Tag Archive for Songdo

IFEZ: A Global Business Hub City, Part 2

Just us in Part 2 of Korea’s Money Today’s interview with Dr. Peter Wonsok Yun, Commissioner of the Incheon Free Economic Zone Authority, and his Q and A.

I provided the translation and editorial review. Please check it out.  Few grasp global developments as well as Dr. Yun.

IFEZ: A Global Business Hub City

Dr. Wonsok Yun, Commissioner of Incheon Free Economic Zone Authority,
(Photo provided by Incheon Free Economic Zone Authority)

The following is a Money Today Q&A with Commissioner Yun. In Part 2 of the interview, Dr. Yun shared his insights, thoughts, and plans.

Q. Please briefly explain IFEZ

IFEZ was designated “Korea’s first free economic zone” on August 11, 2003. At the time, no one could have imagined reclaiming the desolate West Sea mudflats and turning them into a global city.

Over the past 20 years, IFEZ has successfully transformed ‘Songdo, Yeongjong, and Cheongna’ into international cities with exceptional innovation and lifestyle.

Above all, we are proud of what we have achieved — our original goal of ‘attracting foreign investment’.

Last year, the environment for attracting domestic and foreign investment contracted due to the war between Russia and Ukraine, but we achieved $432 million in FDI, a 10.7% increase compared to 2022.

Large multinational corporations and research institutions were established, fostering a global startup ecosystem where international talents, including overseas Koreans, congregate and collaborate.

The role of IFEZ is crucial for the success of Incheon City’s 8th popularly elected core policies, ‘Global Top 10 Cities (New Hong Kong City)’ and ‘Jemulporn Renaissance’.

It is now time to lay the foundation for long-term, sustainable growth in the future.

Q. What needs to change to lay the foundation for sustainable growth?

So far, IFEZ has adopted the ‘linked development’ approach, which involves constructing profit-making facilities alongside public facilities. The profits generated from the development and land for private apartments and businesses have been channeled for public facilities such as parks and social infrastructure (SOC) for the city.

Significant progress has been achieved in developing infrastructure for smart and international cities through this interconnected method. However, the development is highly residential, which limits its ability to attract domestic and foreign companies for business and job creation.

Now that IFEZ is 20 years old, we aim to develop a new model that integrates linked development and investment attraction.

We will attract strategic industries to fulfill the core function of the free economic zone as a ‘global business hub’ and to advance in name and reality.

We need to provide a driving force for new industries, such as start-ups, and foster the AI ​​industry.

Q. The target for foreign investment attraction this year is set at $600 million. What is the strategy?

This year, we plan to expand our strategy to attract “global IR companies” and bring in more cutting-edge companies.

In addition, we will achieve this year’s target of $600 million by establishing a ‘Day Station Incheon Strategy’ where companies gather in Incheon.

We will take the lead in balancing development within the existing industrial complexes in the original city center of Incheon. To this end, we plan to strengthen our network by collaborating with the Korea Trade-Investment Promotion Agency (KOTRA) and the World Federation of Overseas Korean Traders Associations (World OKTA).

During the first half of this year, we are putting every effort into our high-tech industrial complex strategy in the bio-pharma sector.

We believe that Songdo, which already possesses world-class biopharmaceutical production capabilities, is the perfect match.

We are putting our efforts into attracting a bio-specialized complex to build a ‘Bio-Triangle’ connecting the Songdo-Namdong-Yeongjong region.

As the companies in Songdo possess advanced strategic biotechnologies, as noted by the Ministry of Trade, Industry, and Energy, I believe it is the most suitable region for the government’s industrial development.

Q. Why are you pursuing additional FEZ lands, including the southern end of Ganghwa and Incheon Inner Port?

Twenty years have passed since IFEZ was launched. As we enter maturity, investment demand is increasing, but available land is in short supply.

For a specialized bio hub complex to be constructed within IFEZ, like Songdo, additional land must be made accessible.

Currently, IFEZ’s development rate exceeds 90%. There is a lack of space to attract the four major high-tech industries that Incheon pursues.

