Vantaa Aviapolis SeminarSeptember 1, 2017
Tom MurcottGale International
Site Development Begins Completion of Dikes
Completion of 1st Terminal
Commence Runway Dev
ICN Grand Opening Second Stage Construction
1992 1994 1996
2000 2001 2008
Incheon International Airport (ICN) Development Timeline
Phase 1: 1992-200111-million sqm LandUS$ 5-billion
Phase 2: 2002-20089.5-million sqm LandUS$ 5-billion
Phase 3: 2009-20171.1-million sqm LandUS$ 4.4-billion
ICN Completed Projects -- YeongJong Island
Since 2001 US$ 3.6 Billion Airport City Investment
Area Size(000㎡)
Investment(US$mil.)
Status
IBC-I 1st Phase 165 598 ▪ Hotel (3), Office (4), Hospital (1), Retail (1)
2nd Phase 330 1,399 ▪ Paradise City Construction (Open in ‘17.4)
IBC-III 2,674 1,393 ▪ Inspire Integrated Resort (Open in ’20.)
South Water Basin 151 74 ▪Motorboat Racing, Hotel (1)
Others 3,931 192 ▪ Golf Course, BMW Driving Center
Total 7,251 3,656
Motorboat Racing BMW Driving CenterParadise City Resort
Incheon International Airport (ICN) Development Timeline
ICN PAX Creation 2.9 Million/year
Transfer Pax Creation : 550 thousand/yr
Revenue Creation: US$127-million/yr
Aeronautical Revenue US$80-million/yr
Job Creation 18,000/yr (Yeongjong Only)
Airport Amenity Benefits
Paradise City Resort and Casino
Inspire Integrated Resort
Korea Free Economic Zones
Planned Population
Area
265,000
53.3 km2 (13,170 acres)
Greater Songdo(International Business Complex)
Seoul
Incheon
Seoul Yeouido
Seoul Gangnam
Incheon Free Economic Zone
2003: Created as Korea’s 1st FEZ
650,000: Planned Population
36.4 Trillion KRW ($35 Billion USD): Public Infrastructure Investment In Greater Songdo
Yeongjong(Airport, Tourism & Logistics)
Planned Population
Area
295,000
98.4 km2 (24,315 acres)
Cheongna(Sports & Leisure Complex)
Planned Population
Area
90,000
17.8 km2 (4,398 acres)
Songdo IBD
Planned Population
Area
75,000
5.9 km2 (1,500 acres)
Incheon International Airport
Songdo IBD: Placemaking in the 21st Century
Songdo 2001
History of Songdo IBDGenesis of Incheon Free Economic Zone
2004
2005
2002
Songdo 2016
History of Songdo IBDGenesis of Incheon Free Economic Zone
Partnership to-date: Songdo IBD
History of Songdo IBDProcess of City Development
Vision Planning Design Build
International Team Behind Songdo IBD
Songdo IBD Overview
• Master Planned International CityOffice Space: 3.7 M m2
Residential: 3.3 M m2
Retail: 1.0 M m2
Hotel: 0.5 M m2
Public Space: 1.0 M m2
Total Building Area (GFA): 9.5 M m2
• LEED Certified; designed to be one of the world’s most sustainable cities –LEED = 2.1 M m2
• 1st Cisco Smart+Connected Community
• 100+ buildings completed or under construction = 5.8 M m2
2
1
3
10
11
45
7
6
8
9
History of Songdo IBD
2001 Gale International invited to tour Project Site by City of Incheon
2002 Joint venture formed with POSCO Engineering and Construction
2003 Master plan completed
2004 Songdo Development groundbreaking
2009 Songdo Convensia opens. Phase I commercial and residential projects open
2010 Chadwick International School, Jack Nicklaus Golf Club Korea open
2012 Selected as host city of GCF Secretariat
2014 Residential units sold in Songdo IBD footprint passes 14,000 mark
2015 Surpasses 5.8 million sqm of GFA (residential, commercial, civic)
Host city of PGA Tour 2015 Presidents Cup
2016 Greater Songdo pop. surpasses 100,000
Investors/Occupiers in Greater Songdo
Investment Environment
Sustainable Infrastructure – Waste, Water, Energy
Pneumatic waste removal system
District co-generation plant Seawater canal
Chadwick InternationalSchool Songdo
Sheraton Incheon
Sustainable Community – LEED Development
