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Foreign Investment Policy

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Investment Guide

Convenient transportation infrastructure and affordable land prices

An hour and a half drive to and from the national capital area and approx. 2-hour drive to and from other major regions, while the land prices are 1/10 of that of the national capital area

Development potential

New towns, Sejong Metropolitan Autonomous City, Seohae railway, the second Seohaean Expressway

Young workers and pleasant living environment

Chungwoon University, Hyejeon College, Korea Polytechnic VI and splendid natural environment

Great incentives for enterprises moving in

National subsidy (Basis: Ministry of Trade, Industry and Energy Notice)

Subsidies for companies relocating from the national capital area Eligibility: A company which has been operating in the national capital area for over 3 years and has at least 30 employees, relocates its independent business establishments (head office, factory, research institute), in part or whole

Subsidies for new and extended companies Eligibility: A small or medium-sized enterprise designated as a local lading specialization and concentration business that has been operating in Korea for over 3 years, with new investment of at least 1 billion KRW, and at least `10 employees OR a large corporation that has invested at least 30 billion KRW into th construction of new facilities and scored over 70% in assessment

National subsidy (Basis: Ministry of Trade, Industry and Energy Notice)
Subsidy type Moving from Seoul New or extended enterprise
Large corporation (conglomerate) Medium corporation Small and medium enterprises Large corporation (conglomerate) Medium corporation Small and medium enterprises
Move-in subsidy - Up to 10% of the move-in expenditures Up to 30% of the move-in expenditures - - -
Investment subsidy Up to 6% of the facility expenditures Up to 9% of the facility expenditures Up to 12% of the facility expenditures Up to 6% of the facility expenditures Up to 9% of the facility expenditures Up to 12% of the facility expenditures

Local subsidies (Basis: Chungcheongnam-do Ordinance on Promotion of Investment by Domestic Enterprises and Hongseong-gun Ordinance on Promotion of Corporate Investment)

  • Support for collective move-ins
    • Eligibility : 2 or more companies that made an investment of at least 5 billion KRW (for move-in and facilities) and have at least 30 employees
    • Support criterion : for up to 5 billion KRW in investment
    • Amount of financial support : up to 500 million KRW
  • Support for large-scale investors
    • Eligibility : a company that made an investment of at least 100 billion KRW and has at least 300 employees
    • Support criterion : same as the national subsidy
    • Amount of financial support : up to 2 billion KRW
  • Support for newly established or extended companies
    • Eligibility : a plant related to advanced industries that made an investment of at least 3 billion KRW and has at least 20 employees
    • Support criteria : same as the national subsidy
    • Amount of financial support : up to 2 billion KRW
  • Special support for infrastructure costs
    • Eligibility : a new or extended plant or a plant related to advanced industries that made an investment of at least 2 billion KRW and has at least 10 employees
    • Amount of financial support : up to 100 KRW or 50% of the investment into the infrastructure construction costs

Foreign Investment Policy

Support for foreign investors (Basis: Foreign Investment Promotion Act.)
  • Eligibility
    • Investors that meet the investment criteria set forth in the Enforcement Decree of the Foreign Investment Promotion Act
    • Industrial support service industry pursuant to the Enforcement Decree of the Restriction of Special Taxation Act or businesses requiring advanced technologies
    • Businesses deemed necessary for the promotion of the local specialty industries
  • Amount of support
    • below the investment made by the foreign investor
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