1.5 Million Won Support for Housing Water Supply Pipe Replacement
The Incheon Waterworks Headquarters will invest 1 billion KRW this year to support the replacement of old water supply pipes in homes.
The city will cover up to 80% of the actual construction costs, with a maximum of 1.5 million KRW per household. For social welfare facilities and schools, the maximum support will be 2 million KRW.
For homes owned by recipients of the National Basic Living Security Program, the full cost of the water pipe replacement, up to 2 million KRW, will be covered.
Incheon Seo-gu to Hold Naming Contest This Month… 69% of Residents Support Name Change
Incheon Seo-gu will hold a public contest to change the district’s name from January 20 to 31.
Based on a recent public opinion survey showing 69.5% of residents in favor and 23% opposed to the change, Seo-gu has decided to proceed with the contest process.
The naming contest is open to all citizens aged 18 and older, and participants can submit their suggestions online through the Seo-gu website or via email.
After the contest, Seo-gu plans to conduct a preference survey and gather additional feedback from residents to select the final name, which will then be proposed to Incheon City.
Incheon Sets Record High Exports Last Year, Led by Semiconductors and Pharmaceuticals
Incheon recorded its highest-ever export performance last year.
According to Incheon Regional Customs on January 15, the region’s total exports for 2023 reached 59.55 billion USD, marking a 9.7% increase compared to the previous record of 54.27 billion USD in 2022.
Incheon Regional Customs attributes the increase in overall exports to improved performance in key export items, particularly semiconductors.
Incheon’s semiconductor exports have shown steady growth since November 2023, with an increase for 14 consecutive months through December.
Local Governments Focus on Economic Vitalization Ahead of Lunar New Year Holidays
In response to high inflation and domestic economic stagnation, local governments across the country are rolling out various economic stimulus measures ahead of the Lunar New Year holidays.
Local governments are focusing on revitalizing the economy by implementing measures such as early budget execution, financial support for small and medium-sized businesses, "advance payment campaigns" to stimulate local economies, and expanding the issuance of regional currencies.
Incheon City plans to allocate 61.5% of its annual budget in the first half of the year, with 37% to be spent in the first quarter.
Local governments expect that the swift execution of their budgets will play a key role in revitalizing the domestic economy.
Sources: https://news.ifm.kr