Songdo ConvensiA
Xi HarborviewNEATT Tower(LEED Silver)
The # Central Park II
The# HarborviewThe # Central Park I
First LEED Certified Exhibit Hall in Asia
First LEED Certified Residential Tower in Korea
First LEED Certified Hotel in Korea
First LEED Certified School in Korea
LEED-Neighborhood Development approval in process
22 million sf -- 117 LEED-certified buildings
Int’l Business Sq.(LEED Gold)
Jack Nicklaus Golf Club Korea Clubhouse
Infrastructure, Technology, and Sustainability
Innovation Ecosystem: U.Life Solutions
UrbanTech: City-wide Integrated Operations Center, Connected Transportation, Masterbell Services
Innovation Ecosystem: Technology Partners
SparkLabs IOT Accelerator Nov. 2014 Partnership Agreement to develop
“smart city” solutions in Songdo IBD Development of “Internet of Things”
ecosystem in Songdo Songdo provides ideal environment in which to
design, develop, test, and implement new IOT solutions
SparkLabs: well-known tech accelerator with growing roster of successful start-ups.
Higher Education Platform: Universities in IFEZ
Incheon Global CampusCompleted in 2012
Campus GFA: 650,850 ㎡ (7 million SF)
Number of Schools: 10 (Int’l Campuses of Foreign Universities;
Undergraduate & Graduate Schools)
10,000-12,000 students expected
Schools Open & OperatingState University of New York (SUNY + FIT)
George Mason University
University of Utah
Ghent Univ. (Belgium)
Multi-Complex for all IGC Universities Common Library
Sports and Aquatic Complex
Faculty & Student Housing
Theater
Student Activity Center
21,000 Students in Domestic Universities Yonesi Songdo Campus
University of Incheon
Catholic University of Korea
Inha University
Hongik University
Hankuk University
Biopharma & Biotech in IFEZ
Dedicated Bio Cluster in SongdoSamsung/Quintiles JV announced 2011
Samsung Bioepis
Two manufacturing facilities ($1.1 billion investment)
Third facility underway ($730 million investment)
IFEZ spurred growth with tax and land incentives for Korea &
International JV’s in pharma sector
Korea’s Advantages for Pharma ManufacturingHighly educated workforce
Global recognition of clinical trial results
Developed IT Infrastructure
Air and sea cargo hub: Incheon International Airport and seaport
Unparalleled live, work, learn, play environment for skilled workers
and families
Dramatic Growth of Biopharma/BiotechKorea’s biopharma sector production growth: 9%/yr.
2014-2015 annual exports: $589m -> $809m 37% increase
Songdo projected to be largest exporter of biosimilars by 2019
250,000 new industry sector jobs.
Songdo Central Park
• 101-acre oasis in the heart of Songdo IBD
• Modeled on New York’s Central Park
• Hosts public events benefiting Songdo and greater Incheon communities
• a navigable seawater canal system with water taxis and water sports activities.
• Korean cultural and architectural elements.
• Daily destination for air and cruise ship passengers
Songdo Central Park
Regional and Global Awareness
• Jack Nicklaus Golf Club Korea – 2015 Presidents Cup
– Multiple Senior PGA Events
– Korean & Asian Tour Events
– 2018 UL International Crown (LPGA)
• Pop Culture and Advertising – PSY Gangnam Style
– Multiple Ad Campaigns
– K-Drama Location Tours
• PR and Global Press Coverage– International TV/Online/Web
– Advent of Social Media
– International model for smart, sustainable
• Pro and Con
Northeast Asia Trade TowerQuality of Life Is Crucial
Places and spaces are mere vessels.
People make a city.
The human experience powers
all great urban centers.
Songdo Today: A Thriving City
Thank You
Vantaa Aviapolis SeminarSeptember 1, 2017
Tom MurcottGale International