Tag Archive for Songdo

Cruising Together: Gale International and POSCO E&C

August 17, 2009 Songdo IBD in the News Comments Off on Cruising Together: Gale International and POSCO E&C

Whale-sculptureBy Don Southerton, Songdo IBD CityTalk Editor and Chief Blogger

On my recent trip to Songdo IBD, I attended and participated in a number of events. The unveiling of the Gale International–POSCO E&C  whales’ statue was memorable. It commemorates the strong partnership between NYC-based Gale International and Korea-based POSCO E & C.  Among the Korean and American VIPs and officials on hand at the unveiling were a number of Gale International chairman Stan Gale’s family, friends, and long time business colleagues–many in Korea for the first time. Gale noted in his speech the importance of family and building strong long lasting ties–stressing his family’s long business roots. Moreover, Gale stressed the strong bond between America and Korea, and Gale International and its partner POSCO. Significantly, the statue’s whales showcase both Gale and POSCO maritime roots.

Some details…
Huntington, NY… August 13, 2009… What is a familiar image to residents of Long Island’s North Shore—the Daniel Gale Sotheby’s International Realty whale logo, is getting a whole new audience in the Far East.

A commemorative statue, “Cruising Together,” depicting two whales spanning the globe, has been installed in South Korea’s Songdo International Business District, an emerging urban center developed by Gale International and POSCO E & C. Stanley C. Gale, grandson of the founder of Daniel Gale Sotheby’s International Realty, is the Chairman of Gale International.

The statue, which was installed in Songdo’s Central Park, is modeled after the first and current Daniel Gale Sotheby’s whale logos, and symbolizes the unique partnership and friendship Gale International and Posco E&C have achieved over the course of this project.

“The Gale family and its associated businesses, Daniel Gale Sotheby’s International Realty included, have a history of being at the forefront of new ideas and opportunities,” said Patricia Petersen, President and CEO of Daniel Gale Sotheby’s International Realty. “This latest accomplishment reflects and honors that tradition, and presents another yet another unique opportunity for real estate buyers and investors around the world to be aware of what Long Island, and Daniel Gale Sotheby’s, has to offer.”

The Songdo International Business District, roughly the size of downtown Boston, is being constructed on reclaimed land near Inchon, South Korea, an easy flight from China and other rapidly developing areas of Northeast Asia. Begun in 2002, Songdo represents a $35 billion city-within-a-city near Seoul’s international airport. It is one of the world’s largest commercial developments.

The statue, constructed of bronze, is 18 ft in length, 15.7 ft in width and 20 ft in height, and was made by Han Jeong-ho, Head of Soto Design Architect and Lee Young-song, a famous Korean artist.

Founded in 1922, Daniel Gale Sotheby’s International Realty consistently leads the nation in achieving one of the highest average sales prices in the country.

Chemulpo to Songdo IBD Launched in Incheon’s Historic District

August 10, 2009 Songdo IBD in the News Comments Off on Chemulpo to Songdo IBD Launched in Incheon’s Historic District

Incheon, South Korea August 11, 2009 The global launch of the pictorial history Chemulpo to Songdo IBD: Korea’s International Gateway took place on Thursday August 6 at Incheon Korea’s historic Chemulpo Club. Hosted by author Don Southerton and sponsored by Gale International, the event was attended by notables including Incheon Mayor Ahn Sang-soo, Gale International chairman Stan Gale, and former Ambassador Donald Gregg. Also attending were local officials, Korean and American guests, and the media.

Chemulpo to Songdo IBD: Korea’s International Gateway documents 125 years of life in the port area through first hand accounts and historic photographs. Fittingly, the book’s launch was held at the foreign settlement’s former gentleman’s club, which was built in1901.

After warm opening remarks by Stan Gale, author Southerton shared his inspiration for writing the book—one built on collaboration. In fact, Southerton noted the early trade settlement and surroundings were home to Europeans, Americans, Japanese, Chinese, and Koreans. Likewise, the book was a collaboration of Korean and American teams. Building on this theme Southerton pointed out that today’s nearby Songdo International Business District (IBD) was, too, a diverse international collaboration of firms including Gale International, POSCO E&C, Kohn Pederson Fox, and most recently CISCO.

