By Don Southerton, Songdo IBD CityTalk Editor and Chief Blogger
2009 is the Year of the Ox according to the Chinese zodiac. Koreans, too, follow the lunar calendar, but have rich, unique traditions regarding many of the 12 zodiac animals. A goal of this Blog is when appropriate to share some insights into Korean tradition and history.
For example, in Korea the ox was the symbol of the three main virtues – honesty, sincerity, and self-sacrifice. It works slowly, but steadily, and is always patient. Building a city like Songdo IBD is a slow, but steady process, too.
It is commonly thought that those born in the Year of the Ox are hard-working and loyal. They may be slow at times but they can be focused and determined once they put their mind to something. Such single-mindedness has lead to the expression “stubborn as an ox.” Moreover, there is a Korean idiom “reading the scriptures to an ox.” which refers to the pointlessness of trying to persuade someone who will not listen.
For more info and additional Genre artwork on Korea’s ox traditions, see LINK.
In his annual Chairman’s Message Stan Gale commented on past accomplishments, current challenges, and future opportunity. In sum, for 2009 Gale and Songdo IBD plan to go Full Speed Ahead.
Annual Message
Gale International Chairman Stan Gale expressed satisfaction from himself and CEO John Hynes that preparations in recent years have positioned the company well to weather the current global economic crisis.He expects 2009 to show continued progress on current projects and expects to capitalize on emerging opportunities as the need for large-scale urban development grows globally.
To our valued Employees, Investor and Development Partners:
Gale International traces its roots back to 1922, having pioneered innovative real estate developments in both up and down markets.The growth and evolution of our company is now focused on city scale multi use development.These business and living environments are designed to attract foreign investment and international commerce.They will serve as an engine for sustainable development and financial stability for the people and the markets they serve.As we look to the future, let me point to several areas of focus for our company.
Stay the Course
I encourage every Gale International employee, and our partners to continue to work “full speed ahead.”We are well positioned to keep projects underway and strengthen the economies in which we operate.Today, more than 20,000 people are gainfully employed, making a good living, as a result of our international initiatives.
Continued Project Progress
In the United States, plans for the 23-acre, $3 billion Seaport Square development in Boston are well underway, with construction work on the first mixed use block set to commence in mid-2009.Key leases are being negotiated and it is expected construction will start on the $700 million One Franklin project. We are also proud of our contribution in bringing the New York Jets training facility to Florham Park, New Jersey.
In Korea, work continues at an accelerated pace on the Songdo IBD. As you read this letter, over 30 projects and 50 buildings are underway representing an investment of over $10 Billion.A total of fourteen projects were started in 2008. This past October, we were proud to attend the opening of the Songdo Convensia convention center. Thousands of Korean and international visitors are getting a dramatic first look at Songdo IBD through the soaring windows of the Convensia lobby. The First World towers will welcome their first tenants in the first quarter of 2009 and tours are running through the Songdo International School. Preparation is well underway for Songdo IBD’s “Grand Opening,” which will coincide with the 2009 Global Fair and Festival and the opening of Incheon Grand Bridge, connecting Songdo IBD with the Incheon International Airport and the world beyond.
Focus on Sustainability
Gale International is committed to sustainable design and development.Sustainability means that Gale International projects will be more energy efficient, environmentally friendly and economically rewarding.Sustainability is proving to be a bulwark in a down market, maintaining market value as non-sustainable project returns erode.We are dedicated to enhancing the ability of our developments to carry themselves from both a revenue and long term cost perspective.
Partnerships for Global Expansion
The sustainability initiative has also allowed us to assemble an impressive list of strategic alliance partners.Business relationships have been forged with global leaders; companies like UTC, 3M, Microsoft and GE. This is in addition to existing partners Posco E&C and LGCNS.In 2008, we created the Sustainable International Development Team (SIDT).This includes a comprehensive list of investment partners, architects, engineers and consultants.Quality of life partners like Taubman and Jack Nicklaus also play an important role in the SIDT.The stated mission of the team is to dedicate its collective expertise to reduce the cost and development time of state-of-the-art sustainable city scale projects around the world.
Alignment of Interests
Periods of downturn often have the positive effect of aligning interests.We are committed to improving communication with our public and private sector partners to identify opportunities to ensure continued business growth.Every aspect of operations is being examined and evaluated.Our partners are doing the same.We see positive signs that the communities in which we operate are equally committed to keep the momentum gained to date going, despite economic challenges.For example, the city of Boston recently pronounced its intent to invest in local projects identified as crucial to the success of the city’s redevelopment initiatives.Our One Franklin (Filenes) project was singled out by Mayor Thomas Menino as a project particularly worthy of community support.No doubt, continued public sector support and local investment in our projects both in the US and in Korea will help to jump start slowing economies and spur job growth.
