Simplify the following text for a Grade 11 native English-speaking person.
Original: To become an international economic hub and a center of business and service industry of Asia , Incheon is developing free economic zone in the three regions of Songdo , Cheongra , and the island of Yeongjong .
Simplified: The Incheon Free Economic Zone consists of the three regions of Songdo , Cheongra , and the island of Yeongjong , and has a total area of 51739 a. The goal of IFEZ is to transform these three areas into hubs for logistics , international business , leisure , and tourism for the Northeast Asian region .