President Yoo Chang-keun of the Incheon Port Authority. (Photos:IPA)

The Incheon Port Authority (IPA) is developing an international ocean tourism complex called the Golden Harbor, with the aim of attracting 3 million annual tourists in 2018. The first-stage work on the new international passenger terminal kicked off on April 29. The facilities will be built northwest of the Songdo International City, the IPA said recently.

The Golden Harbor development will comprise a new international passenger wharf, terminal, and harbor hinterland complex at Incheon port. The project includes a multiple international tourism complex allowing both domestic and foreign tourists to enjoy tourism, culture and leisure, and logistics facilities at a new international passenger terminal and new international passenger wharf, which will have an exclusive harbor for international cruisers. IPA plunked down some 43.5 billion won for the first stage of the project, which will include the construction of roads, multiple facilities for the new international harbor, portable water facilities and other basic facilities for the new harbor.

IPA also plans to complete the design for the second stage project, including hotels and condos around the harbor so that the project can be kicked off in the second half of this year, with the completion of the project slated for April 2018.

The budget allocated to the project will be funded by the government, the IPA, and private investment.

In a press statement, the IPA said, “We made a presentation on April 17 for 20 officials from related organizations such as the Ministry of Oceans and Fisheries, Ministry of Trade, Industry and Energy, Incheon Metropolitan City, Incheon Free Economic Zone, and Incheon Regional Oceans and Fisheries Administration."

The project was first considered in 2011. The master plan and a final development concept were subsequently decided.

That was followed by the designation of the port hinterland in October 2014 and a change in the development plan of Songdo International Business District in the Incheon Free Economic Zone in March 2015.

For the Golden Harbor project, the Port Act and Special Act on Designation and Management of Free Economic Zones have been enacted.

The IPA said, “Due to duplication of regulations, establishing and changing development plans took a long time. Given this, support and assistance from related organisations are essential to promote the project smoothly.”

Considering an urgent need for the project to establish transport networks, the IPA sought keen interest and cooperation from the organizations during the presentation.

The IPA plans to begin construction of the international passenger terminal and infrastructure at the end of this year.

IPA will start construction on the upper infrastructure in April and on a new international passenger terminal in October, according to the announcement. Also, it will push harder to attract the investment in the Golden Harbor.

In addition, the IPA said it will make the Golden Harbor site a marine tourism complex for both citizens and tourists and a landmark in Incheon by building various facilities, including hotels, Urban Entertainment Center (UEC), a water park, condominiums, resortels and a marina, as well as a complex shopping mall and a complex resort, creating its new growth engine in the Incheon Port.

Kim Sung-jin, a head of the new growth business division at the IPA, said, “We will make the Incheon Port the leading marine tourism port in Northeast Asia by successfully carrying out the Golden Harbor development project by 2019.

A drawing of the Golden Harbor, an international tourism complex, which will be built at  Incheon Port, whose first stage work was kicked off on April 29. The entire project is to be completed in April, 2018.