Commissioner Lee Won-jae of the Incheon Free Economic Zone Authority, his executives and staffers pose after Lee took office as the sixth commissioner of the Incheon Free Economic Zone Authority on July 10.

 IFEZ Commissioner Lee Won-jae (Photos: IFEZ)

Commissioner Lee Won-jae of the Incheon Free Economic Zone Authority said, “The Incheon Free Economic Zone (IFEZ) needs to be upgraded qualitatively.”

“Construction of the IFEZ is already half way through, and many things have been so far achieved, but there are still lots to be done down the road – it needs to make a leap forward qualitatively,” he said in his inaugural speech. Lee took office as the sixth commissioner of the Incheon Free Economic Zone Authority on July 10.

IFEZ Commissioner Lee, a native in Chungju, Chungcheongbuk-do, graduated from Seoul National University Business Administration Department and obtained a master’s degree in economics after completing a graduate program in economics from York University. Lee passed the 30th Higher Civil Service Examination in 1986.

Lee held major positions such as administration management officer at the Planning and Coordination Office of the Ministry of Construction & Transportation, executive administrative officer at the Office of the Presidential Secretary for Economic Affairs, director-general for Land Policy, Ministry of Land, Transport and Maritime Affairs; director-general for Housing Policy, Ministry of Land, Transport and Maritime Affairs; councilor with the Embassy of the Republic of Korea in China; head of the Construction Policy Bureau; executive administrative officer for land and transport at the Office of the Presidential Secretary for Economic Affairs; and administrator of the National Agency for Administrative City Construction (NAACC).

Incheon Mayor Park Nam-chun said, “I hope that new Commissioner Lee will impress people so that the Incheon Free Economic Zone Authority can be reborn as an institution to proactively cope with outside and inside economic environment changes and make its way for the future.”

The mayor called for the IFEZA to spearhead collaboration in keeping with residents’ views and wishes by continuously communicating with residents in Songdo, Cheongna and Yeongjong.

Commissioner Lee said the IFEZ has achieved remarkable growth by establishing world-class settlement and educational environment. “From now on, (the IFEZ) has to further grow as a center of global business, advanced industries and a strategic hub of national development,” he said.

Lee said his authority will nurture the IFEZ as a center playing a leading part in an era of the 4th Industrial Revolution through investments into future new industries such as bio, health, 5G, AI, tourism/leisure and convention, attracting companies, the creation of industry-academia-research collaboration ecosystem and foundation for related manpower development.

Ongoing projects such as the Cheongna International Business Complex, City Tower Construction Project and 3rd Suspension Bridge Project will be completed without interruption, he added.

He will redouble efforts to communicate with citizens to lend an ear to their views and reflect them into policy decision-making.

About the IFEZ

Originally a patch of reclaimed land, surrounded by islands, the Yellow Sea, and mudflats, it was designated as the first free economic zone in Korea by the Korean government back in 2003.

Since then, IFEZ has invested heavily in creating world-class business and residential environments for 16 years. Today, it has grown into a global city with more than 2,700 businesses and over 330,000 residents, campuses of renowned foreign universities, and 15 international organizations including the Green Climate Fund.

Leveraging its remarkable growth, IFEZ is looking to establish itself as a hub for new future industries such as biotechnology (BT), 5th generation (5G) telecommunication and information technology (IT), and artificial intelligence (AI), and the center for distribution, logistics, tourism, and MICE industries.