Gale International: 2009 and Beyond
As a result of the impressive progress in Songdo IBD, Gale International is considering development opportunities for future city scale projects.Enlightened government officials in burgeoning and evolving nations like China, India, Ireland, Saudi Arabia, Iraq, Vietnam and Turkey are assuming a proactive leadership role in the creation of new urban models.The Songdo IBD experience and SIDT make Gale Internationaland our partners uniquely qualified to assist in these developments.
The projects Gale International is proud to work on every day are not conceptual; they are thriving developments which present a unique, opportunity to set the standard for how future cities should be constructed.They are playing an important role in the evolving global economy.In this time of inertia, there is a distinct need for action.No doubt, there are many opportunities ahead for Gale International, our investors and development partners.From here we go “Full Speed Ahead.”
Chinese Media notes… Gale International is a large-sized & high-end international real estate development and investment company, with its representative projects including Seaport Square and Franklin Street in Boston, and Songdo International City in Korea. Last September, Secretary Zhang Chunxian paid a special visit to the Songdo International City in Korea, and sincerely invited Gale International to invest on projects of the same kind in Hunan, after which, the two parties began with the advance-phase preparation for the cooperative project of Changsha Meixi Lake Sci-Tech Innovation Center.
Zhang warmly welcomed Chairman Stanley Gale and his delegation. Zhang said that the concept of ecological and excellent life of Songdo International City in Korea had greatly impressed him. Nowadays, Hunan is facing up a great and precious opportunity, that is, Changsha, Zhuzhou and Xiangtan have been approved as China’s Comprehensive Reform Pilot Area of ‘Two-oriented’ Society construction. Hunan is making use of its advantages in geography, scientific research and market consumption as well as the sound natural scenery to step up the research on and development of Changsha Meixi Lake Sci-Tech Innovation Center, aiming at a first-rate international center featured by the research and development of high-end technology, and an international ecological & innovative city with multifunction of modern business, top-grade housing, leisure and vacationing.
Hunan warmly welcomes the Gale International to join in the investment and construction of Meixi Lake Project, to whom, Hunan provincial CPC committee and Hunan people’s government will grant full support, said Zhang.
Chairman Stanley Gale said that he led his advisory group to Changsha for a field investigation on the Meixi Lake Project for more substantial progress. He said that he is also expecting to establish a long-term cooperative relationship with Hunan.
Chen Run’er, member of the Standing Committee of the Hunan Provincial CPC Committee & secretary of the Changsha City CPC Committee accompanied the meeting. Source: www.hunan.gov.cn
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?
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.
SONGDO, Incheon – The mercury dips below zero, and a cold wind hits your face hard.
The wintry marine weather makes itself felt on every inch of the deck as the boat navigates the waters off the West Coast.
The usually 30-minute journey sometimes turns into hours if rain, snow or strong waves come. It seemed a hard enough trip in itself when a reporter took it last Tuesday.
To Chung Myung-hyun, a 31-year-old assistant manager at Samsung Engineering and Construction, it is the only means of commuting to work, and he has repeated it twice a day over the past three and a half years.
Chung works as a main construction field manager in the middle of the sea near this Incheon district.
He is leading the effort to build the longest-ever cross-sea bridge in Korea. His hard work is slowly coming to an end, and the fruit it will bear is great.
The Incheon Bridge, construction of which began in July 2005, is scheduled to be finished by October of this year. It will be the fifth-largest cable-stayed bridge in the world.
“At this pace, we think we will be able to finish this one month earlier than scheduled,” Chung said, turning his eyes toward the massive bridge as it emerged on the horizon.
On Dec. 16 of last year, an 800-meter (0.5-mile) section between the bridge’s two main towers was connected, completing a 12.3 kilometer over-sea section.
The entire bridge will be more than 21.27 kilometers long.
Unlike the proposed Alaskan “Bridge to Nowhere,” the Incheon Bridge definitely has a point.
Linking the Incheon International Airport on Yeongjong Island and the international business district of New Songdo City, the bridge has grabbed the attention of many locals for its potential to improve logistics in the metropolitan area, turning Korea into the Northeast Asian economic hub the government has long pursued.
People, including those who have worked on the bridge construction, say it serves as a source of hope, which Korea and many other countries are short on these days amid the biggest economic crisis in decades.
“What we are building is not just a bridge, we are building hope,” said construction worker Eom Sang-hyun, 51, while he cleared away machinery from the completed over-sea section.
Some believe that the project will go a long way to reviving the Korean economy, given the enormous resources poured into it.
According to the Samsung Joint Venture, a group of seven local builders formed for the project and led by Samsung Engineering and Construction, more than a million people have been mobilized for the project each year since construction began.
