Foreign Investment: Businesses with a minimum foreign investment of KRW 100 million, or with foreign investors owning the largest ratio or more than 10% of the total shares
Registration Procedure: Foreign Investment Report → Foreign-Invested Company Account Setup → Corporation Establishment Registration → Foreign Investment Company Registration
Individual Foreigner Investment Zone: Land purchased with budget from the central, provincial, or municipal governments in the area that foreign investors consider
Besides the individual foreigner investment zone, support is given in an applicable category of the support categories below
Requirements: The ratio of foreign investment is more than 30% or the first stockholder is a foreigner
Applicable Site: general industrial complex, agricultural industrial complex, areas foreign investors want
Support Content: Reduction of National Property Rent (50∼100%)
100% Reduction: Businesses with a minimum foreign investment of USD 20 million or an average of 300 employees or more per day
75% Reduction: Businesses with a minimum foreign investment of USD 10 million or an average of 200 employees or more per day
50% Reduction: Businesses with a minimum foreign investment of USD 5 million or an average of 100 employees or more per day
Individual Foreigner Investment Zone
National public property is rented through a private contact in the area foreign investors consider (rent fee exemption for 50 years)
Specified Conditions: Manufacturing businesses with a foreign investment of more than USD 30 million, etc.
Move-in Limit: investment of double the purchasing price of the land, facilities taking up 12% of the total construction site
Specified Procedure: The provincial government designates and notifies the contract following a resolution by the Foreign Investment Committee of the Ministry of Trade, Industry and Energy.
Employment Subsidy (the Small and Medium Business Administration)
Requirements: A foreign-invested company that has over 20 new local regular employees after its registration
Support Content: Up to KRW 1 million a month per person for 6 months for the extra workers when a foreign-invested company hires more than 20 new employees (limited to a total of KRW 600 million per company)
Requirements: A foreign-invested company that hires and trains more than 20 new employees
Support Content: Up to KRW 1 million a month per person for 6 months (limited to a total of KRW 600 million per company)
Support Usage: land purchasing cost, construction cost, facilities and equipment purchasing cost, etc.
Support conditions: A business’s job creation effect, economic contribution to the area and other aspects are taken into consideration when the Investment Attraction Committee deliberates and decides.
Support content: Up to 20% of the investment amount
Requirements: high-technology business and industrial support service business, businesses in the foreign investment zone
Tax Reduction Content
Corporate Tax and Income Tax: 100% for 5 years, 50% for the next 2 years (Tax Restriction and Exemption Control Act article 121 of 2)
Acquisition Tax: 100% for 5 years, 50% for the next 2 years (Tax Restriction and Exemption Control Act article 121 of 2)
Property Tax: 100% for 10 years, 50% for the next 5 years) (Gyeongju Ordinance on Tax Reduction article 7)