Joining Southerton on the podium, Mayor Ahn Sang-soo was presented with a copy of the book. The mayor then shared his vision for the city becoming one of the world’s top ten cities.

Following the book presentation, Southerton, conducted a tour for the American VIPs of Jayu Park and the historic Chinatown district.

Plans call for the book to be donated to Korea-focused organizations and universities in the U.S. and Korea. A full schedule of book promotion events is also planned.

An online eBook version of Southerton’s work is now available at http://chemulpotosongdoibd.com

About the Author
Don Southerton has held a life-long interest in Korea and its rich culture. His previous books center on culture, entrepreneurialism, and early U.S.-Korean business ventures. Southerton extensively writes and comments on modern Korean business culture and its impact on global organizations. His firm, Bridging Culture Worldwide, provides consulting and training to Korea-based global business.

About Gale International
Gale International is a premier international real estate investment and development company with headquarters in New York and offices in Boston; Irvine, California; Seoul and Songdo, South Korea.

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Songdo IBD Central Park’s Eco-friendly Canal

July 24, 2009 Uncategorized One comment

songdo_central_parkBy Don Southerton, Songdo IBD CityTalk Editor and Chief Blogger

At the heart of Songdo IBD is Central Park. Like New York City, the park will provide city dwellers with a wonderful haven.  (See Chris Steiner’s $20 Per Gallon for his thoughts on Songdo IBD’s Central Park, too)

Korea Times notes.

The Songdo Central Park, located in the newly built city 30 kilometer west of Seoul, has begun filling its canal with 85,500 tons of seawater, Gale International Korea, co-developer of the city, said in an emailed statement yesterday.

The seawater is purified through a double filter and will prevent canal from freezing in the winter. The method will enable water taxis to operate year around, it added.

A 1.8-kilometer-long canal that run through the 100 acre park in the heart of the international business district is deisnged to incorporate many environmentally sustainable benefits in Korea, according to the U.S.-based developer. To maintain the water quality, the canal will be refreshed every 24 hours,

New Book, $20 Per Gallon, Lauds Songdo IBD and Gale International

July 18, 2009 Songdo IBD in the News Comments Off on New Book, $20 Per Gallon, Lauds Songdo IBD and Gale International

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By Don Southerton, Songdo IBD CityTalk Editor and Chief Blogger

I shared with a longtime friend and well-known Denver-based entrepreneur Stephen Oliver that over the past several years, I’ve been so focused on Korea writing projects I rarely pick up a book for casual reading. Later that day, I was skimming new book reviews and came upon Christopher Steiner’s $20 Per Gallon How the Inevitable Rise in the Price of Gasoline Will Change Our Lives for the Better. My hope was to find a interesting book, then take some time to read and reflect.  Previewing the book online, I noticed the author lauded Songdo and the developer Gale International. How convenient!

After buying a copy and a giving the book a quick skim, I found that author Steiner sees New Songdo City (Songdo IBD) as a model for his future urban revolution. With quotes from Gale International CEO John Hynes III, $20 Per Gallon provide a nice overview on Songdo IBD interconnectedness, sustainability, and quality of living. The book is available at Amazon...

I am curious to the thoughts of Songdo IBD CityTalk readers on Steiner’s arguments and foresight.

Looking Back: Chemulpo, a Songdo IBD Legacy

May 28, 2009 general One comment

By Don Southerton, Songdo IBD CityTalk  Editor and Chief Blogger

Chemulpo Early 1900s

Chemulpo Early 1900s

125 years ago , in 1884, Incheon port then commonly know as Chemulpo was designated a foreign settlement. By the early 1900s, thousands of Korean, Japanese, Chinese, and westerners had transformed the port into a vibrant international trade center. My forthcoming book, Chemulpo to Songdo IBD: Korea’s International Gateway will share the port’s amazing and significant history.  An August 2009 book release is expected.

