An Agenda for The Incheon Free Economic Zone: Developing Quad Ports and Quad Parks*

Jun, Il-Soo

doi:10.24006/jilt.2003.1.1.85

J. Int. Logist. Trade 2003; 1(1):85-105

pISSN: 1738-2122, eISSN: 2508-7592

DOI: https://doi.org/10.24006/jilt.2003.1.1.85

ARTICLE

An Agenda for The Incheon Free Economic Zone: Developing Quad Ports and Quad Parks*

Il-Soo Jun ^**

Author Information & Copyright ▼

¹University of Incheon

^**Corresponding author: Professor, Dean, Graduate School of Logistics Studies for Northeast Asia, The University of Incheon, Incheon, Korea

© Copyright 2003 Jungseok Research Institute of International Logistics and Trade. This is an Open-Access article distributed under the terms of the Creative Commons Attribution Non-Commercial License (http://creativecommons.org/licenses/by-nc/4.0/) which permits unrestricted non-commercial use, distribution, and reproduction in any medium, provided the original work is properly cited.

Published Online: Dec 31, 2003

ABSTRACT

The Korean government designated three districts in the Incheon Metropolitan City as the first “Free Economic Zone” in August 2003. This paper discusses recent developments of and challenges to the Incheon FEZ, and proposes future tasks to accomplish Korea’s goal to be a business and logistics hub in Northeast Asia. The master plan of the Incheon FEZ encompasses all elements of “Quad Ports and Quad Parks” in major development projects in three districts. Developing “Quad Ports and Quad Parks” in the newly introduced Incheon FEZ is expected to take on critical significance in the next decades by completely transforming the Korean economy and society. However, the success of the Incheon FEZ relies on massive reforms, which requires major and fundamental changes in both mindsets and strategies. First, the Korean government must develop its full potential by maximizing the strengths of the Capital Region. Second, the Incheon International Airport must be a principal driver of economic growth by improving accessibility to regional and global markets. Third, the New Incheon port should be developed in time for the Incheon FEZ to maximize its potential.