In many cases, other countries and their competitive cities have available land and rival clusters. IFEZ must also be able to compete in high-tech industries, future mobility, cultural tourism, green bio, and smart cities. To achieve this, additional FEZ designation is essential.

Q. A red light has been turned on for large-scale projects that have stalled, including the Golden Terra City (formerly Midan City) casino project. How are you going to solve it?

I am aware of the concerns shared by the residents of Incheon. We are focusing our efforts on getting things back to normal.

Last March, the Ministry of Culture, Tourism and Sports did not extend the casino project development period applied for by RFKR, the Korean subsidiary of China’s Furi Group, the operator of the Midan City complex resort.

We will seek to develop alternatives to meet the expectations of residents.

In addition, the ‘Icore City Project’, which involves constructing landmark buildings in Zones 6 and 8 of Songdo and has been in consideration for 17 years since announced in 2006, has seen repeated delays. These delays have been due to financial crises, changes in local governments, and the ups and downs of the global economy.

We are currently discussing options and plans to resolve, for example, the height restriction issue with the relevant ministries.

Q. Inaugurated as the 8th Commissioner of IFEZ last February, what activities have you undertaken since taking office, and what kind of organization are you aiming to create in the future?

First, for over a month since taking office, I have spent my time reviewing major work in progress, and visiting the central Incheon City ministries, business sites, and related organizations. I have dedicated considerable time to communicating with shareholders to understand the current business issues better.

Internally, we are promoting the establishment of the ‘IFEZ Vision and Strategy 2040 Project’ that will drive future leaps forward.

We will, too, strive to create a productive and happy IFEZ organizational culture.

In the future, the goal is to make IFEZ a world-class global city that surpasses Dubai and Hong Kong. To this end, we will do our best to attract corporate investment, for example, by conducting ‘visiting investment IR’.

In addition, we will increase the city’s competitiveness so that IFEZ becomes a top free economic zone, creates good jobs, revitalizes the local economy, and serves as a model for a new growth engine for our country.

A Brief Bio, Dr. Wonsok Yun

Born in Chungcheongnam-do in 1960.

Graduated from Sungkyunkwan University, English Language and Literature, a Master’s degree from Seoul National University Graduate School, and a Doctor of Business Administration, from Sungkyunkwan University Graduate School.

Director of Economic and Trade Cooperation Division, Korea Trade-Investment Promotion Agency (KOTRA)

CEO, International Business, Hangul and Computer Group

Chairman of Global Industrial Competitiveness Forum

This article was originally published in the Korean language in the June issue of Leader’s Money Today, a legislative affairs magazine. Sang-gu Yoon, head of Incheon headquarters, Reporter Se-mi Hong.

The article has been translated and edited by Don Southerton. Dsoutherton@bridgingculture.com

Songdo and Bioclusters are Standouts

Songdo and Bioclusters are Standouts

Branding in Asia / Image by Edward Jenner

Hubs offers R&D and Manufacturing resources, expertise, and talent.

Always great to see media picking up. The topic centers on Foreign Direct Investment, which I craft content on Songdo, South Korea.

I’ve been asked how I support businesses… the short answer is I bring solutions to Korean global business, as well as, global firms working with Korea.

I, too, look for exciting opportunities, and challenges, so here if you have an impasse, stalled work, or a potential issue that needs to be resolved.

All said, here is this week’s look at global business with a Korean twist–as seen in Branding in Asia.

Globally biopharmaceutical companies look to advance the development of a molecule from the laboratory to the clinic and then the market as soon as possible. This must unfold without sacrificing product quality, process efficiency, or patient safety.

To achieve this goal, companies must navigate the complexities of business planning, cell line development, process development, technology, and regulatory and risk assessment. This takes the right mix of resources, expertise, and talent.

In this context, APAC nations South Korea and Singapore are standouts. Specifically, their biopharma hubs aim to provide essential research and development activities in the biopharmaceutical industry.

In many cases, this may be a biopharma scale-up lab with separate areas for cell-line development, media screening, clone selection, upstream and downstream process development, and small-scale production for 200L pre-clinical studies.

