- IFEZA announces that “Asan Medical Center Consortium” was selected as the preferred bidder

- Cheongna Medical Complex Town will create synergy in creating a medical complex city by strengthening global competitiveness

In July, the “Asan Medical Center Consortium” that HDC Hyundai Development Company participated in was selected as the final choice for the preferred bidder for Cheongna Medical Complex Town that will be built on an area of approx. 260,000 ㎡ in Incheon Free Economic Zone (IFEZ).

Cheongna Medical Complex Town is a large-scale project with a total expenditure of KRW 2.4 trillion on 261,635 ㎡ of land at Seo-gu, Cheongna International City, Incheon, with the plan to build a general hospital with more than 800 beds, medical and bio-related industrial facilities, research institutes, business facilities, studio apartments, elderly welfare housing and more. A considerable amount of synergy is expected as Incheon becomes equipped as a cutting-edge medical complex city.

The “Asan Medical Center Consortium” is comprised of Asan Medical Center, one of the best hospitals in Korea, Hana Bank, KAIST, KT&G, HDC Hyundai Development Company, Woomi Construction, DOWOO, and ActnerLab. The “Asan Medical Center Consortium” plans to develop a top global level infrastructure to treat critically ill foreign patients and train foreign medical teams in Cheongna International City. To strengthen the international competitive power of Korea in the medical and bio-related fields, they will also establish Asan Medical Center at Cheongna at the Seoul Headquarters level, adopting its treatment, training, research and coexistence methods to the core.

To accomplish this, with the goal of becoming a globally competitive quaternary hospital, Asan Medical Center will build an Organ Transplantation Center and Cardiovascular Center for the professional treatment of each specific disease of critically ill foreign patients and patients within the Incheon area. They will also adopt a new generation cancer treatment equipment called a Heavy Ion Medical Accelerator worth KRW 300 billion, and create a simulation center to teach Asan Medical Center’s clinical know-how to medical teams in Incheon and overseas. In addition, KAIST and Massachusetts General Hospital of Harvard Medical School (MGH) will be in conjunction with Asan Medical Center to establish “Life Science Park,” a smart research center that will act as an R&D hub within the medical complex town, taking on the pivotal role of developing a bio start-up ecosystem.

The “Asan Medical Center Consortium” will sign a business agreement by November this year with Incheon Free Economic Zone Authority (IFEZA), the competent administrative office. They are setting plans with the goal to begin construction in September 2023 after drawing up a contract for the sale of the property and licensing process.