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Richard C. Kessler, chairman of U.S. hospitality group The Kessler Collection, speaks during an interview with AJP on Jan. 21, 2026. AJP Yoo Na-hyun |
Cheongna, a 10-minute drive from South Korea’s main gateway at Incheon International Airport, provides the foundation for the $1.4 billion I-CON City project, according to the American developer behind the plan.
“This is not just about housing. It’s not just about retirement, a museum or entertainment,” Richard C. Kessler, chairman and founder of U.S. hospitality firm The Kessler Collection, told AJP on Wednesday after signing a memorandum of understanding with the Incheon Metropolitan Government and Korea Land and Housing Corp. (LH).
“It’s about all of those things coming together to create something you don’t find everywhere,” he said, describing I-CON City not as a conventional real estate development but as an evolving experiment that blends culture, research, entertainment and community.
Founded in 1984, The Kessler Collection operates art-driven boutique hotels in cities such as Savannah and Orlando, with 11 properties across the U.S.
After 55 years in real estate, Kessler said, the logic was simple.
“Location, location, location,” he said. “This site has all three.”
I-CON City, short for Incheon Contents City, also reflects the ambition to create a truly “iconic” destination in the capital region.
“Creativity gives energy to everything,” the hotelier said.
Officially named the Cheongna Culture and Tourism Complex, the project is being developed jointly by Incheon City, The Kessler Collection and LH, with completion targeted for 2031. The development will integrate cultural, tourism, business and residential functions, according to the city.
“That’s really critical to what we are trying to build here,” Kessler said, citing the group’s experience with adaptive reuse projects such as the Plant Riverside District in Savannah, Georgia. There, a former power plant was transformed into a major tourist destination by preserving industrial elements such as generators and smokestacks, creating a space where history and cultural arts coexist.
At the heart of I-CON City is the diversity of function. Rather than focusing on a single purpose such as housing or tourism, Kessler said the project aligns with Incheon’s broader push to develop a “K-Con Land” across Cheongna, Yeongjong Island — home to Incheon International Airport — and Songdo, linking multiple interests into one organically growing urban space.
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Graphics by AJP Song Ji-yoon |
“That park is the heartbeat of the entire project,” he said. “It’s where culture, technology, people and ideas come together — a place that can continue to evolve over time.”
The name Durumi Park carries historical significance. Cheongna was once a natural wetland where red-crowned cranes — a protected natural monument in Korea — migrated and wintered before large-scale urban development reshaped the area. Although land reclamation eliminated much of the original habitat, the crane remains a powerful symbol of Cheongna’s ecological heritage.
Nearby, the Starfield Cheongna complex — combining a domed stadium with large-scale retail and leisure facilities — is under construction and scheduled for completion in 2027.
Kessler emphasized that I-CON City is designed to attract an international audience, particularly from across Asia. Research-oriented office space, a 5,000-seat entertainment complex and an outdoor amphitheater are intended to draw visitors well beyond the local community.
“This is not a local show,” he said. “It’s something people will travel to experience.”
Another distinctive feature is the project’s approach to senior housing. Rather than viewing retirement as withdrawal, Kessler said the development aims to attract experienced professionals and global talent who can actively contribute to research, cultural programming and community life.
“There’s a lot of wisdom in that group,” he said. “And that wisdom can add real depth to this project.”
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Richard C. Kessler, chairman of U.S. hospitality firm The Kessler Collection, speaks during an interview with AJP on Jan. 21, 2026. AJP Yoo Na-hyun |
“K-pop is one story the world still doesn’t fully understand,” he said. “There are many others — technology, shipbuilding, creativity — that Korea can tell in a very compelling way.”
One centerpiece is a planned concert hall featuring hologram performances by past and present stars on a rotating basis. For fans, the show would not depend on comeback tours or overseas schedules — it would, in theory, always be on.
Ultimately, Kessler said, the goal is for I-CON City to serve as a model for future developments — flexible, adaptive and open-ended.
“This is an experiment,” he said. “But it’s the kind of experiment that can uncover opportunities developers may not have seen before.”
Kim Hee-su Reporter khs@ajupress.com
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