Incheon City, the Foreign Chambers of Commerce in Korea, the Korea Trade-Investment Promotion Agency (KOTRA), and the Korea Chamber of Commerce and Industry have agreed to cooperate to attract investment to Incheon and advance its status as a global city.
On the 12th, the city invited the chairpersons and leaders of these organizations to Songdo (Gyeongwonjae), Incheon, to hold a roundtable meeting aimed at attracting anchor facilities and companies, which are key to the 'New Hong Kong City' project.
The event was attended by David-Pierre Jalicon, President of the French-Korean Chamber of Commerce; Martin Henkelmann, Representative of the German-Korean Chamber of Commerce; Heikki Ranta, President of the Finnish Chamber of Commerce; Moon Go-young, Chair of the Energy and Environment Committee of the European Chamber of Commerce; Lucinda Walker, Director of the British Chamber of Commerce in Korea; Giancarlo Grosso, Director of Strategy and Business Planning at the American Chamber of Commerce in Korea; Kim Tae-hyung, CEO of Invest Korea at KOTRA; and Park Jae-geun, Head of the Membership Division at the Korea Chamber of Commerce and Industry.
Incheon Mayor Yoo Jeong-bok is discussing investment attraction plans with participants at the Korea Foreign Chambers of Commerce and Industry Presidents' Roundtable held on the 12th at Songdo Kyungwonjae. [Photo by Incheon City]
At this meeting, the city introduced the 'New Hong Kong City' and 'Jemulpo Renaissance' projects, which are key initiatives of the 8th mayoral administration, and explained Incheon's investment environment aimed at attracting global companies and anchor facilities.
The New Hong Kong City project focuses on creating an optimal business environment and fostering advanced industries based on the economic free zones of Songdo, Cheongna, and Yeongjong, as well as Ganghwa and Ongjin counties and Incheon Inner Port. To this end, the city plans to concentrate on nurturing industries where Incheon has strengths, such as bio, semiconductors, mobility, and aircraft maintenance, repair, and overhaul (MRO), along with logistics, finance, and tourism industries common to global cities.
Meanwhile, the Jemulpo Renaissance project aims to revitalize Incheon Inner Port (formerly Jemulpo), which led Korea's modernization, and the surrounding old downtown area into a city that integrates culture, tourism, and industry.
The city emphasized that it is striving to leap beyond Korea to become a world-class city based on its world-renowned airport and port, the country's largest economic free zone, bio and semiconductor industries, and the Overseas Koreans Office.
Mayor Yoo Jeong-bok stated, "Incheon offers more reasonable regulatory levels and business-friendly systems for economic activities than any other region in Korea, including economic free zones. We look forward to the active cooperation of institutions that serve as Korea’s top business partners domestically and internationally, and we will spare no administrative and financial support for foreign companies investing in Incheon."
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