The hubs also include large-scale manufacturing facilities and the ability to provide end-to-end biopharmaceutical manufacturing services. This enables domestic and foreign companies to quickly enter the global biologics and biosimilars market while reducing the time it takes to bring their products to market.

Bioclusters offers world-class biopharmaceutical production capacity.

For example, as cited by Invest Korea industry-leading pharmaceutical companies like Saint-Gobain, Janssen Pharmaceutical, Celltrion, Samsung Biologics, Dong-a Socio Group, and Binex are all located in the Songdo Biocluster.

In turn, as noted by the Singapore Economic Development Board, pharmaceutical industry leaders like Pfizer, Novartis, MSD, Sanofi, AbbVie, and Amgen have established global manufacturing hubs in Singapore, where they develop a wide range of products.

Many are engaged in a range of services including Contract Manufacturing Organization (CMO) of biopharmaceuticals, or developing and producing biosimilars based on their proprietary technologies.

Contract Manufacturing Organization (CMO).

A contract manufacturing organization, or CMO, helps pharmaceutical and biotechnology companies manufacture innovative drug substances. Their offerings include commercial production, drug development, formal stability, formulation development, method development, pre-formulation, and registration batches.

The strength of these bioclusters, too, lies in their production capacity. The biopharmaceutical production capacity of Songdo is 560,000 liters going head-to-head with San Francisco (440,000 liters), Singapore (270,000 liters), and Ireland (230,000 liters).

Finally, as biopharmaceuticals are made from cell cultures, it is critical to import and export products before products deteriorate during the storage and transportation process.

This means there is a need for a nearby airport and port for transporting chilled goods and frozen logistics.

And we find again standouts–Korea with the Incheon International Airport and Singapore home to the Changi Airport—both with their state-of-the-art logistics.

Meanwhile, local government efforts are being made for Greenfield sites to create additional biocluster facilities.

What is a Greenfield?

The term greenfield refers to buildings constructed on undeveloped lands where there was no previous development–  that was, literally, green. The word green is also synonymous with the word new, which alludes to new construction projects. These greenfield developments are generally made by multinational companies that begin a new venture from the ground up.

To conclude, it is expected that within the next decade, the clusters in Korea, Singapore, and APAC will double to meet the growing global demand. Additionally, local governments will provide new support and incentives for domestic and international partnerships.

Many thanks go to Branding in Asia

https://www.brandinginasia.com/apac-bioclusters-are-standouts-in-biopharma-innovation-and-synergy

Songdo, An Urban Business Community

Songdo, An Urban Business Community
Photo by Don Southerton April 2018

Songdo International City

I have a long history supporting Songdo, an urban business community on the West Coast of South Kore

I recall an early visit to Incheon and what would be Songdo and looking out at acres of land reclaimed from the sea. Over time buildings, parks, and infrastructure soon emerged from the sand. The photo was a view from my Songdo office in 2018.

Stepping back some… the community, now called Songdo International City, was developed with Western amenities and covers roughly 1500 Acres complete with a Central Park, an international school, and a Jack Nichols-designed golf course–all within a short distance of the Incheon shipping port and the international airport.

It was also an early adopter of buildings with LEED certification, which provides a framework for healthy, highly efficient, and cost-saving green buildings. Plus, Songdo was seen as a frontrunner as a Smart City innovator. Today, it is one of 3 districts of the Incheon Free Economic Zone and home to the Incheon Global Campus.

Today, I am happy to continue to share and highlight Songdo

Question? Just ask. dsoutherton@bridgingculture.com

Songdo and the University of Utah

“Much like the Salt Lake campus, the Incheon campus is located right in the heart of a bustling city.”

Songdo and the University of Utah

Photo IFEZ

Nice mention of Songdo in The Daily Utah Chronicle. 

Songdo has many large businesses and it is very convenient to students, holding the popular term “Smart City” for being efficient in technology use. Business consultant Don Southerton wrote “Songdo’s development aimed to create an integrated 15-minute city, where people can access 90% of their daily activities by bike or public transportation in fifteen minutes or less.

