"I Will Restore Incheon's True Value"...On His 100th Day in Office, Park Chan-dae Unveils 'Incheon Re-Rating' Initiative

"Incheon's Value Will Be Reassessed Through AI and Bio Industry"
Bidding for the 2028 G20 Summit and Promoting the East-West Peace Logistics Expressway Across the Korean Peninsula

On October 7, marking his 100th day in office, Incheon Mayor Chan-dae Park unveiled the "Incheon Re-Rating (Proper Value Recognition)" initiative, expressing his intent to ensure Incheon's undervalued status receives proper acknowledgment.

In his keynote speech at the "100 Days of the 9th Term Inauguration: Dialogue with the Press" held in the city hall's main conference room, Mayor Park presented three key directions for Incheon's reassessment: finding Incheon's true value, fostering a growing South Korea together, and ensuring satisfied citizens. He also officially announced mega projects such as hosting the 2028 G20 Summit and building the East-West Peace Logistics Expressway across the Korean Peninsula.

Mayor Park emphasized, "Incheon is a solid 'undervalued blue chip' city with an airport, port, a bio cluster, and 3.05 million citizens." He continued, "We will restore Incheon's true value, which has been diminished due to metropolitan area regulations and inter-Korean tensions, and will make Incheon a leading city driving balanced national development."

He cited "Seoul-centric policies" and the "division of Korea" as the main reasons why Incheon's value has been depreciated. Mayor Park noted, "The names of the Gyeongin Line and Gyeongin Expressway, which exist because of Incheon Port, originate from Seoul, and Incheon Airport operates under the city code of Seoul. Government policies have also grouped Incheon together with Seoul."

He added, "As a city facing the North across rivers and the sea, Incheon has been at the frontlines of the 'Korea Discount' effect. It is time to ensure that Incheon is recognized and assessed in its own name, no longer overlooked."

Mayor Park also projected that advancements in artificial intelligence (AI) and the bio industry would lead to a reevaluation of Incheon's worth. He stated, "Incheon is striving to attract Songdo as a global AI hub and has launched the 'Incheon Logistics AX Alliance' to add AI to airport and port logistics. Songdo, already an important production hub in the global bio industry, must now expand into research and start-ups as well."

Incheon Mayor Chan-Dae Park is announcing the 'Incheon Re-rating' plan at the '100 Days of the 9th Elected Term: Dialogue with the Media' held at the city hall's large conference room on the 7th. Provided by Incheon City

He also officially declared his intention to bid for Incheon to host the 2028 G20 Summit in Korea. Citing strong links to G20 priorities such as bio, AI, semiconductors, and energy, as well as locational advantages like Incheon International Airport and Songdo Convensia, and extensive experience hosting major international events, he expressed firm determination to secure the G20 Summit for Incheon.

Additionally, he proposed distributing the G20 Summit across multiple local governments along the West Coast. Over the course of one year, around 100 ministerial and working meetings will not only be held in Incheon, but also in neighboring municipalities, serving to showcase each region's industries and K-Culture to the world, while ensuring that the benefits of hosting the summit are shared more broadly.

Furthermore, Mayor Park proposed constructing the "East-West Peace Logistics Expressway" across the Korean Peninsula, connecting Incheon International Airport (Yeongjongdo) through Sindo and Ganghwa to Goseong in Gangwon-do. Building on this, he plans to pursue the designation of the southern tip of Ganghwa as a Free Economic Zone, as well as establishing Peace Economic Zones in Ganghwa-gun and Ongjin-gun.

Mayor Park stressed, "Re-rating is not about waiting for someone else to raise our value; it is about Incheon proving its own worth. The true value of a city is determined by its citizens. Only when our citizens say, 'I am happy to live in Incheon,' will Incheon's value be properly recognized." He concluded by emphasizing, "Over the four years of the 9th term, we will firmly demonstrate Incheon's value through proper re-rating, inclusive national growth, and enhancing the satisfaction of our citizens."

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