Incheon Expands Tax-exempt Fuel Support for Fishing Vessels
Incheon Metropolitan City will expand its tax-exempt fuel support program to help fishermen struggling with rising fuel prices. The program will begin this month, with the support rate increased by 2 to 3 percentage points depending on vessel size. The maximum support rate and annual support cap have also been raised to 15% and 7 million won respectively. The revised rates are 15% for vessels under 5 tons, 10% for vessels between 5 and under 10 tons, and 8% for vessels over 10 tons. The measure will be implemented temporarily until fuel prices stabilize.
Incheon Conducts Home Searches of High-Value Delinquent Taxpayers
Intensive home searches targeting high-value tax delinquents have been conducted by Incheon Metropolitan City last month. The searches resulted in the collection of a total of 140 million won and 30 movable assets, including luxury goods. The searches targeted high-value delinquents who had the ability to pay but concealed their assets. The city deployed its “Omega Tax Collection Task Force” to collect cash and seize assets on-site. Since its launch in 2021, the tax collection tax force has collected 48.1 billion won in unpaid taxes over five years.
Incheon Supports 50 Cases Under ‘1,000 Won Brokerage Fee’ Program
Incheon Metropolitan City ‘s “1,000 won Brokerage Fee” program has supported 50 real estate transactions in the first quarter. The initiative is part of the city’s “1,000 won policy” series and provides support for real estate brokerage fees. Tenants pay only 1,000 won, while the city covers the remaining cost up to 300,000 won. Eighty-four percent of the supported transactions were made by young people, with officetels accounting for the largest share at 30%. The city plans to support a total of 1,000 households by the end of the year.
Gyeonggi’s Emergency Vehicle Priority System to Expand to Incheon
Gyeonggi-do’s “Regional Emergency Vehicle Priority System,” the first of its kind in the nation, will be expanded to Incheon. According to Gyeonggi officials, a project kickoff meeting was recently held to expand the system across the Seoul metropolitan area and build an integrated emergency response system. The core of this project is Incheon’s integration with the advanced traffic system that automatically controls traffic signals along the route, helping emergency vehicles such as fire trucks and ambulances to pass through intersections without stopping.
Incheon to Implement 2026 Interest Subsidy Program for Social Enterprises
Incheon Metropolitan City will implement its 2026 interest subsidy program to support the financial stability of social enterprises facing difficulties due to the economic slowdown. This year, loans will be provided through Shinhan Bank based on guarantees of 4.4 billion won from the Korea Credit Guarantee Fund and 1 billion won from the Incheon Credit Guarantee Foundation. The city will subsidize part of the loan interest at an annual rate of 2% for up to three years. Eligible companies can apply through the Korea Credit Guarantee Fund’s Incheon branch or the Incheon Credit Guarantee Foundation.
Incheon Seeks New ‘Good Price Stores’ to Help Stabilize Prices
Incheon Metropolitan City is recruiting new “Good Price Stores” until May 8 to expand the program supporting price stability. “Good Price Stores” provide quality services at affordable prices through efficient management and are designated by district offices based on evaluation criteria set by the Ministry of the Interior and Safety, including pricing and hygiene. Eligible sectors include restaurants, beauty services, and laundry services, while franchise businesses are excluded.
Incheon Targets Central Asian Medical Tourism Market with ‘Team Medical Incheon’
Incheon Metropolitan City and the Incheon Tourism Organization have announced the successful completion of medical tourism briefings and B2B consultations in Kazakhstan and Uzbekistan. The briefings come as part of the city’s efforts to expand into the Central Asian market. The events were held in Astana on March 31 and in Tashkent on April 2, with about 90 local travel agencies and medical industry representatives in attendance. Participants discussed joint marketing strategies for Incheon’s specialized medical tourism products and conducted a total of 831 business consultations, achieving tangible results.
Sources: https://news.ifm.kr