As part of the Incheon Global Campus, Utah, is joined by SUNY, George Mason, GHENT and Stanford.  https://www.igc.or.kr

The article goes on to share… In addition to the University of Utah’s main Salt Lake City campus, there is a campus located in Incheon, South Korea. The U’s Asia Campus is conveniently located in Songdo, the business district. This provides students with not only a comprehensive learning experience but is also great for future career opportunities and internships.

Source: https://dailyutahchronicle.com/2024/04/25/gordon-study-at-the-us-asia-campus/

###

Foreign Direct Investment an Evolving Ecosystem

By Don Southerton

Foreign direct investment

I’m reposting my recent article in Branding in Asia.

Currently, FDIs in many markets are experiencing a global decline in funding. So, what are the best approaches markets should take for FDI 2024?

Foreign direct investment has become a cornerstone for governments and corporations looking to stimulate and sustain business growth. Foreign direct investment plays an important role on a macroeconomic and microeconomic level. We define foreign direct investment (FDI) as investment made by a company in one country into another country’s business or assets. FDI is a crucial aspect of international commerce, but it is also an evolving ecosystem that continues to change and develop over time.

Some key benefits of foreign direct investment include:

Economic Growth: Countries receiving foreign direct investment often experience higher economic growth by opening up to new markets, as seen in many emerging econom

Job Creation: Most foreign direct investment is designed to create new businesses in the host country, which usually translates to job creation and higher wages.

Technology: Foreign direct investment often introduces innovative technologies and creates hubs for technical expertise.

Stepping back between 2000 and 2008, the world saw an early growth phase in FDI. This was the peak time for global investment in FDI.

An Asia-Pacific (APAC) standout was South Korea’s Songdo International Business District (Songdo IBD). The project was a Joint Venture project I was engaged as a consultant and have continued to follow. Like other FDI of the period in the region, the 1997 Financial Crisis brought to the forefront the need for the APAC nations impacted to broaden their economies beyond domestic export-driven businesses

Economists recommended attracting foreign direct investments as a buffer against the potential impact of recessions and fiscal crises.

The Songdo vision in the early 2000s was to build an international business-friendly hub on the West coast of South Korea. The community with Western amenities was built on reclaimed land and covered roughly 1500 Acres complete with a Central Park, an international school, and a Jack Nichols-designed golf course–all within a short distance of the Incheon shipping port and international airport.

Over the years, Songdo IBD, now Songdo International City, has broadened beyond FDI to include residential, domestic companies, and NGOs. As part of the Incheon Free Economic Zone (IFEZ) which was created in 2003 and designated as Korea’s first free economic zone, today Songdo is one of three districts—along with Cheongna, and the airport’s Yeongjong International City.

Currently, FDIs in many markets are experiencing a global decline in funding. So, what are the best approaches markets should take for FDI 2024?

Over the years, the approach to international foreign direct investment (FDI) has evolved from a model solely focused on incentivizing foreign businesses to a more collaborative, synergistic, and dynamic ecosystem. This is observed in countries such as South Korea, Singapore, Vietnam, and Indonesia, as well as Ireland, the Netherlands, Latin America, and the Caribbean.

And, as noted by the World Bank, an exception to the downturn can be found in Greenfields–projects that require developing a new product or service from the ground up. Data shows this is the top area of FDI growth.

In turn, APAC markets like South Korea, Vietnam, and Singapore seek to position themselves as global hubs. Specifically for future industries such as bio-healthcare, smart manufacturing, high-tech finance and future robots, information and communication (IT), and artificial intelligence (AI) while making great strides in distribution, logistics, tourism, and MICE.

One takeaway does stand out—FDI is an evolving ecosystem that continues to change and develop over time.

https://www.brandinginasia.com/foreign-direct-investment-rooted-in-international-commerce-but-an-evolving-ecosystem

Smart Cities: A Tale of Innovation and Collaboration in South Korea

Smart Cities

Don Southerton takes a look at smart city development in South Korea.

https://www.brandinginasia.com/smart-cities-a-tale-of-innovation-and-collaboration-in-south-korea/

Smart Cities

Over the past nearly 20 years, I have been engaged in Smart Cities. This work has involved various Smart City projects. The first was the Songdo International Business District in Incheon, South Korea, and more recently—cutting-edge Smart City Platforms.