* Photo by George Rose,  courtesy of Keystone-Mast Collection, UCR/ California Museum of Photography, University of California, Riverside


789: Incheon Global Fair and Festival

April 22, 2009 Songdo IBD in the News 3 comments

Incheon

Incheon Global Fair and Festival

By Don Southerton, Songdo IBD CityTalk Editor and Chief Blogger

Last year, I learned about 789–the  August 7, 2009 kick-off date for the Incheon Global Fair and Festival. With many activities centered in and around Songdo IBD, I follow the event. This Korea Times article notes some of the fair’s planning.

With nearly 100 days left before the kick off of the Global Fair and Festival 2009, host city Incheon’s preparations for the 80-day business fair for corporations and cities around the world have been shifted into high gear.

Songdo International City, in the west of the coastal city, and its adjacent area, is shaping up for the event, which aims at envisioning futuristic urban models, digital technologies, green energy and urban lifestyles. It will start Aug. 7 and continue until Oct. 25.

Mayor Ahn Sang-soo said, “Incheon has had few opportunities to promote itself elsewhere. This event will lay the groundwork for the city to grow into one of the 10 global cities one must visit.”

The organizing committee for the festival said construction of every venue will be completed by May. “All preparations are on track,” a committee official said.

Despite the ongoing economic slump, the committee said it’s attracting investment and raising funds as planned.

Incheon aims to draw more than seven million people from home and abroad ㅡ nearly one third of the combined population of Seoul, Gyeonggi Province, and Incheon and the committee has run various promotional campaigns in cooperation with civic groups and companies.

The festival will become a venue for global firms, scholars, policymakers and urban planners to gather and discuss important issues regarding urbanization, futurism and the environment.

Incheon will continue to expand publicity for the fair via the Internet, TV and other media. “We’ll step up the promotional campaign,” the official said. “World-class cultural events will take place, various leisure activities will be available in an environmentally friendly manner and executives of multinational corporations will flock here. It will be a festival you won’t want to miss.”

The committee expects admission ticket sales to exceed 40 billion won ($33 million).

The festival will appeal to foreign tourists as the city is upgrading accommodation, transport, roads and other infrastructure for them to enjoy the festival more comfortably. “We aim to draw half a million foreign tourists, particularly from Japan, China, and the United States,” the official said.

It has formed business partnerships with travel agencies at home and abroad to attract foreign travelers and developed travel programs with itineraries including the venue.

The committee is pinning its hope on a weaker won against the dollar and other major currencies, which will help attract foreign tourists.

The city also aims to use the festival as a springboard to attract more investment into the free economic zones in the districts of Songdo, Cheongna and Yeongjong. During the festival, foreign urban planners and policymakers will be able to learn more about Incheon’s development models. The city itself will be an exhibition site, the official said.

Incheon Free Economic Zone: An Update

April 3, 2009 Songdo IBD in the News 6 comments
Songdo IBD

Songdo IBD

By Don Southerton, Songdo IBD CityTalk Editor and Chief Blogger

The Korean press frequently shares Incheon Free Economic Zone’s (IFEZ) amazing progress. At the heart is Songdo IBD. This Korea Herald article does a great job pointing out that within the greater IFEZ, Songdo is one of three districts. Within Songdo is the international hub–Songdo IBD–which includes among a number of high profile projects,  the International School, Jack Nicklaus Golf course and community, Central Park, 1st World  Towers, and the Northeast Trade Center.

Korea Herald notes:

The Incheon Free Economic Zone has begun to take shape as a new global financial and logistics hub in Northeast Asia with the first phase of its development project scheduled to be completed this year.

The planned city, some 30 kilometers west of Seoul, features a working and living environment built to meet the standards of global companies.

The first phase of the project included reclamation work that has created 12.11 million square meters of coastal land and completion of infrastructure facilities for mass transportation and quality living.

Once this new infrastructure is established this year, Incheon aims to create new jobs by attracting multinational companies.

The IFEZ, an hour’s drive from Seoul, will bring a shift in the region from being manufacturing-based to knowledge-based, and foster a value-added industry by establishing a service-oriented infrastructure, the IFEZ Authority said.

The IFEZ will be comprised of three major districts, each taking on a special function. Songdo will serve the biomedical field and global education institutions; Yeongjong will function as a transportation and logistics hub; and Cheongna will host a robot-themed amusement park. Since its establishment in 2003, the IFEZ has signed a total of 41 memoranda of understanding for a combined $57.9 billion in foreign direct investment, the IFEZ Authority said.

