Therme Group Signs Agreement with Incheon Free Economic Zone (IFEZ) Authority for Therme Korea–Incheon

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NEW YORK, NY – September 30, 2025 – Therme Group, a global leader in urban wellbeing destinations, today announced the signing of an agreement with the Incheon Free Economic Zone (IFEZ) Authority to develop Therme Korea–Incheon, a world-class wellbeing resort in Songdo, Incheon, South Korea.

The landmark destination will be located within Songdo Golden Harbor, a 427,000 square meter commercial district in Songdo’s International Business District. The site is envisioned as a comprehensive tourism and leisure complex featuring hotels, condominiums, shopping, and access for both cruise ships and car ferries, making it a key strategic location for Therme Group’s expansion in Asia.

© image courtesy of Incheon Free Economic Zone Authority

“South Korea is an important market for Therme Group as we continue to scale unique wellbeing resorts in major cities around the world. With IFEZ Authority’s visionary support and Songdo’s international profile as a leading smart city, Therme Korea–Incheon will offer a world-class wellbeing destination – an ideal retreat for business travelers, a must-visit for tourists, and a vibrant hub for the local community.”

Dr Robert Hanea, CEO of Therme Group

The Therme Korea–Incheon site will span approximately 99,041 square meters across two commercial land parcels. The resort will feature Therme’s signature nature-integrated design, centered around year-round indoor facilities including spa, waterpark, and wellness experiences, all housed within an architecturally distinctive glass structure.

© image courtesy of Therme Group Korea

Key features of the resort will include:
·     Expansive botanical gardens with more than 1,700 palm trees and 800,000 plants
·     Advanced water purification with ozone water treatment technology and air filtration
·     Dome-style architecture that supports operations 365 days a year
·     A vibrant urban oasis that contributes to the city skyline

The project’s development follows an initial Memorandum of Understanding (MOU) signed between Therme Group, IFEZ, and the City of Incheon during an investment promotion seminar in Frankfurt, Germany, on November 17, 2022. Subsequently, IFEZ acquired two land plots from the Incheon Port Authority to secure the development site. IFEZ will present the land lease contract for final review by Incheon City’s Public Property Review Committee.

“This business agreement elevates IFEZ’s value as a global complex city. Therme will go beyond being a tourism facility and become a landmark representing Songdo, injecting new vitality into the regional economy. We will provide full administrative support to ensure the project’s success.”

Yoon Won-Seok, Commissioner of IFEZ

“This is more than a project. This agreement is the cornerstone of the wellbeing future in the Republic of Korea—anchored in trust, guided by vision, and dedicated to building a healthier future for all. “함께 가면 멀리 간다.” - If you go together, you will go far. Together, let us walk this path and create something unique for Incheon and Korea.”

Kim Insook, COO of Therme Group Korea

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