Incheon aims to build global financial hub linking Songdo and Cheongna

The Incheon Free Economic Zone (IFEZ) is advancing a plan to develop a global financial hub by linking the Songdo and Cheongna districts. This initiative leverages the existing international climate and development finance infrastructure in Songdo with the emerging private and digital finance capabilities in Cheongna.

Songdo currently hosts the Green Climate Fund (GCF) secretariat and the World Bank Group Korea Office. The GCF, which supports greenhouse gas reduction and climate change adaptation in developing nations, manages a portfolio exceeding $20 billion across 354 projects. The World Bank Group Korea Office has also grown since its establishment in Songdo in 2013.

In Cheongna, Hana Financial Group is establishing a major private finance cluster. Following the completion of its group headquarters in May, approximately 2,200 employees from 10 affiliates, including Hana Bank and Hana Securities, are scheduled to relocate to the Hana Dream Town area between September and the end of the year. This will bring the total number of finance and IT professionals in the area to approximately 4,000. IFEZ plans to use this momentum to attract investments in fintech, blockchain, and digital assets, while utilizing the proximity to Incheon International Airport to draw foreign financial institutions.