Songdo has been selected by the government to be developed into a state-of-the-art medical and welfare complex by 2020 – a project worth 3 trillion won in government investment. Songdo is aiming to build top-notch infrastructure that would make it a people-friendly and health-oriented district.

Songdo sits on more than 13,047 acres and it is expected to be developed into six main clusters: international business center [commonly referred to as Songdo IBD], knowledge-based industry complex, biotech complex, information technology cluster, international academic complex and the Incheon new port.

Starting July this year, underground trains will start to connect Songdo and Incheon. Songdo International School, which will run kindergarten, elementary, middle and high schools is scheduled to open in September.  A 405,000-square-meter central park located in the center of Songdo International Business District will be completed in June.

In addition, with the 12.3-kilometer bridge to be completed in October this year, the IFEZ will be only 15 minutes away from Incheon International Airport. The Incheon Bridge currently being built by a construction unit of Samsung C&T is to be the world’s fifth longest cable-stayed bridge. The construction will cost 2.5 trillion won, the authority said.

Even with the blueprints for the IFEZ, the lack of government support in building infrastructure and remaining regulations is making it hard for the IFEZ Authority to lure foreign investment, especially in times of economic decline, the office said.

“FEZs are supposed to offer a business-friendly environment as well as favorable tax breaks and other benefits to foreign investors. But not in FEZs in Korea,” an official of the IFEZ Authority said.

“The government also needs to simplify all the administrative work suitable for foreign investors,” he added.

Songdo IBD “Green”–Model for PlaNYC

March 4, 2009 Songdo IBD in the News Comments Off on Songdo IBD “Green”–Model for PlaNYC

Songdo IBD

By Don Southerton, Songdo IBD CityTalk Editor and Chief Blogger

I was recently given the link to a Popular Science website article that discusses Songdo IBD with regard to its eco-friendly design and Green footprint. The article notes NYC is looking at international success models to cope with sustainability and Green issues.

POPSCI.com  notes…

Lean times call for green measures. Even before the cash crunch came to fruition, New York City was looking for ways to cut costs and bolster environment initiatives.

A brainchild of Mayor Michael Bloomberg, PlaNYC (pronounced plan-why-see) avoids the wait-and-see approach, in favor of a proactive checklist of what needs to happen to help the Big Apple adapt to a predicted influx of a million new residents by 2030. An exhibition at the Museum of the City of New York gets to the core of the proposed changes and looks to other cities for fixes that are more than skin-deep.

PlaNYC’s top goals include creating adequate housing, cleaning up contaminated lands (brownfields), updating the city’s energy infrastructure, reducing global warming emissions by 30 percent, and achieving the cleanest air in any American city.

You don’t have to be in midtown Manhattan to know those are lofty goals. Just take a look at the hazecam to check out the current soot situation.

Nonetheless, several international success stories have elements worth emulating.

Formerly laden with landfills and home to a major auto manufacturer’s biggest plant, Malmö, Sweden, is no longer a Saab city. An $85 million transformation ushered in the new Bo01neighborhood — and inventive ways of reusing refuse. Buses run on biogas made from organic waste, plastics of all sorts are recycled and renewable energy (mostly wind power) is the norm.

Singapore is no stranger to congestion. It’s not surprising that the Malaysian metropolis inaugurated its first congestion-pricing plan in 1975. (A similar plan in New York failed to pass in the City Council last year.) Traffic is down by 30 percent, even after a one-third increase in the number of workers streaming into the downtown area.

Sometimes the best solution is to start from scratch. New construction means new materials and more resources but it offers an opportunity to avoid old-school mistakes. In South Korea, 1,500-acres of reclaimed land are getting ready for a green-over. Forty minutes southwest of Seoul, Songdo City will be the world’s first international business zone based on Earth-friendly design. Forty percent of its footprint will be green space (as opposed to ten percent in New York City) and trash trucks will be a thing of the past: pneumatic tubes will whisk waste to processing facilities. To keep carbon emissions down, Korea’s urban green giant will pull from at least one New York City success story. Its 100-acre Central Park is modeled on New York’s verdant heart.

