Incheon Free Economic Zone (IFEZ), Startups Win Big in the United States

The Incheon Free Economic Zone (IFEZ) announced that five local startups participated in the 2024 US-Korea Conference on Science, Technology and Entrepreneurship (UKC), with four of them winning awards, including first place in the UKC Startup Pitch Competition (SPC).

This year's 37th UKC, held from August 21st to 24th (local time) in San Francisco, USA, was a platform for Korean and American scientists, entrepreneurs, and policy makers to explore scientific and technological advancements and strengthen personal networks.

In the SPC session, nSAGE, IDCITI, and Ilias AI participated, winning first, second, and third places respectively. In the IPC session, FutureSense secured first place.

The winning companies will receive prize money and opportunities for investment attraction, including meetings with local VCs/ACs and industry representatives.

Incheon's '1,000 Won Housing' to Recruit Tenants from October... "Starting with Purchased Rentals"

From October, Incheon City will start recruiting newlywed couples for its '1,000 Won Housing' program, where residents can live for up to 6 years by paying a daily rent of 1,000 won, or 30,000 won per month.

The 1,000 Won Housing program comes in two types: 'purchased rentals', where Incheon Housing and City Development Corporation (iH) rents out multi-family houses and townhouses with floor areas of 60-85㎡ that it owns or has purchased, and 'jeonse rentals', where the corporation directly signs a jeonse (long-term deposit) contract with the owners of apartments or villas under 85㎡ and then subleases them.

According to iH, they plan to launch the first tenant recruitment in October this year, utilizing 200 units of purchased rental properties that the corporation currently owns.

Incheon City Conducts New 'Multicultural Family Elementary Parent Education' for Child Abuse Prevention

On August 24th, Incheon Metropolitan City conducted 'Child Abuse Prevention Education for Multicultural Family Elementary Parents' at the Namdong Family Center.

This education program is newly established by Incheon City to create a safe city for children. It focused on improving awareness of proper parenting attitudes and child abuse prevention, targeting multicultural families with elementary school children.

An official from Incheon City emphasized, "Children should be respected as independent individuals, and it is necessary to improve parents' proper parenting attitudes and awareness of child abuse to ensure children's healthy growth. For this reason, parent education for child abuse prevention is very important."

Incheon City, 'Positive' Evaluation Results from Citizen Safety Insurance Survey

On the 26th, Incheon City announced the results of a citizen survey on the Incheon Citizen Safety Insurance.

The survey included opinions on the awareness and recognition channels of the Citizen Safety Insurance, priorities of coverage items, additional coverage items, and coverage amounts.

According to the survey results, 90.7% of respondents agreed on the 'necessity of the policy' for Citizen Safety Insurance, and 89.1% positively evaluated that it 'helps protect citizens', indicating a high level of satisfaction with the Citizen Safety Insurance.

Based on the results of this survey, Incheon City plans to review expansion measures for the Citizen Safety Insurance, such as increasing coverage amounts and adding coverage items, and will reflect these changes starting from 2025.

Sources: https://news.ifm.kr