economic Zone (IFEZ) development experience and smart city benchmarking. As a model, we will do our best to support domestic companies entering overseas urban development projects such as smart cities as a brand.”