IFEZEng IV 1

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Information about IFEZEng IV 1
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Published on April 7, 2008

Author: bruce

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Slide1:  IFEZ The New Address for Your Business Slide2:  CONTENTS Growing Importance of Northeast Asia Competitiveness of Incheon Advantages of IFEZ Development Concept Investment Update IFEZ Authority Appendix: Incentives Slide3:  1. Growing Importance of Northeast Asia “It’s location, location, location to be an international super-hub. The new city–within–a–city will be a touchstone for surrounding development and for Northeast Asia.” Stan C Gale, The Chairman, The Gale Company Index IFEZ Growing Importance of Northeast Asia:  Russia Northeast Asia is rising to become a global trading bloc to rival Europe and North America. China Japan South Korea 1/3 of world population 1/3 of world GDP by 2010 World’s No.1 manufacturing site World’s No.1 growing market World’s 2nd largest GDP World’s 3rd largest source of natural resources Growing Importance of Northeast Asia Index IFEZ World’s 12th largest GDP Growing Importance of Northeast Asia:  Incheon Hebei Shandong Liaoning Jilin Heilongjian 11% of China’s GDP 9% of China’s Population 26% of China’s GDP 18% of China’s Population Growing Importance of Northeast Asia Index IFEZ Slide6:  2. Competitiveness of Incheon “Incheon is in the perfect geographic location to be a global logistics hub. The potential is unlimited.” Dr.Anatoly Hochstein, National Port & Waterways Institute, University of New Orleans, USA Index IFEZ Worldwide:  Incheon Worldwide Index IFEZ Map of Northeast Asia:  South Korea North Korea China Russia Japan Incheon Map of Northeast Asia Index IFEZ Competitiveness of Incheon Location:  Gateway to China, Japan & Russia to Beijing 1.5 hrs Shanghai 1.5 hrs Tokyo 1.5 hrs Vladivostok 2 hrs Hong Kong 3 hrs Incheon is within a 3.5-hour flight to 51 cities, each with a population of over a million. Incheon is closer to reach the China’s Northern provinces than Shanghai. from Incheon Competitiveness of Incheon Location Index IFEZ Competitiveness of Incheon Location:  Just 50 kilometers from Downtown Seoul IFEZ is part of the Seoul Metropolitan Area. It has an ideal transportation network. Incheon Int’l Airport Auxiliary Port 2nd Airport Bridge Airport Railway Airport Highway 3rd Bridge 2nd Airport Railway Yongyu – Muui (Tourism Complex) Gyeong-In Highway 2nd Gyeong-In Highway Seoul Belt Way West Coast Highway Competitiveness of Incheon Location Index IFEZ Competitiveness of Incheon Connectivity: Airport:  Incheon International Airport 3rd largest Cargo Volume in the world Opened in 2001, Incheon International Airport – “The Winged City” – leads the Asian aviation curve. With the world’s 3rd largest cargo handling volume, it is a strategic hub for both passenger and cargo transportation, offering airlines and logistics companies a center for Northeast Asian operations. Competitiveness of Incheon Connectivity: Airport Index IFEZ Competitiveness of Incheon Connectivity: Airport_Extensive Air Connectivity:  Flight Connections Korea-China (October 2003) China Connectivity from Major NE Asian Airports No. of cities served 37 26 10 8 6 0 5 10 15 20 25 30 35 40 HKG NRT NAGOYA KIX IIA has extensive air connectivity to major cities in China and Japan China – Connections with 22 cities including Beijing, Shanghai, Tianjin and Shenyang. Japan – Connections with 23 cities including Tokyo, Narita, Haneda, Osaka and Nagoya. Competitiveness of Incheon Connectivity: Airport_Extensive Air Connectivity IIA Index IFEZ Competitiveness of Incheon Connectivity: Airport_Airlines serving IIA:  Competitiveness of Incheon Connectivity: Airport_Airlines serving IIA 54 airlines, 121 cities (35 countries) Index IFEZ As of September, 2004 Competitiveness of Incheon Connectivity: Seaport:  Incheon International Seaport handles 131 million tons of cargo per year Incheon Port serves the Seoul Metropolitan Area and is an entry point for the entire Northeast Asian and Pacific