Economic Policy & Trends
- Economic Policy & Trends
Yeongjong-gu lands Korean Air MRO cluster, lays groundwork for ‘airport economy capital’ with 150 billion won investment
Incheon's Yeongjong-gu District (Mayor Son Hwa-jeong) is moving to flesh out its vision of "Yeongjong, Korea's airport economy capital," using Korean Air's planned aircraft maintenance, repair and overhaul (MRO) cluster as a springboard. M…
- Economic Policy & Trends
Yeongjong-gu opens 681-meter Wangsan Beach coastal road, fulfilling longtime resident request
Yeongjong-gu District (Mayor Son Hwa-jeong) in Incheon said on the 23rd that it has finished building a coastal road that residents around Wangsan Beach had long requested, and that the road will fully open to traffic. The new road is 681 …
- Economic Policy & Trends
Incheon-Democratic Party Budget Policy Council… Cooperation to Secure National Funds, Resolve Pending Issues
The Incheon Metropolitan Government (Mayor Park Chan-dae) and the Democratic Party of Korea have agreed to strengthen cooperation to secure next year's national funding and resolve regional pending issues. On September 22, Mayor Park Chan-…
- Economic Policy & Trends
Jemulpo-gu District Applies for Designation as ‘Preemptive Response Region for Industrial Crisis’ to Address Steel Industry Downturn
Jemulpo-gu District (Mayor Kim Chan-jin) and the Incheon Metropolitan City government officially submitted an application to the Ministry of Trade, Industry and Energy on the 21st, requesting that the district's steel industry be designate…
- Economic Policy & Trends
Incheon City Holds First Fiscal Strategy Meeting, Signals ‘Belt-Tightening’ Austerity
The Incheon Metropolitan Government held its first fiscal strategy meeting since the launch of the Park Chan-dae administration to discuss the direction of its budget planning for fiscal 2027. The meeting diagnosed the recurring structure …
- Economic Policy & Trends
Life After PBS Abolition… Vice Minister Koo Hyuk-chae of MSIT Strengthens Communication with Research Community
Koo Hyuk-chae, First Vice Minister of the Ministry of Science and ICT (MSIT; Deputy Prime Minister and Minister of Science and ICT Bae Kyung-hoon), attended a labor-management communication workshop hosted by the National Union of Public S…
- Economic Policy & Trends
Incheon Holds Investment Briefing for Overseas Korean Business Leaders in Tandem with World Korean Business Convention
The Incheon Metropolitan Government (Mayor Park Chan-dae) will host the 2026 Incheon Metropolitan City Investment Briefing at 11 a.m. on September 30 in the Premier Ballroom of Songdo Convensia, targeting overseas Korean business leaders f…
- Economic Policy & Trends
Policy Finance to Sharply Expand Support for Early-Stage Startups and Small Businesses
The Financial Services Commission (FSC) held an event on September 21 at the Industrial Bank of Korea to sign a memorandum of understanding (MOU) aimed at helping early-stage innovative startups grow, followed by the 14th Policy Finance Su…
- Economic Policy & Trends
Government Freezes 10th Oil Price Ceiling at 1,784 Won per Liter for Gasoline
The Ministry of Trade, Industry and Energy (Minister Kim Jung-kwan) announced that the 10th oil price ceiling, effective for four weeks starting at midnight on September 19, will be frozen at the same level as the preceding 9th ceiling. Al…
- Economic Policy & Trends
South Korea Sets 2027 Minimum Wage at 10,700 Won per Hour
South Korea has set its minimum wage for 2027 at 10,700 won per hour, an increase of 380 won from this year. The Ministry of Employment and Labor finalized and announced the 2027 minimum wage on August 5. The new rate represents a 3.7 perc…
