Incheon Global Campus is a national project established by the Korean government and Incheon Metropolitan City, to innovate the education system of Korea and to nurture next generation of global leaders in the fields of education, economics, industry, culture and arts. With an investment of USD 1 billion, the global campus will host ten of the world’s prestigious universities.
Universities at IGC are “extended campuses” of which graduation assessment and educational management are run by their home campuses. The home campuses are also in charge of appointing faculty members, and students spend one year at the home campus to complete their degrees. Upon graduation, students are awarded the same degree as their counterparts at the home campus.
Songdo International Business District (Songdo IBD), part of the Incheon Free Economic Zone, is a smart city or "ubiquitous city" built from scratch on 600 hectares (1,500 acres) of reclaimed land along Incheon's waterfront. It is connected to Incheon International Airport by a 12.3-kilometre (7.6 mi) reinforced concrete highway bridge, called Incheon Bridge.
The Songdo International Business District will feature the Northeast Asia Trade Tower and the Incheon Tower. Schools, hospitals, apartments, office buildings and cultural amenities are to be built in the district. Replicas of architectural hallmarks, including New York City's Central Park and Venice's waterways, will also be incorporated. Songdo is a 10-year development project, estimated to cost in excess of $40 billion, making it one of the most expensive development projects ever undertaken. With the mix of foreigners from various cultures, Songdo is becoming one of the leading education and technology hubs over Asia.