region. Today there are 78 berths; by 2011, there will be 135. Competitiveness of Incheon Connectivity: Seaport Index IFEZ Competitiveness of Incheon Connectivity: Seaport:  Competitiveness of Incheon Connectivity: Seaport Index IFEZ Seoul Vladivostok Tokyo Beijing Shanghai Taipei Hong Kong Tianjin Dalian Qingdao Busan Incheon Incheon is closer to Northern China than Shanghai is to Competitiveness of Incheon Connectivity: Railway:  Khabarovsk Beijing IIA Railway Connection to TCR, TSR and North Korea When the Korean Railroad is connected to the TSR, it will take 17 days to transport cargo from Japan to Hamburg, compared with 30 days for maritime transport. Hamburg Moscow TSR 13,000km TCR 9,000km Competitiveness of Incheon Connectivity: Railway Index IFEZ Incheon Competitiveness of Incheon IT Powerhouse:  Incheon is an IT & mobile powerhouse with a ubiquitous computing network Korea’s IT industries represent the highest global standards. This leading-edge expertise will ensure that IFEZ’s IT infrastructure is the model for Asia’s high-tech development and will ensure that IFEZ residents are connected to the world 24/7. Competitiveness of Incheon IT Powerhouse Index IFEZ Competitiveness of Incheon Natural Scenic Beauty:  Breathtaking seashores, islands and mountains Incheon is blessed with breathtaking natural beauty, ancient culture and dynamic urban centers. Koreans and foreign visitors alike will enjoy this environment. Competitiveness of Incheon Natural Scenic Beauty Index IFEZ Slide19:  3. Advantages of IFEZ “IFEZ is backed by the national government. Cash grants, tax breaks, and economic potential guarantee investors’ prosperity.” Jin-Pyo Kim, Former Minister of Finance & Economy Index IFEZ Vision of IFEZ:  IFEZ, located in the city of Incheon, is specially designed for foreign investors Locational Advantages of Incheon + Institutional Benefits of Free Economic Zone Northeast Asia’s Center for Business and Living Korea’s New Economy Model 21C Leading Edge City Vision of IFEZ Index IFEZ Advantages of IFEZ Business Environment:  l Flexible labor regulations l Protection from labor unrest Labor Relations Advantages of IFEZ Business Environment Index IFEZ Advantages of IFEZ Business Environment:  l Reduction of land prices and rents l Cash grants in proportion to economic contribution Financial Support Advantages of IFEZ Business Environment Index IFEZ Advantages of IFEZ Business Environment:  Tax Breaks l Income and corporate tax exemption for 3 years, 50% reduction for the following 2 years l Flat 17% income tax for executives of foreign companies l Capital goods tariff exemption for 3 years l Acquisition, registration, property and aggregate land tax exemption for the first 3 years, and 50% reduction for the following 2 years Advantages of IFEZ Business Environment Index IFEZ Advantages of IFEZ Business Environment:  Administrative Services l One-stop service through a project manager l Customized consulting service from start to finish l Ombudsman for foreign investors Advantages of IFEZ Business Environment Index IFEZ Advantages of IFEZ Living Environment:  l New York-style skylines, Boston-style pedestrian malls l Venice-style canals l Cultural centers, museum and aquarium l 24-hour shopping malls and central park l 65-story landmark building l Wide variety of service industries World-Class City Advantages of IFEZ Living Environment Index IFEZ Advantages of IFEZ Living Environment:  l International schools l International hospitals & pharmacies l Bilingual public services l Foreign-language broadcasting l Commercial transactions in foreign currencies (up to US$10,000) Int’l Living Conditions Advantages of IFEZ Living Environment Index IFEZ Advantages of IFEZ Living Environment:  l Luxury resort hotels l Golf courses designed by Jack Nicklaus l Theme parks l Marinas & casinos Leisure & Sports Facilities Advantages of IFEZ Living Environment Index IFEZ IFEZ for your business:  Grow your business in IFEZ, Enjoy your quality life in IFEZ IFEZ for your business Index IFEZ Slide29:  4. Development Concept “The scale of the project is