[REVISION HISTORY]

Incheon economic support and fiscal reform initiatives

Updated 6 times since CLSTR started tracking revisions of this situation.

What changed

2026-09-29 07:02 UTC → 2026-09-30 03:44 UTC · added ~~removed~~

Incheon Metropolitan City is implementing various economic support measures to bolster local businesses and high-tech industries. To support small businesses and revitalize local economies, the city is adjusting its local currency, Incheon e-Eum. To boost spending ahead of the Chuseok holiday, the city will resume a 10% cashback rate effective September 18, temporarily increasing the monthly usage limit from 500,000 won to 1,000,000 won. In Ganghwa and Ongjin counties, the cashback rate will be 15%. From October through December, the limit will return to 500,000 won. The city has also added Kakao Pay and Naver Pay to its supported payment methods and is exploring advertising-based monetization models to ensure long-term sustainability. To facilitate this resumption, the city finalized a second supplementary budget, allocating 77.9 billion won to restart cashback services following a temporary suspension caused by budget depletion. This budget also includes funding for childbirth support, youth rent assistance, and public transportation subsidies. City officials have emphasized the necessity of developing a sustainable operational model for the platform, which currently serves 2.75 million users, to prevent future service interruptions and reduce reliance on government subsidies. In addition to currency adjustments, the city has announced a 50.5 billion won management stability fund to assist approximately 1,700 small businesses. Simultaneously, the city is expanding support for high-tech enterprises through the ‘I-Startup Unicorn Dream’ project. Following an 80-day review, the Incheon Fiscal Budget Reform Task Force has proposed a major restructuring plan to ~~strengthen fiscal soundness and expand future investments.~~ ensure long-term stability. The ~~recommendations include institutionalizing regular fiscal strategy meetings led by the mayor and adopting three distribution principles:~~ proposal recommends capping social welfare spending at 45% in of the ~~mid-to-long term,~~ total budget and limiting city-funded cash ~~support~~ welfare programs to 5% of local ~~revenue,~~ revenue. To avoid duplication with national subsidies, the task force suggested the phased abolition of transportation support for pregnant women by 2027 and ~~dedicating at least 10%~~ the gradual reduction of the ~~budget to future infrastructure.~~ ‘Angel Support Fund’ for children.

Versions

Only revisions since CLSTR began indexing content versions appear here. Select a version to see what changed compared to the one before it.