by The infrastructure for K-pop cultural facilities will be expanded in the Incheon Free Economic Zone.
The Incheon Free Economic Zone Authority announced on the 11th that it had signed a business agreement for cooperation with the ‘K-pop Future Entertainment City Consortium’ composed of large domestic agencies at G Tower in Songdo International City on the 10th.
Large domestic agencies such as SM Entertainment, JYP Entertainment, and FNC Entertainment participated in the consortium.
According to the agreement, the Economic Administration and the consortium will expand K-pop cultural facilities and develop various cultural events using content. In addition, the consortium establishes a business plan using the experience and network of the Hallyu industry, and the Incheon Economic Administration supports administrative tasks such as business plan review.
An official from the Incheon Economic Administration said, “This agreement is to realize a cultural hub city and a city leading the 4th industrial revolution centered on the metaverse and K-pop contents within the Incheon Free Economic Zone. We will increase our competitiveness,” he said.
The agreement was attended by Lee Won-Jae, head of the Incheon Economic Administration, Byun Sang-bong, vice president of JYP Entertainment, Lee Seong-soo, SM Entertainment CEO, Cha Jun-young, KSC Holdings CEO, Ahn Seok-jun, FNC Entertainment CEO.
Commissioner Lee Won-Jae said, “K-pop and K-culture are attracting attention from people worldwide as representative Hallyu contents with global competitiveness.