breathtaking, the potential unlimited, and you know that with their record, the Koreans will pull it off.” Dr.Anatoly Hochstein, National Ports and Waterways Institute, University of New Orleans, USA Index IFEZ Master plan:  Incheon Seoul Three separate areas 209㎢ (52,000 acres) 487,000 population Center of multiple activities Master plan Index IFEZ Development Strategies for Business Environment:  Northeast Asia’s Hub High-tech Industries Logistics Business Leisure & Tourism Test bed for new technologies Multi-national R&D centers Air & sea logistics services Railway linkages to Europe International business & convention center Operational HQs for manufacturers World-class accommodations & facilities Eco-tourism Development Strategies for Business Environment Index IFEZ Development Strategies for Living Environment:  Infrastructure for a Comfortable Life Ubiquitous Computer Networking World’s Best Amenities Cutting-Edge Transit System Connection to a computer network anytime, anywhere Parks, over 36% green spaces: Leisure facilities PRT, LRT Minimum pollution & congestion Development Strategies for Living Environment Index IFEZ Slide33:  Songdo International Business City Total size 13,260 acres Population estimate 252,500 Timeframe 2002–2020 Index IFEZ Songdo:  International Business Center Hospital Schools Knowledge-Based Industrial Complex Techno Park Hi-Tech Bio Industry Complex Songdo New Port Ubiquitous IT Hub Songdo Schools IFEZ Index IT Cluster Slide35:  Yeongjong Logistics & Tourism City Total size 34,183 acres Population estimate 144,800 Timeframe 2002–2016 Index IFEZ Yeongjong:  Incheon Airport Free Trade Zone Industrial Logistics Complex Incheon Int’l Airport Yongyu Tourism Complex Muui Tourism Complex Silmido Yeongjong Index IFEZ International Business Center Dragon City 188 acres Biomedico polis 72 - Hole Golf Course (Polaris) Unbuk Leisure Complex Schenker Slide37:  Cheongna Sports & Leisure City Total size 4,419 acres Population estimate 90,000 Timeframe 2004–2008 Index IFEZ Cheongna:  Golf Course Railway Station Golf Course Golf Courses Commercial Zone GM DAEWOO R&D Center Theme Park International School Cheongna Index IFEZ Floral Complex Floral Complex Hospital Slide39:  5. Investment Update “We are managing US$12.7 billion to develop Incheon’s Songdo Intelligent City into Korea’s most up-scale urban environment.” Stan C. Gale Chairman, The Gale Company, USA Index IFEZ Investment Update:  Cargo Terminal (Incl: DHL, TNT) Unbuk Leisure Complex Container Terminal (PSA) Bio-Complex (Incl: VaxGen) Investment Update Index IFEZ Schenker (Germany) Investment Update:  1. International Business Center Investment US$12.7 billion Investors The Gale Company, POSCO E&C Gale and POSCO will build an International Business Center and other facilities, in the amount of US$12.7 billon, on a land of 1,364 acre area in districts 1,3 and 2,4. Investment Update Index IFEZ Investment Update:  2. Advanced Bio–Tech Investment US$150 million Investors VaxGen, KT&G Korea’s KT&G, Nexol Corporation, J.Stephan & Co. and the world-renowned US pharmaceuticals company VaxGen founded Celltrion, Inc. Investment Update Index IFEZ Investment Update:  3. Second Airport Bridge Investment US$783 million Investors AMEC, Incheon Metropolitan City The British company AMEC and Incheon Metropolitan City are the joint contractors for this project. Construction work on the bridge will commence in 2004, and will be completed by 2008. Investment Update Index IFEZ Investment Update:  4. Incheon Container Terminal Investment US$324 million Investors PSA, Samsung Corp The total project cost is estimated at US$324 million, with 30% to be financed by Samsung Corporation, PSA (Port of Singapore Authority), Sun-Kwang Co. Ltd., and Samsung Fire and Marine Insurance Company. The remaining 70% will be funded through project financing. Investment Update Index IFEZ Investment Update:  5. New Songdo Port Project Investment US$1.5 billion Investors Pyne, Hinneberg PH consortium (Pyne & Hinneberg, Hyundai Engineering & Construction, Posco E&C) are investing 1.5 billion dollars