The concept of “Smart City” is an emerging technology that many local governments see as the future; however, few municipalities have a solid roadmap.

The term “Smart City” can be defined differently. Some envision a green and sustainable community that offers a life-work balance and implements cutting-edge technologies to achieve these benefits.

For example, Songdo, on the West coast of South Korea was built on reclaimed land and covers roughly 1500 Acres. Today, Songdo is a community of 167,000 residents located within one of three Free Economic Zones (IFEZ) in Incheon, South Korea. The project has been approximately 86% completed. Aside from residential areas, the location is also home to a Global Campus, Pharma Hub, Startup Center, and international organizations such as the Green Climate Fund.

Songdo’s development aimed to create an integrated 15-minute city, where people can access 90% of their daily activities by bike or public transportation in fifteen minutes or less.

In Songdo, traffic sensor data is utilized to regulate signal timing on the technical front, while household waste is directly transported from homes to waste processing centers through underground tubes.

Additionally, various apps assist residents in managing their daily lives providing them with information on bus schedules or checking on parking availability in the area.

That said, since these innovative systems were first offered, many new smartphone apps are now available across Korea and provide these and other digital services.

Today, there is a continuing effort to foster the development of Songdo as an urban district under the Incheon Free Economic Zone (IFEZ).

Dr. Won Sok Yun, who has been named the new Commissioner of the IFEZ) notes, “Over the next three years, I will aim to attract foreign and domestic investment in pharma and healthcare, tourism and leisure, and high-tech industries to create a ‘world-class city’.”

Smart City Platform

Recently, we are seeing the adoption of Smart City Platforms. These provide an integrated Geographic Information Systems (GIS) and Information and Communication Technology (ICT) platform. Plus, they offer municipalities some innovative urban solutions.

With the help of the Internet of Things (IoT) and AI, cities can enhance their emergency and fire response, traffic management, sanitation services, and facility maintenance. I’d add that it’s a tool for urban development and revitalization, and in some cases can enhance a city’s security.

Seoul, South Korea’s Smart City Platform is an example of successful integration. The system was developed between 2017 and 2019 to provide various services, including sophisticated drone defense monitoring.

The platform has been highlighted at recent Consumer Electronics Shows (CES) and gained global attention when it was modified during the COVID-19 pandemic to track real-time virus outbreaks.

In January 2024, neighboring Incheon’s Mayor Yoo Jeong-bok was quoted, “Building a smart city is a global challenge that all cities worldwide should aspire…. in collaboration with leading global companies and cities that possess state-of-the-art technology related to smart city construction.”

I agree that developing “Smart Cities” will require collaboration between private tech companies and local government. The mayor envisions building “eco-friendly smart cities centered around people’s needs.” This will address concerns about the ambiguous nature of the “Smart City” identity, which may mean different things to different groups.

The bottom line is that in discussions centered on “Smart Cities,” I suggest there is no one exact definition, however, the goal should be improved quality of public services and citizen welfare.

Incheon

Incheon is a city located on the northwest coast of South Korea and is home to a population of about 3 million people. Its suburbs are situated on the outskirts of Seoul.

Moreover, Incheon is home to South Korea’s primary international airport, the Incheon International Airport, serving as a gateway to northeast Asia.

IFEZ

In 2003, the Incheon Free Economic Zone (IFEZ) was designated as Korea’s first free economic zone. Within the Zone are three districts– Songdo, Cheongna, and Yeongjong International City.

Over the past 20 years, IFEZ has grown significantly and developed into a global city currently home to more than 400,000 residents, 3,300 businesses, 14 international organizations, and renowned foreign universities.

