New chief outlines four key policy directions for IFEZ's next leap forward

Kim Jong-cheol delivers his inaugural address as commissioner of the Incheon Free Economic Zone Authority on Friday. [Incheon Free Economic Zone Authority]
Kim Jong-cheol delivers his inaugural address as commissioner of the Incheon Free Economic Zone Authority on Friday. [Incheon Free Economic Zone Authority]

Kim Jong-cheol was inaugurated Friday as the ninth commissioner of the Incheon Free Economic Zone Authority, formally launching his tenure at the helm of the Incheon Free Economic Zone (IFEZ).

In his inaugural address, Kim said he would "proactively respond to the rapidly changing global industrial environment and supply chain shifts, drawing on expertise accumulated in the fields of industry, trade and energy."

He said he would translate the ninth elected-term Incheon city government's slogan — "overwhelming growth, happy change" — into tangible results for residents' daily lives and the business community.

Kim outlined four key policy directions for IFEZ's next leap forward: upgrading strategic investment attraction beyond a development-focused approach to align with national industrial strategy; building an innovation ecosystem connecting businesses, universities and research institutions; nurturing a differentiated culture, tourism and wellness city by leveraging K-culture and the zone's strong locational advantages; and expanding IFEZ's footprint through a new free economic zone designation in the southern Ganghwa area to foster balanced regional development.

"I will find answers on the ground and build an innovation-driven growth ecosystem where businesses, technology and talent come together," Kim said. "I will sharpen the competitiveness of Songdo, Yeongjong and Cheongna, complete major projects without delay, and spread the fruits of IFEZ across all of Incheon and throughout South Korea."

Kim previously served as director general for resource industry policy and director general for trade cooperation at the Ministry of Trade, Industry and Energy, as well as head of the Foreign Investment Support Center at the Korea Trade-Investment Promotion Agency (KOTRA).


gilbert@heraldcorp.com