Incheon has the second-largest economy among South Korean cities, with a gross regional domestic product (GRDP) of KRW 126 trillion. Its economy has recorded an average annual growth rate of 5.3% over the past three years, the highest in the country. With Incheon International Airport and Incheon Port as its key assets, Incheon has established strong competitiveness in aviation and maritime logistics, positioning itself not only as South Korea’s gateway to the world but also as a global hub for logistics and transportation.
In particular, Incheon has steadily developed new sources of future growth, centered on the Incheon Free Economic Zone (IFEZ), which encompasses Songdo, Cheongna, and Yeongjong. Songdo has grown into a world-class bio-industry cluster, while Cheongna and Yeongjong are developing into hubs for future industries, including smart cities, advanced technologies, and aviation and logistics. Building on these strengths, Incheon is advancing as a global innovation city encompassing advanced and knowledge-based industries and future mobility.
Photo: Incheon Metropolitan City - Ho Chi Minh City MOU Signing / Incheon.go.kr
Incheon Metropolitan City and Ho Chi Minh City have steadily built mutual trust and friendship through many years of exchange and cooperation. The two cities have expanded practical cooperation across a wide range of areas, including public administration, the economy, urban development, healthcare, and people-to-people exchanges, working together to achieve tangible outcomes that benefit their citizens. A notable milestone was the signing in 2017 of a Memorandum of Understanding (MOU) on strengthening friendly cooperation between the People’s Council of Ho Chi Minh City and the Incheon Metropolitan Council. The MOU established a foundation for exchanges between the two city councils, as well as for sharing experiences and policies in legislation and urban management.
Healthcare cooperation, in particular, stands out as a meaningful example of how the partnership between the two cities has deepened over the years. In 2018, 2019, and 2023, medical teams from Incheon visited Ho Chi Minh City and provided medical care to a total of 80 children with heart disease. Of these, 12 children were invited to Incheon to receive treatment. This medical support represents an exemplary case of humanitarian cooperation, providing tangible assistance to citizens based on the trust that the two cities have built over the years.
The two cities have also steadily expanded exchanges among their public officials. Officials from Ho Chi Minh City have been invited to Incheon to learn about the city’s municipal administration and urban development practices, while officials from Incheon have visited Ho Chi Minh City to gain firsthand insight into the city’s development. These exchanges have provided valuable opportunities for both cities to share their respective experiences and strengths, while further deepening mutual understanding and strengthening cooperation.
The two cities have also made meaningful progress in public diplomacy and humanitarian cooperation. In July 2024, through a cooperation program between the Red Cross organizations of the two cities, they undertook a range of humanitarian assistance initiatives, including support for vulnerable groups, disaster relief, and community healthcare. These efforts have further broadened the scope of people-centered exchange and cooperation between the two cities.
With a shared commitment to the prosperity and sustainable development of both cities, Ho Chi Minh City is expanding strategic cooperation with its partners in Incheon across five priority areas within the framework of the Ho Chi Minh City Friendship Dialogue 2026 (FD 2026):
Logistics and Gateway Infrastructure: Cooperating on smart port planning, airport logistics infrastructure and services, and international multimodal transport supply chains.
Free Economic Zones and Smart Cities: Attracting investment and adopting the management and operational models of Free Economic Zones in sustainable urban planning.
Biopharmaceuticals and High Technology: Welcoming Incheon corporations to invest in the Saigon Hi-Tech Park (SHTP) in biopharmaceutical production, precision medicine, and semiconductors.
Digital Transformation and Urban Management: Applying digital technology solutions to traffic management, environmental protection, and e-government development.
Healthcare and Humanitarian Cooperation: Continuing to develop community healthcare projects, exchange medical expertise, and expand sustainable social security networks.