The Incheon Metropolitan Government will pay performance bonuses to citizens and public officials who have contributed to attracting foreign investment. The measure aims to boost participation by offering tangible rewards for investment-attraction efforts that lead to regional economic recovery and job creation.
 [코리안투데이] A view of Incheon Metropolitan City Hall © 장형임 기자 |
The Incheon Metropolitan Government (Mayor Park Chan-dae) announced that it will pay performance bonuses to citizens and public officials who have contributed to regional economic development by attracting foreign investment. Those eligible span the private sector — individuals, companies and organizations — as well as public officials.
The bonuses apply to projects for which foreign direct investment (FDI) was completed and received between July 1 of last year and June 30 of this year. During that period, the arrival of direct investment by foreign-invested companies in Incheon totaled 270 cases, amounting to about 400 million US dollars.
The city plans to award the bonuses mainly for projects with a large economic ripple effect, such as the construction and expansion of factories, research facilities, new growth industries involving advanced technology, development projects and job creation. The total budget stands at about 35 million won. Last year, roughly 23 million won in bonuses was paid for a single project.
The final amount is determined by applying a graduated rate according to the value of direct investment received, and is decided through deliberation by the Incheon Investment Attraction Planning Committee based on the degree of contribution to investment attraction and a qualitative assessment. However, duplicate payment is not permitted if a bonus for the same investment-attraction project has already been received from another administrative or public institution.
The application period runs through September 4. Individuals, companies and organizations wishing to apply may submit an application form, an activity report, a foreign-invested company registration certificate and other supporting documents to Incheon’s Investment Attraction Division. Citizens may apply in person, by mail or by email, while public officials must apply through an official document.
For details, check the notices and announcements section of the Incheon city website (http://www.incheon.go.kr/) or contact the Investment Attraction Division (☎032-440-3293).
This bonus program is significant in that it goes beyond a simple administrative award to establish a reward system for the voluntary efforts of the private sector in drawing investment to the region. When foreign investment leads to factory expansion, the enhancement of research facilities and job creation, the benefits flow back to citizens in the form of jobs and to the local commercial economy.
Jeon Ji-suk, head of the city’s Investment Attraction Division, said, ‘We hope this bonus payment will promote foreign investment attraction in Incheon and, further, become a great force for regional economic recovery and job creation,’ adding, ‘We will continue to improve the system to provide effective incentives going forward.’
지역 홍보대사 신청 기자양성과정 신청 코리안투데이 지부장 신청 코리안투데이 인천강화
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