Incheon's economy in crisis: Experts demand urgent reforms for small businesses
The Inha-Incheon Future Design Forum held its second public event on March 11th to address the struggles of Incheon's local economy. Experts and business leaders gathered to discuss falling consumption, rising debt, and the challenges facing small traders. The discussions aimed to shape sustainable strategies for the city's future. The forum focused on the theme 'How to Overcome the Crisis of the Local Economy'. Professor Han Jae-jun from the Department of Finance and Management highlighted the sharp decline in regional spending. He proposed financial support measures to help stabilise small businesses and self-employed workers.
Lee Seong-won, Secretary General of the Korea Federation of Micro Enterprises and Self-Employed, spoke about the deep-rooted structural problems facing small business owners. He called for institutional reforms to ease their burdens. The event also noted a lack of recent data on the economic conditions of Incheon's traders or any specific local government interventions.
Professor Kang Byeong-gu of the Department of Economics led the discussions as moderator. The forum concluded by stressing the need for long-term solutions to support Incheon's economic recovery.
A third forum has been scheduled for March 18th, shifting focus to environmental and energy policies. Titled 'Sustainable Doughnut City Model and Policy Tasks for Incheon', it will explore 'Doughnut Economics' as a framework for the city's future. Professor Kim Chang-gyun from the Department of Environmental Engineering will moderate the upcoming session. The second forum highlighted the urgent need for targeted policies to assist Incheon's struggling self-employed and small businesses. Without recent data or clear local government action, experts emphasised the importance of financial reforms and sustainable planning. The next event will expand the conversation to include environmental and energy strategies for the city.
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