Domestic Company
Local Government Investment Attraction Support System
Support for Local Investment Promotion Subsidies
Classification | Relocation of Company Located in the Metropolitan Area | Investment in New Construction and Expansion | Investment by Company Returned to Korea | ||
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Object | ∙The headquarter shall be located in the metropolitan area ∙The company shall conduct business for more than three years in the metropolitan area ∙The company shall have more than 30 regular employees (based on the existing workplace). |
∙The company shall conduct business in Korea for more than three years. ∙The company shall have more than 10 regular employees (based on the existing workplace). |
∙The company shall be selected in accordance with the Act on Assistance to Korean (* Separately promoted by KOTRA) ∙The Company shall have more than 20 regular employees (based on the investment workplace). |
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Condition | ∙The company shall relocate its headquarters, factory, research center, etc. to the jurisdictional area. ∙The company shall have more than 30 regular employees (based on the investment workplace). ∙The company shall invest more than 1 billion won. In the case of a conglomerate, it shall invest more than 30 billion won. ∙The company shall close or sell its existing workplace before investment completion. |
The company shall invest more than 1 billion won. In the case of a conglomerate, it shall invest more than 30 billion won. ∙The company shall have over 10% of new regular employees at the investment workplace than those at the existing workplace. ∙The business type of the newly invested workplace shall be included in the regional cooperation industry, the intensive regional attraction industry, the high-tech industry, and the industry of the National Innovation Fusion Complex. ∙The company shall be prohibited from closing, selling, leasing, reducing the existing workplace. However, the company may reduce it with prior approval. |
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Subsidy Type | Move subsidy | Facility subsidy | Facility subsidy | Move subsidy | Facility subsidy |
※ The subsidy is limited to companies that have been attracted through activities such as a memorandum of understanding or an equivalent agreement before applying for a subsidy or a construction report. |
Ulsan Subsidy Support
Classification | Support Condition | Support Content | Support Limit | |
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Move Subsidy
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∙he cost of land purchase shall exceed 2 billion won. The company shall apply for this subsidy within six months from the start of the business according to factor registration, etc. | ∙City Hall will provide this subsidy with a range of 20% of the amount exceeding 2 billion won. | 3 billion won per company | |
Facility Subsidy
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∙The construction and equipment costs shall exceed 1 billion won. ∙The company shall apply for this subsidy within six months from the start of the business according to factor registration, etc. |
∙City Hall will provide this subsidy with a range of 20% of the amount exceeding 1 billion won. | 3 billion won per company | |
Employment Subsidy
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∙The company shall hire at least 20 new employees within 5 years after entering the UFEZ. ∙The company shall apply for this subsidy after 6 months from the start of the business according to factory registration, etc. |
∙City Hall provides 500,000 won per month for each new employee recruitment within 6 months. | Within budget | |
Education and Training Subsidy
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∙ The company shall hire at least 20 new employees within 5 years after moving to the UFEZ and provide training for at least 1 month. ∙The company shall apply for this subsidy after 6 months from the start of the business according to factory registration, etc. |
∙City Hall provides 500,000 won per month for each new employee recruitment within 6 months. | 200 million won per company |
Special Support for Large-Scale Domestic Investment Company
Classification | Support Condition | Support Content | ||
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Special Support for Large-Scale Domestic Investment Company
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∙Domestic investment companies shall invest at least 50 billion won or have more than 300 regular employees per day. - Scale of Support: It will be decided after deliberation by the Investment Promotion Committee. |
∙This subsidy will be supported within the range of 20% of the land purchase and investment in factory facilities. However, the company may not have a duplicate application such as location subsidies and facility subsidies∙ ∙This subsidy will be provided to support some or all of the infrastructure facilities such as roads, ports, wastewater treatment, electricity, communication, gas, and other facilities necessary for production activities. |
Support for Small Company with Strong Technology
Classification | Support Condition | Support Content | Support Limit | ||
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Special Support Subsidy for Relocated and Newly Established Company
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∙The company shall move from outside the jurisdiction to the jurisdiction. In the case of a startup enterprise, it shall have more than 10 regular employees. ※ Companies with less than 10 regular employees may receive this subsidy through deliberation by the Investment Promotion Committee. |
∙Within 15% of the pre-sale (purchase) price ∙Within 15% of the building purchase price ∙Within 50% of the building rent for one year |
100 million won per company | ||
∙Within 30% of equipment purchase cost | 〃 | ||||
∙City Hall will pay less than 500,000 won per newly hired regular employee within 6 months. |
Local Tax Reduction System
Classification | Reduction target | Reduction rate (%) | Evidence |
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Industrial Complex | Real estate for industrial complex creation (implementer) | - Acquisition tax : 35% - Property tax : 60% |
Article 78-1 of Restriction of Special Local Taxation Act |
Real estate for sale and rental of industrial complexes (implementer) | - Acquisition tax : 35% - Property tax : 60% |
Article 78-2 of Restriction of Special Local Taxation Act | |
Real estate for direct use after the construction of industrial complexes | - Acquisition tax : 35% - Property tax : 60% (five years) |
Article 78-3 of Restriction of Special Local Taxation Act | |
Real estate for construction such as factories (company) | - Acquisition tax : 75% - Property tax : 75% (5년) |
Article 78-4 of Restriction of Special Local Taxation Act and Article 7-1 of Ulsan City Tax Reduction Ordinance | |
Heavy repair such as factory (company) | - Acquisition tax : 40% | Article 78-4 of Restriction of Special Local Taxation Act and Article 7-2 of Ulsan City Tax Reduction Ordinance | |
Agricultural Industrial Complex | Company alternatively located in agricultural industrial complexes | - Acquisition tax : 100% | Article 6 of Ulsan City Tax Reduction Ordinance |
Venture Business and New Technology Startup | Real estate acquired for sale and lease purposes in the clusters for venture companies and new technology startups | - Acquisition tax : 50% - Property tax : 50% |
Article 58-1 of Restriction of Special Local Taxation Act |
New construction or extension in new technology startup clusters | - Acquisition tax : 50% - Property tax : 50% (3년) |
Article 58-3 of Restriction of Special Local Taxation Act | |
Knowledge Industry Center | Real estate acquired by direct use, pre-sale or lease after the new extension of knowledge industry centers | - Acquisition tax : 35% - Property tax : 37.5% |
Paragraph 1, Article 58-2 of Restriction of Special Local Taxation Act |
Occupant who has purchased a knowledge industry center for the first (limited to small and medium-sized companies) | - Acquisition tax : 50% - Property tax : 37.5% |
Paragraph 2, Article 58-2 of Restriction of Special Local Taxation Act | |
Startup (venture business) and Small and Medium-Sized Company | Business property of startup (venture business) and small and medium-sized company | - Acquisition tax : 75% - Property tax: 50% for two years (exempted for three years) |
Paragraph 1 and 2, Article 58 of Restriction of Special Local Taxation Act |
egistration for the establishment of a corporation for small and medium-sized enterprises Registration for the establishment of a corporation for venture small and medium-sized enterprises |
- Registration and license tax : 100% | Paragraph 3, Article 58-3 of Restriction of Special Local Taxation Act |