Incheon: The industry ministry announced plans to designate the southern part of Ganghwa Island as a free economic zone, focusing on biotechnology and physical artificial intelligence sectors.

According to Yonhap News Agency, the Incheon Free Economic Zone (IFEZ) authority recently submitted a proposal to include the southern region of Ganghwa Island as a special zone. This designation aims to offer streamlined regulations and financial incentives to attract foreign investment. The Ministry of Trade, Industry and Resources supports this initiative to transform Ganghwa Island into a hub for advanced industries, particularly targeting the green bio industry and physical AI companies.

The IFEZ's strategy includes creating a logistics hub powered by AI and establishing a cultural cluster for tourism, leveraging the island's historical sites and proximity to Incheon International Airport. These developments are part of a broader plan to enhance the island's industrial and economic landscape.