Incheon to provide 1.5 trillion won in support for SMEs
Incheon Metropolitan City will provide 1.535 trillion won in business support funds this year to stabilize management and promote growth of local small and mid-sized companies. The city will offer interest subsidies that cover part of the loan interest paid to banks. It will also support insurance premiums for accounts receivable insurance. This insurance covers part of the losses when business partners fail to pay on credit transactions. Incheon will also run a guarantee support program with the Korea Technology Finance Corporation to help companies with weak collateral access financing more easily. The city plans to raise interest subsidy rates by loan category to reduce the actual interest burden as funding conditions worsen.
38 Incheon companies included in Korea’s top 1,000 by domestic sales
Thirty-eight companies based in Incheon have been included in Korea’s top 1,000 companies by domestic sales in 2024. This makes Incheon firms No. 1 among the nation’s six major metropolitan cities in profitability indicators. According to a report released by the Incheon Chamber of Commerce and Industry on the 28th, the number of Incheon companies included in the top 1,000 companies in 2024 increased by one from the previous year to 38. With 38 companies, Incheon ranked second nationwide among all 17 provinces and cities, following Seoul with 523 companies. The number is higher than Busan’s 30, as well as Ulsan’s 26 and Daegu’s 20. The strong performance is seen as being driven by semiconductor and biotech companies.
Incheon to roll out EV subsidy program for private buyers in 2026
Incheon Metropolitan City will launch an EV distribution program for private buyers in 2026. The move aims to accelerate the shift to eco-friendly transportation and meet the city’s 2045 carbon neutrality goal. This year, the city plans to supply a total of 9,733 electric vehicles, a 20% increase from last year. The city expects more citizens will use eco-friendly transportation in daily life, including commuting.
Incheon to carry out facility upgrades at traditional markets and shops
Incheon Metropolitan City will fully implement a facility modernization program for traditional markets and shopping areas this year. The project targets 22 markets and shopping districts across the city. Aged CCTV systems, lighting and other facilities at arcades will be systematically improved. The goal is to prevent fires and other electrical and gas accidents, creating a safer and more comfortable shopping environment for both customers and merchants. Out of the total budget of 4.9 billion won, the city has already distributed 3.7 billion won to nine districts and counties. A total of 22 projects will be carried out, with key projects including installing evaporative cooling systems at Sinpo International Market; building customer support centers at Hyundai Market and Jangseungbaegi Traditional Market; installing smart traffic flow and safety guidance systems at Art Foret sales facilities; building new arcades at Mansu Market; and repairing leaks at Gangnam Market.
Incheon to recruit 100 youth members for Youth Policy Network
Incheon Metropolitan City will recruit 100 youth members for the 2026 Incheon Youth Policy Network. Applications will be accepted from January 29 to February 20. The network is an official youth participation body helping young people to discover, discuss, and propose policies closely related to their lives, and reflect the results in city administration. In 2026, the city will go beyond policy proposals and introduce a new Youth Policy Lab, where young people will directly design, test, and verify policies to strengthen the effectiveness of youth participation.