The number of pieces of heavy machinery used on the site has reached 100,000, including 27,500 large cranes and 52,000 tugboats.
The total length of steel rebar used is 127,000 meters, enough for 7,500 apartment units.
“Many of the workers here have sacrificed their time with their families for this project, but they think it’s worthwhile,” Chung said.
“We believe that this bridge, the world’s fifth-largest, will contribute to brightening the future for Korea,” he added.
Chinese mayor and guests tour Classroom of the Future
On December 11th, two tours of the Songdo International School (SIS) were hosted by Gale International on the site in Songdo. In the morning the general manager of Microsoft Research – Beijing and team were given a tour of the entire IT/CCTV/Cable/broadcast TV infrastructure of the SIS campus. This tour was designed for them to get a glimpse of the state-of-the-art technology already in place at the school. They mentioned how impressed they were by the huge investment in IT and went away with a bigger picture of how SIS is truly going to become the Most Ideal Environment (their words) for Microsoft’s initiatives in international education.
In the afternoon a large tour group from China arrived in two buses at the school. They were escorted by Chairman Stan Gale into the SIS Classroom of the Future, where they learned about student-centric, personalized learning that SIS will offer to all students K-12. The SIS team presented the concept of School 2.0 – how children who attend SIS will be learning in small, collaborative groups with teachers who are Guides by the Side, not Sages on the Stages. The SIS team is using best practices as identified by Clayton Christensen, Harvard Business School professor who has recently published a very successful book about where education should be heading.
See HBS publication http://hbswk.hbs.edu/item/5978.html for more info. Note Learning-centric (left) and Teacher-centric (right). Click to zoom.
Chinese mayor and guests tour Classroom of the Future
We want everyone in Korea to feel proud of Songdo IBD and visit often, if not live there. There are going to be many opportunities for all residents and guests throughout Songdo IBD as the quality of life amenities are world-class and available for everyone to enjoy. Songdo IBD is rising more and more everyday and we want everyone to know they are welcome to share in the realization of this dream of the City of the Future now – in Incheon – rising along the Western Sea of Korea.
For example, the 100-acre Central Park is beginning to take shape with the salt water canal going in and the bike and walkways being surrounded by freshly-transplanted pines (Songdo means pine forest in Korean). Electric water taxis will ferry folks up and down the canal, passing by the Ecotarium and Museum along the banks as well as arriving at either the Cultural Center at one end down by the sea shore or at the North East Asia Trade Tower at the other up at the central business district. The environmental sustainability of the park is evident as the recovery of rainwater will be used for irrigation in the forest and gardens located there. And, the 2500 space parking garage is entirely underground to help keep the idyllic nature of Central Park pristine and quiet – a peaceful place for respite in the center of the bustling city.
Across from the Central Park is the Taubman Shopping Centre – designed by Studio Daniel Libeskind and interior by Benoy – which will bring the first regional shopping centre experience to Korea. Lotte department store, Megabox cinemas, and HomePlus hypermarket are signed up as anchor stores, already occupying 70% of the 1.1 million sq. ft. leased space and approx. 160 more stores will soon follow. Inside the Taubman Shopping Centre one major amenity – the ice rink (also available as a venue for 3000 visitors for car shows, fashion shows, etc.) will feature an hourly original free interactive multi-media show for shoppers to experience during the grooming of the ice.
Transportation to and from Songdo IBD will be easy and inexpensive to access as there are three major subway stations in the IBD as well as city buses, taxis, bike paths and underground parking for thousands of cars. The city is designed for pedestrians in mind so strolling around the master-planned city of architectural wonders will be an enjoyable activity in itself.
Songdo IBD is a city that is open to all Koreans and will soon become the pride of Korea as the gateway to Northeast Asia. The smorgasbord of amenities are world-class and the open air feeling, the beauty of the buildings and the easy access to the entire city is inviting, enjoyable as well as environmentally sustainable. It is our hope to create many lucrative opportunties for good jobs for Koreans to work and live in Songdo IBD. As you look around now and begin to see all the quality of life investments and improvements made already, you can see that we are well on our way in fulfilling that promise to Korea and her people. Do stop by soon and see for yourself how Songdo IBD welcomes all people to live and thrive together in an ideal urban setting.
The “Good Market” event in the Incheon Convensia on Saturday Dec 13th was highly successful thanks to help from The American Women’s Club, Gale International Korea, Posco E&C, Beautiful Store and G-Spirit Global Ambassadors and Scholars. Over 800 residents showed up to contribute to this wonderful charity event. Many came to learn about environmental sustainability and to practice their English skills. A good time was had by all and a considerable amount of money (still counting the receipts) was generated for a very worthwhile cause. We hope the participants enjoyed the events as much as the volounteers.