Don Southerton takes a look at smart city development in South Korea

https://www.brandinginasia.com/smart-cities-a-tale-of-innovation-and-collaboration-in-south-korea/

South Korea’s Free Economic Zone (IFEZ) Newsletter

South Korea’s Free Economic Zone (IFEZ)
Photo courtesy of IFEZ

South Korea’s Free Economic Zone (IFEZ) Newsletter shares how the district has positioned itself as the global hub for future industries such as bio-healthcare, smart manufacturing, high-tech finance and future robots, information and communication (IT), and artificial intelligence (AI) while making great strides as a hub for distribution, logistics, tourism, and MICE. #songdo

Please check out our Newsletter https://stibee.com/api/v1.0/emails/share/lp9zm4qG0yY9K45_RHds5rRVGh3ppNE

Questions? Please ask…. dsoutherton@bridgingculture.com

310–866–3777

Songdo: Korea’s Smart City

Fair article on Songdo International Business District.   All projects comes with some challenges… that said, Songdo tops my list for aspiring to be the City of the Future.

Songdo South Korea

Skyline

City of the Future

Check it out….

DS

Songdo in the News–Incheon and Songdo: Sub-National Economic Integration Efforts

As a longtime supporter of the Songdo project, we always have seen the Songdo International District ( the core of the greater Songdo FEZ which NY-based Gale International has developed) as a Hub for East Asia business…neat idea the area could be hub for eventually N-S commerce.

Songdo Peterson Institute

North Korea Blog

Incheon and Songdo: Sub-National Economic Integration Efforts
by Marcus Noland | May 13th, 2014

A few years back I was invited to participate in some activities sponsored by Gangwon province in northeastern South Korea, the traditional boundaries of which were split by the division of the peninsula. Officials were hoping that a reconnection of the east coast rail line would give the province an economic shot in the arm.

On the west side of the peninsula, officials have also been eyeing inter-Korean integration and the economic benefits that it could bring. According to a newspaper story passed along by Tom Murcott of Gale International, the developer of the Songdo “smart city,” back in 2008  local officials pushed for a traffic network expansion plan that would connect Incheon International Airport to Gangwha and Gaeseong Industrial Park as part of the Gangwha development plan. That integration would seem to make sense, especially if the October 2007 North-South summit vision of redeveloping Haeju ever came to pass.

With President Park’s renewed emphasis on unification, Incheon officials are dusting off the old plans. According to the report in the Incheon-based Kiho Ilbo, Incheon City has announced it will push ahead with the construction of an expressway from Yeongjong to Haeju of North Korea, the so-called “West Sea Unification Expressway.” Incheon City estimates KRW2.7 trillion of project costs will have to be spent on the 112km-long expressway.

Presumably the city doesn’t have that kind of cash laying around, and one would think that the national government might have something to say about opening up direct transportation links with the North, so don’t hold your breath.  Nevertheless, it’s a reminder that local officials have their own eyes fixed on North-South possibilities, and if North-South relations calm, Incheon and Songdo would be ideally placed to become the hub of North-South exchange.

###

Songdo International Business District: A Perspective

Perspectives from a speaker, humanitarian, and businessman who has made “shaping the world’s future” his lifelong passion.

Joseph Chung

Joseph Chung

by Joseph James Chung

Coming straight from my home in Silicon Valley, California, I arrived in Songdo hoping to discover the world’s most compelling city. You may ask, what might such a city look like? I was looking for a city that could support a collaborative international community capable of solving the world’s greatest challenges. An entire city well poised to help shape and implement innovative and practical answers to global issues such as finding a cure for cancer, eliminating extreme poverty, developing capable leaders, or constructing the most efficient educational models for people of all ages, is a compelling city to me.

I arrived in Songdo ready to put this new city to the test. Quite naturally, I applied a three step process. The first step was to identify the true intent of the people involved in its development. The second step was to reach out to the pioneers — the people working on the ground — of this community to see what type of response I received. The third step was to investigate the city’s infrastructure and practical matters such as size compared to demand, support for transportation and information flow, and geographic location.

Steps One and Two are integrally connected:
Identifying the true intent of people backing the city by reaching out and working with the pioneers of the community.

My questions were, “Is this city just a flash in the pan? Another glorified tool to obtain money from investors? A castle in the sky?”

Having worked with leaders from several industries and sectors and some of the top talent and faculty developing in the Harvards, Stanfords, Yales, Johns Hopkins’, and MITs of the educational world, and having built teams, organizations, and companies with these leaders, I felt prepared to begin looking for answers to my questions. My approach to answering questions did not include going straight to the people-at-the-top (Mayors, Directors, and Government Officials), who are often surrounded by the typical political and practical barriers people in their positions face. I figured at this point, there was little relevant information I could learn from them, which I couldn’t read on a website.