and plan to construct a 12-berth container terminal. Investment Update Index IFEZ Investment Update:  5. New Songdo Port Project Investment US$1.5 billion Investors Pyne, Hinneberg Investment Update Index IFEZ 6. GM DAEWOO R&D Center Investment US$ 56 million Investors GM DAEWOO The total project cost is estimated at US$73 million GM Daewoo is investing approximately US$24 million in Automobile Probing ground development and, US$49 million in R&D Facility development 인천경제자유구역(IFEZ)의 투자유치현황 Slide47:  6. IFEZ Authority “IFEZ Authority is an agency of the municipal government operating with the full support and cooperation of the Korean government.” Ahn, Sang-Soo Mayor of Incheon Metropolitan City Index IFEZ IFEZ Authority:  Role l Established Oct. 15, 2003 l Promotes Incheon’s global competitiveness in business and living l Assists with investment opportunities for global companies IFEZ Authority Index IFEZ IFEZ Authority:  Services l Various types of investment-related services l Administrative-related services l Liaison between national and local government agencies I Continuous high-standard service from first contact IFEZ Authority Index IFEZ IFEZ Authority:  Investment Policy planning Division Planning & Generalization Division Construction & Planning Division Yeongjong Development Division Songdo Development Division Policy Planning Division General Affairs Division Civic & Administration Division Construction & Environment Division Organization CEO Planning & Civic Services Bureau Investment Promotion Bureau Urban Infrastructure Bureau IFEZ Authority Index IFEZ Public Relations Officer Ombudsman Investment Promotion Division 1 Investment Promotion Division 2 Urban Management Division IFEZ Authority:  Contact Point IFEZ Authority Index IFEZ l Overall IR key number ifez@incheon.go.kr +82-32-453-7341 l Tax consultation lamb66@incheon.go.kr +82-32-453-7332 l International business team ppp1250@incheon.go.kr +82-32-453-7381 I Convention team hejee@incheon.go.kr +82-32-453-7391 I Knowledge Industries Team mike@ifez.go.kr +82-32-453-7401 l Information Industries Team jbha11@incheon.go.kr +82-32-453-7411 l Tourism skpark0625@hanmir.com +82-32-453-7421 l Education and medicine hkang@freechal.com +82-32-453-7441 Appendix: Incentives:  Appendix: Incentives Index IFEZ Appendix: Incentives:  Appendix: Incentives Index IFEZ Appendix: Incentives:  Management and Administration: General Allowing the direct payment of cost arising from current transactions up to US$ 10,000 l Changing the paid leave for women, and paid weekly leave to unpaid leave l Allowing the conduct of business in sectors exclusive to small- and medium-sized companies: exemption from the mandatory employment of people who made “meritorious contribution to the country”, the disabled and the elderly l Wider range of job fields for transferred company employees and longer period of employment negotiable with IFEZA Appendix: Incentives Employment conditions and labor-management relations Issuing, processing government documents in English for the convenience of foreigners allowed Index IFEZ Appendix: Incentives:  Management and Administration Cash grant (foreign-invested firms) l High-tech business plants and R&D research centers (more than US$10mil.) l Financial support will be determined by the Foreign Investment Committee of the Ministry of Commerce, Industry and Energy (5-15%) Employment conditions and labor-management relations Appendix: Incentives l Any firms for which foreign investment accounts for one-third or more, or a foreigner is the largest stockholder l Applicable for facilities, education and training, employment subsidies l Financial support will be determined by the Incheon City Foreign Investment Committee (will be implemented soon) Technology Development Support (domestic & foreign firms) l Korean Government and provincial government may support funds, if deemed necessary for technology development and the human resources development of the companies (excluding supporting entities) within the ALP. Index IFEZ

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