Yes, while hopeful is a concessive adjunct containing a verbless clause meaning “it is hopeful”. Other prepositions which allow omission of the subject and verb include (al)though, until, if, and once . However, I can’t think of an example where there is is omissible.
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park sang joonThen, can't I omit "There is" in a concessive clause?In what context do you think this might be possible?