Incentive
Category | Domestic companies | Foreigner-investing companies | ||||
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Within the Industrial Complex | Outside the Industrial Complex | In & Out the Industrial Complex | ||||
Ground |
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• Special Act on Designation and Operation of Free Economic Zones (abbreviation: Free Economic Zone Act) |
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• Act on Industrial Location and Development (abbreviation: Industrial Location Act) | ||||||
Contract |
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Tenant Qualifications |
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Tax Reduction | National Tax | Corporate Tax Income Tax |
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• Not applicable | ||
Customs |
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Local tax | Acquisition tax (province) Property tax (city and county) |
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Not applicable |
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Lease | Available for lease within 50 years for about national and public land |
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Rent reduction is the amount calculated by multiplying the land value by a rate of 10/1,000 or more | |
For Sale | (National and public property) Sale at construction cost, possible through private contract |
Category | Main contents |
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Target | Support through negotiations for foreigner-investing companies with a foreign investment ratio of 30% or more When investing in new technologies, large-scale job creation, R&D centers, etc., fund support within the limit of 30% (R&D 40%) of the investment amount |
Support Contents | Support for factory facility installation cost, dog equipment installation cost, employment subsidy, education and training subsidy, etc. |
Category | Main Contents |
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Exclusion of application of the Metropolitan Area refinement Planning Act | For resident foreigner-investing companies, exemptions of the Articles 7 (Restrictions on Activities in Overcrowding Control Zones), Articles 8 (Restrictions on Activities in Growth Management Zones), Article 12 (Imposition and Collection of Overcrowding Charges), Article 18 (Population Concentration) and Article 19 (Regulation on large-scale development projects) of the Seoul Metropolitan Area refinement Planning Act |
Relaxation of Labor Regulations | Exclusion of compulsory employment such as the employment of disabled, exclusion of restrictions on the period and target work of dispatched workers, the permission of unpaid leave, etc. |
Forex Trading Freedom | The consideration for current transactions can be directly paid in foreign currency (under $20,000) |
Administrative Procedure Support | Agenda for the establishment of various plans, agenda for various licenses, etc. |