Incheon City Launches Master Plan Establishment Service for 'New Hong Kong City Project'

Incheon City Hall

[Asia Economy Reporter Park Hyesook] Incheon City announced on the 30th that it will commence the establishment of a master plan to promote the New Hong Kong City Project, a key pledge of the 8th term of the elected mayor.

The New Hong Kong City Project is a business aimed at preparing future strategies across various fields such as finance and services, advanced industries, maritime aviation, and cultural tourism to elevate urban value and leap beyond Hong Kong to become a world-class city.

The city plans to lay the foundation to leap into a 'world-class city' by proactively and strategically responding to global political and economic changes through this project.

A world-class city refers to a new level of city that surpasses domestic and international leading cities, based on a super-smart city leading the world in response to the 5th Industrial Revolution era, and aims to improve quality of life through culture, history, and environment as a human-centered happy city.

To increase public consensus and feasibility in establishing the New Hong Kong City Project master plan, a public-private promotion council and an expert advisory group will collaborate. The public-private promotion council will operate through various channels including online and offline.

Earlier in October, a total of 65 advisors composed of experts from academia, business, and research institutes presented creative and innovative ideas expected to contribute to the project's success.

The city also plans to select and focus on key projects called New Hong Kong City Priming Projects to create visible outcomes and build public consensus for the New Hong Kong City Project.

Along with this, efforts will be concentrated on building a global network, including attracting the Overseas Korean Affairs Agency.

The plan is to attract the Overseas Korean Affairs Agency for the 7.5 million overseas Koreans network to accelerate the realization of New Hong Kong City. To this end, the city will continue to expand networks with foreign ambassadors in Korea and Korean Chambers of Commerce.

Above all, the city has decided to devote full efforts to establishing the institutional foundation such as laws and ordinances necessary for project promotion.

For the core of the project promotion, global investment attraction, regulatory relaxation, administrative and financial incentives, and decentralization of national authority must precede, so the city plans to strongly request the government and the National Assembly to revise related laws.

Mayor Yoo Jeong-bok said, "The New Hong Kong City Project is a key project of the 8th term to develop Incheon into a new global city. Along with establishing the master plan, priming projects such as attracting anchor facilities must be promoted with speed," and urged employees to "approach their work boldly with a change of mindset."

This content was produced with the assistance of AI translation services.