Economic Policy & Trends
- Economic Policy & Trends
Chuseok Farm and Livestock Discount Support Expanded to 149 Billion Won, Cuts of Up to 70%
The Ministry of Agriculture, Food and Rural Affairs (Minister Song Mi-ryung) is expanding its farm and livestock discount support to 149 billion won, roughly three times larger than last year, to ease the burden of holiday food prices ahea…
- Economic Policy & Trends
Jemulpo-gu District Launches Local Tax Review Committee, Appoints 14 Experts
Jemulpo-gu District in Incheon (Mayor Kim Chan-jin) has newly formed an advisory body aimed at enhancing the fairness and expertise of local tax administration. The district announced on the 9th that it held the "2026 Jemulpo-gu Local Tax …
- Economic Policy & Trends
Incheon Tops 7 Trillion Won in State Funding for Next Year — Largest on Record
Incheon Metropolitan City has secured 7.0863 trillion won in national funding under the central government's budget proposal for next year, breaking into the 7-trillion-won range for the first time in its history. The amount exceeds the ci…
- Economic Policy & Trends
Science Ministry Begins First Review of Large-Scale ‘Infrastructure-Type R&D Projects’
The Ministry of Science and ICT (Deputy Prime Minister and Minister Bae Kyung-hoon) convened the first review committee for infrastructure-type research and development projects on September 4 and selected five projects for project-impleme…
- Economic Policy & Trends
Incheon Inner Harbor Piers 1 and 8: Main Maritime Court Building Seen as Key to Redevelopment
Analysts say the success or failure of the redevelopment project at Piers 1 and 8 of Incheon's inner harbor hinges on whether the main headquarters of the Maritime and Commercial Court can be attracted to the site. The concern is that with…
- Economic Policy & Trends
Government Sets R&D Budget at 39.5 Trillion Won…Double-Digit Growth for Two Straight Years
The government has set its research and development (R&D) budget for 2027 at 39.5 trillion won. Up 11.2 percent (4.0 trillion won) from this year, it marks a double-digit growth rate for the second consecutive year following 2026. The gove…
- Economic Policy & Trends
Ongjin County supplies 57,000 quality kimchi cabbage seedlings in Baengnyeong-myeon
Ongjin-gun County (Governor Jang Jeong-min) announced that it will supply a total of 57,000 quality kimchi cabbage seedlings, produced at a certified nursery in Baengnyeong-myeon, to local farming households from Aug. 26 to 31. Of these, 3…
- Economic Policy & Trends
Government Freezes 9th Petroleum Price Cap for Four Weeks… Gasoline Held at 1,784 Won
The Ministry of Trade, Industry and Energy (Minister Kim Jung-kwan) announced on August 22 that it will freeze the 9th petroleum maximum price, effective for four weeks from midnight on August 22, at the same level as the preceding 8th rou…
- Economic Policy & Trends
July ICT Exports Reach US$53.36 Billion, a Record High for Any July
In July 2026, South Korea's information and communications technology (ICT) exports reached US$53.36 billion, the largest figure ever recorded for the month of July. Imports stood at US$18.30 billion, leaving the ICT trade balance at a sur…
- Economic Policy & Trends
Incheon Rewards Contributors to Foreign Investment Attraction… Citizens and Public Officials Eligible
The Incheon Metropolitan Government will pay performance bonuses to citizens and public officials who have contributed to attracting foreign investment. The measure aims to boost participation by offering tangible rewards for investment-at…
