Incheon aims to become Asia's business hub
By Choi Kyong-ae. The decision to select Korea as the site for a new U.N. fund meant a major breakthrough for the Incheon Free Economic Zone (IFEZ) as having such a big name usually helps attract foreign capital.
Board members of the Green Climate Fund said in October last year the fund designed to manage billions of dollars to help developing countries combat climate change will be located in Songdo, Incheon City.
The IFEZ, the country’s first free economic zone, has strived to woo foreign direct investments (FDIs) to transform it into a major business hub of Northeast Asia in terms of knowledge and technology-based business, tourism and services industry in the past 10 years since its opening in 2003. More...