Thus, I jumped right toward the people doing the groundwork behind developing this city.

The first leader I met was Don Southerton, an American born and educated historian on South Korean business and culture. Don Southerton wrote the book on Songdo from a historical perspective, leading readers into its future vision. The first conversation I had with him was highly educated, inspiring and authentic. The articles and books he wrote came from a passion that money couldn’t buy. Not only this, but his passion came out in his willingness to point me along my journey to discover what Songdo is really all about. Whoever brought him on board was either very lucky or really cared about doing their homework.

The second leader I met was Dr. Jorge Nelson, an expert educator pushing the envelope in education that should have been pushed several decades ago. Of course, I learned that Dr. Nelson has been pushing the envelope on education for several decades indeed. His passion and abilities clearly shine through in a sector (education) that desperately needs it. With the jaw-dropping, highly qualified faculty team he leads, I would beg to be his next door neighbor and put my children through his school any day. I might even consider going through K-12 (what Dr. Nelson now calls K-100) again with him at the helm. As of now, I consider myself lucky to be teaming up with International School Songdo to develop model workshops led and created by facilitators from top Universities around the world. Whoever brought Dr. Nelson on board to become the Headmaster of International School Songdo was once again either extremely lucky or really did their homework to maintain the high quality touted as being the very fabric of Songdo.

The third leader I met was Michel Ouimet, a multi-faceted and talented visionary well grounded in the arts of wise long term and strategic short term investments. Yet his work does not stop with his immediate role as CFO of the International School, but is powerfully manifested through his passion to build a community. Everyone is invited to play basketball in the school’s state-of-the-art gym on Wednesdays, be a contributing musician during music nights in his apartment building, and many more community oriented events. At this point in my endeavor to find the world’s most compelling city, I began to believe maybe the creators of this city were onto something special. Maybe Songdo would truly grow into its role as a global leader. Or, maybe the people that brought Michel aboard were just really lucky again. But meeting Michel, after discovering Songdo and connecting with Don and Jorge, was like watching a grand slam in the first inning of the World Series. It was like watching a highly practiced and prepared team, coming powerfully together for the big opening.

Michel Ouimet, Dr. Jorge Nelson, Joe Chung

Michel Ouimet, Dr. Jorge Nelson, Joe Chung

Thus, I decided to pull the wild card. There’s no way a city with the slightest hint of inauthenticity could respond positively to this next move. I approached Songdo’s centrally located and first 5-star hotel with a request for a highly integrated, millenium-paced (meaning very fast-paced) partnership to help the city bring several world-class conferences to its doorsteps beginning as early as 2010. I did not think they would agree. Overstaffed and underoccupied given the timing of Songdo’s development, the Sheraton Incheon Hotel had already taken the necessary risks associated with being a first mover in a city that showed great potential. Therefore, either Sheraton’s investors were out of their minds or maybe they really actually knew what they were doing. Either way, if they had over-exerted themselves and weren’t focused on the main objective of a truly fast and successful launch, they would have easily overlooked my request and busied themselves within the much slower and traditional model of growth that all other cities and companies drably inspire from their people. Yet upon meeting with Sheraton’s head of Sales, Mun-Hee Park, and later the General Manager, Alain Rigodin, we began collaborating and I discovered the same common thread of passion-fueled movement integrated with reason-based action-planning truly existed within them, as it had within Don, Jorge, and Michel.

These five instrumental leaders gave me the confidence to wrap up the research completed for steps one and two. But the work was just beginning. In the very nature of conducting my research and being prepared to fully support a worthy endeavor, I was lucky to begin building a working relationship with these leaders and pioneers creating the city on a day-to-day basis. And in my line of work, coming across happy, inspired people working on the city means that the creators of this city have achieved no small feat in putting these teams together and creating these conditions for our success.

Step Three: Investigating the City’s Infrastructure.

