On March 13, the Incheon Metropolitan City Government announced its 10 investment promotion strategies to invigorate old towns.

They include promoting investments in strategic areas related to the Incheon Free Economic Zone (IFEZ), establishing a foundation to attract investments from large companies, creating jobs in old towns, preventing existing companies from transferring to other cities, supporting the expansion of companies in industrial complexes, promoting foreign investment, attracting anchor facilities, and innovating investment promotion agencies.

Incheon will start marketing at home and abroad by collecting and introducing investment information to citizens, public servants, companies, and relevant organizations.

It will also work with major economic organizations and the Korea Trade-Investment Promotion Agency (KOTRA) to increase investment.

“The amount of investment attracted last year hit a new record high of USD 3.182 billion (KRW 3.4 trillion). With this momentum, we will actively bring investment in value-added industries this year,” said a city official.

Source: Newsis (Mar. 13, 2013)

** This article was translated from the Korean.