Sustainability in Songdo IBD: from the Environment to the Community.

January 8, 2009 general, Uncategorized 4 comments

By Dr. Jorge Olaf Nelson

Songdo IBD will encourage and foster sustainable design practices by incorporating the latest design standards and technologies that reduce energy consumption, increase energy efficiency, utilize recycled and natural materials and generate clean or renewable electricity.

Six core design goals for Songdo International Business District reflect our commitment to sustainability for this new city spanning 1500 acres near Incheon, South Korea. These design goals are ambitious targets. But setting them — and meeting them — will set a new standard for green design for large-scale development projects across the globe.

Songdo IBD parcels target certification under the U.S. Green Building Council’s Leadership in Energy and Environmental Design program (LEED). Third party development land sale agreements will contain language mandating that buildings erected must pursue LEED Certification. Songdo IBD is also part of the LEED-ND (Neighborhood Development) Pilot program. The LEED-ND program emphasizes neighborhood connectivity, access to transit, energy efficiency in building design, efficient infrastructure design and the provision of open space and habitat for residents of all kinds. It builds upon the principles of New Urbanism and aims to promote the incorporation of positive planning aspects into local and municipal zoning codes focused on Smart Growth, Transit Oriented Development and Green Growth. The KGBCS (Korean Green Building Certification System) is used on selected parcels within Songdo IBD. The use of both Korean and International green building rating systems ensures that projects are built to a high standard of sustainable design and construction.

Yet another part of sustainability is helping out with the direct participation with the greater Incheon community via the Corporate Social Responsibility (CSR) program going on at Gale International. There are a number of ways that Gale has given back to the citizens of Incheon.

Please take a quick look at the video to catch a glimpse of how Gale takes CSR seriously in Songdo IBD. Comments? Questions?

Taubman Asia Announces Cinema Multiplex Megabox for Songdo Mall

January 7, 2009 Songdo IBD in the News, Uncategorized 3 comments

744thm By Don Southerton, Songdo IBD CityTalk Editor and Chief Blogger

I was excited to see this announcement. Megabox is popular in Korea, so are films. Did you know the first films were shown in Korea during the late 1890s. In fact, in 1899, Burton Holmes, the great travelogue writer and lecturer, entertained the Korean royal family with motion pictures. Today Korean cinema has gained much international acclaim.

Taubman Asia, a subsidiary of U.S. mall REIT, Taubman Centers, Inc. today officially announced that cinema multiplex leader Megabox, has signed as the cinema operator and third anchor tenant in Songdo Shopping Center situated in the heart of the master-planned Songdo International Business District (Songdo IBD), Incheon, Korea. Songdo IBD is being developed by New York headquartered Gale International and Korea’s Posco E&C.

“This is the third major anchor signing to be completed for Songdo Shopping Center, following the announcement of Lotte Department Store back in April, and Tesco Homeplus in September,” said Morgan Parker, president of Taubman Asia, the manager and developer of Songdo Shopping Center.

“We are thrilled to secure Megabox as an anchor tenant. Megabox is widely recognized in Korea as the premier provider of big screen entertainment,” Parker said.

The Megabox multiplex at the Songdo Shopping Center will feature nine theaters with seating for approximately 1,900 patrons. One of the nine theaters will be “M Class,” Megabox’s up-market, luxury experience, featuring a large format screen and superior sound system.

“The Megabox deal is a significant milestone for this project, as it is the first lifestyle/entertainment provider for the shopping center in Songdo IBD,” added Parker. “This is in keeping with our vision of developing a leisure lifestyle and entertainment destination, in addition to a retail complex of international standards. The Megabox complex will perfectly augment the international luxury lifestyle shopping and amenities planned for the shopping center.”

The two-level enclosed international style shopping center, designed by globally renowned architect Daniel Libeskind, with interior design by Benoy, will be the first of its kind in Korea. It is being developed as an integrated space and includes a Lotte Department Store, a Tesco Homeplus hypermarket, a Megabox multiplex cinema, a food emporium, an ice rink, and approximately 150 specialty stores.

For more information about Taubman, visit www.taubman.com

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