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Foreign direct investment in Incheon Free Economic Zone reaches more than 90% of its annual goal

Published: 13 Oct. 2025, 17:06 Updated: 13 Oct. 2025, 18:34

KIM MIN-YOUNG
[email protected]

The Incheon Free Economic Zone (IFEZ) [INCHEON FREE ECONOMIC ZONE]

Foreign direct investment (FDI) in the Incheon Free Economic Zone (IFEZ) reached more than 90 percent of its annual goal by the third quarter of 2025, fueled by strong investor interest in biotechnology and other strategic sectors, officials said on Monday.

The IFEZ Authority reported $553.5 million in declared FDI as of the third quarter, meeting 92.3 percent of its $600 million target for the year. That includes $494.7 million from the first half and an additional $58.8 million in the third quarter.

Officials credited the zone’s strong performance to steady inflows into key industries such as biotech, semiconductors and renewable energy.

Major deals earlier this year included $250 million from global leader in biopharmaceutical materials Sartorius Korea Operations; $28.7 million from Lotte Biologics; $24.6 million from semiconductor materials producer TOK Advanced Materials; $119.6 million from Danish renewable energy company Ørsted; and $61.4 million from Costco Cheongna for retail expansion. In the third quarter, Starfield Cheongna declared a $52.5 million investment.

Actual FDI inflows reached $391.2 million as of the third quarter, surpassing the authority's annual target of $350 million and more than doubling last year's figure. Since its establishment, IFEZ has recorded a cumulative total of $16.72 billion in declared FDI.

IFEZ said it will maintain its annual goals of $600 million in declared FDI and $350 million in actual inflows for 2025 and has formulated a new investment promotion strategy. The agency is focusing on attracting investment in medical and biotech industries, high-tech and strategic sectors and tourism, leisure and cultural content.

Yun Won-sok, the commissioner of IFEZ, said he expects the agency to exceed $600 million in declared FDI again this year, continuing its momentum from last year.

BY KIM MIN-YOUNG [[email protected]]