Incheon's Yeongjong biotech complex development kicks off, targeting global hub status

Development of a large-scale biotech specialized complex in Incheon's Yeongjong International City is moving into full swing, with a completion target of 2028.

The Incheon Housing & Urban Corporation (iH) has launched procedures to revise the development plan for the Phase 3 special planning zone of Yeongjong Haneul City, a move expected to accelerate the buildout of biotech industry infrastructure as a future growth engine.

According to iH on Tuesday, the Yeongjong biotech complex project will develop a specialized biotech zone spanning approximately 1.48 million square meters within the Phase 3 special planning zone of Yeongjong Haneul City.

The core goal is to expand Incheon's biotech industry growth axis alongside the Songdo Bio Cluster and Namdong National Industrial Complex, in alignment with the government's policy to strengthen the competitiveness of the biotech sector.

Since the government designated the site as a biotech specialized complex in June last year, iH and co-developer Korea Land and Housing Corporation (LH) have conducted a preliminary concept study to define the complex's scale and target industries. With those findings now incorporated into the free economic zone development plan, the project has entered the formal administrative process.

The revised development plan will be finalized after consultations among relevant departments at the Incheon Free Economic Zone Authority, followed by a preliminary review by the Ministry of Trade, Industry and Energy and deliberation by the Free Economic Zone Committee.

iH plans to complete an implementation plan — covering environmental, traffic and energy impact assessments — by the end of this year, begin construction of the complex in 2028, and launch land pre-sales from 2029.

Once the Yeongjong biotech specialized complex is established, Yeongjong Haneul City is expected to evolve into a multi-industry city that adds advanced biotech to its existing role as an airport support city and hub for aviation and logistics.

The expansion of research and development and production facilities, along with an influx of corporate tenants, is also expected to boost the local economy and create jobs.

"We will continue close cooperation with the Incheon Free Economic Zone Authority, LH and other relevant agencies to push forward development of the remaining special planning zones in Phase 3 of Yeongjong Haneul City and find ways to utilize unsold land," iH President Ryu Yun-gi said. "We will accelerate the project so that the Yeongjong area can establish itself as a future hub for advanced industries."