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Incentives

Tax reduction

  • Businesses considered as new growth engines and generic technology
    • Future automobiles, intelligence information, next generation SW, biohealth, new energy business/environment, composite materials, robots, aviation, aerospace, etc.
  • Investment businesses in foreign investment regions
    • Manufacturing: USD 30 million, Tourism: USD 20 million, Logistics: USD 10 million, Research: USD 2 million (10 people)
Details of tax reduction
  • Reduction of corporate taxes and income taxes (national taxes) by 100% for five years and by 50% for the following two years
  • Exemption from acquisition taxes (municipal taxes) for 15 years
  • Exemption from property taxes (gu/gun taxes) for 10 to 15 years
  • Exemption from tariffs, individual consumption taxes, and value added taxes

Cash grants

  • New construction or expansion of plants for new growth engines
  • New construction or expansion of plants of higher value added parts and materials
  • New construction or expansion of plants which can create a large number of jobs
    • Real estate: 50, Environment: 100, Finance: 200, Manufacturing: 300
  • New construction or expansion of research facilities for new growth engines
    • Five or more researchers with a Master’s degree or higher or with a bachelor’s degree and three years or longer in research
  • Establishing local headquarters in Korea (Parent company: over 5 trillion won, managing two overseas corporate bodies)
Details of support
  • Cash grant corresponding to a certain percentage of foreign investment
  • For the purchase of land/building purchase (rent), construction costs, the purchase of materials and research equipment, infrastructure expenses (electricity, telecommunications facilities, etc.), employment subsidies, education/training subsidies, etc.

Subsidies

Facility subsidies
  • Target : New construction or expansion of plants of industrial support service businesses or advanced technology businesses valued at over 3 billion KRW
  • Details : Up to 2% of facility costs exceeding KRW 3 billion (Up to KRW 200 million)
Employment subsidies
  • Target : Employing over 20 people within five years after being registered as a foreign-invested company
  • Details : Providing up to KRW 500,000 per person, per month to companies with 20 employees or more for six months
Education/Training subsidies
  • Target : Employing over 20 people within five years after being registered as a foreign-invested company and providing education/training
  • Details : Providing up to KRW 500,000 per person, per month to companies providing education to 20 employees or more for six months (Up to KRW 200 million)

Special support

  • Foreign investment of over USD 50 million or the number of daily regular employees of 300 or more
    • Providing up to 20% of the investments in land and plant facilities
    • Entirety or part of infrastructure such as roads, ports, water supply facilities, sewage/waste treatment facilities, electricity/telecommunications/gas facilities, etc.