Incheon City is making efforts to revitalize the local construction industry.
On August 12, the city announced that it had signed a memorandum of understanding (MOU) with nine public institutions to promote the local construction industry.
The participating organizations include the Incheon Metropolitan Office of Education, Korea Gas Corporation, Korea South-East Power, Korea Electric Power Corporation, Incheon International Airport Corporation, Korea Land and Housing Corporation (LH), National Railroad Authority, Metropolitan Landfill Management Corporation, and Incheon Port Authority.
Under the agreement, these organizations will increase opportunities for local construction companies to participate in large-scale construction projects ordered in Incheon. They will also expand regionally restricted competitive bidding and mandatory regional joint contracts for construction projects.
To boost the local construction industry, the city plans to hold workshops for public procurement and contract managers, as well as permitting officials, aiming to implement field-oriented policies and strengthen the capabilities of those in charge.
Hwang Hyojin, Deputy Mayor for Global City Affairs of Incheon City, stated, "This agreement marks an important starting point for collaboration between public institutions and local governments to expand the participation of local construction companies," adding, "We will ensure that this provides tangible benefits to the local economy."
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