Yeongjong-gu offers tax incentives to attract aircraft registration

Yeongjong-gu is launching a financial support project to attract aircraft registration at Incheon International Airport. To secure a stable tax base and boost the local economy, the district will provide maintenance fee subsidies equivalent to 20% of the property tax paid by airlines that newly register their aircraft at the airport.

This initiative aims to revitalize the aviation industry and establish an airport economic zone. The district hopes the measure, combined with Incheon City’s existing 30% reduction in aircraft acquisition tax rates, will increase competitiveness against other local governments that have also introduced support programs to attract aircraft.

Separately, South Korea’s Ministry of Employment and Labor reported that industrial accident fatalities reached a record low for the third quarter, dropping into the 300s for the first time since statistics began in 2022. The number of deaths fell by approximately 20% compared to the previous year, driven largely by a significant decrease in construction sector fatalities.

However, manufacturing sector fatalities saw an increase due to recent large-scale fire and explosion accidents. The government plans to intensify inspections of high-risk workplaces and provide financial and technical support to small-scale sites to prevent future incidents.