Public Transportation and road infrastructure often reveals the first sign of weakness in a city. How fast and efficiently can you get around in this city? Unfortunately, the extremely critical and analytical portion of my research abilities were not able to find any weaknesses here. State of the art, near silent, subway lines, inside of state of the art (glowing light-bubbles included) subway stations, one-way fares equivalent to three US quarters, parks and open space encouraging walking instead of riding, a 20 minute bus ride to an International Airport where you can get to 1/3 of the world’s population within a 3.5 hour flight in any direction, taxi cabs arriving within 3 minutes of calling them (sometimes I think these cabbies have telepathy as they come zooming down the road 100 meters away, shortly after you call them), and my very favorite — the motion-detecting (only moving when you are on them) ultra-green, environmentally friendly escalators. Additionally, in future years there will be a high-speed train launched to transport people between Songdo and Seoul within 20 minutes.

Now onto observing supply as compared to demand in cities that have come from the ground up. With previous development of planned-cities, there have been few parameters in place to stop overbuilding. Some metropolises spread out of control. High supply, such as Dubai’s 70,000 units which came onto the market in late 2009 contributed to the current debt crisis occuring in Dubai today, which some experts estimate at up to $90B USD of troubled debts.

However, with Songdo, I have not observed over-building. The size of land in the main International Business District is limited, tightly knitted together and compact (though spacious with park space). The pre-planning and preparation of this city were unparalleled. Parties involved certainly completed their due diligence as they built Songdo.

Information flow in my version of a compelling, global city, is a must. Thus I will review language and technology.

Considering first the language of Songdo, my experience is that it truly is an English-speaking, International community. Of course Korean will be spoken widely but so far, I have not experienced an immediate need to learn the Korean language while working in Songdo. Other languages that I imagine will be used around the city, given its geographical location between China and Japan, are Mandarin, Japanese, and Cantonese. Once again, this mixture of languages and the International nature of the city, strengthens the necessity and usability of English as the main language used to get around in Songdo.

In terms of the technology backing information flow in Songdo, we are lucky to be sitting on the technological infrastructure created by Korea. People ride around on subways while having video phone conversations with each other or watching television on their handheld phones. This super high speed of data transfer can only mean one thing. Songdo city is extremely well poised to have its roots in Korean technology.

Enter companies such as Cisco. Cisco has developed dedicated lines for communication within the city of Songdo. Currently having implemented its best technology between important locations in the city, Cisco will be opening up the opportunity for people in Songdo to “telepresence” with each other and people and institutions from around the world. This instant form of communication can be likened to Skype Video conferencing x 100,000. These dedicated lines make it possible for data transfer at the speed of light from one point in the city or world to another. The technology behind this allows us to see even the most vivid details of the person you are communicating with and as you extend your boardroom, conference table, or dining table from Asia to Africa, India, Europe, North America, South America, or anywhere else in the world you’re looking to connect to. In Songdo, the world is truly at your fingertips.

Conclusion:

Others might glow red with instant content in a city that is abundant in wealth and profitability through the development of new technologies. But trust me, wealth and technology are just the beginning in a city like Songdo. Songdo is not a flash in the pan, it is not a glorified tool to obtain money from investors, and yet in a special way, it is indeed a castle in the sky. But this, I have found, is a very good thing. As Henry David Thoureau put it, “If you have built castles in the air… that is where they should be. Now put the foundations under them,” and that foundation is exactly what we as people, have the opportunity of becoming in Songdo. Afterall, people should be the very foundation of any community, and the fact that Songdo was built with this purpose in mind (that we have this opportunity to become the foundation of this new city), attains for Songdo’s initial creators my most sincere and appreciative thanks for having the audacity for such a vision and the ability to bring it this far.

I first journeyed here to find out if Songdo might be the “world’s most compelling city.” Call me over the top, but after doing my research “A new hope for humanity” is a much more accurate title for a city like this. You might soon find Songdo replacing San Francisco as my new “current city” on my facebook page (so long as my buddies in Silicon Valley can keep up as Facebook recognizes Songdo as one of the world’s newest major cities).

And, I would encourage anyone with an appreciation for advance, quality, community, true learning, adventure, and forward movement to come out and join me!