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Tax Exemption

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Tax Exemption

Possible candidates
  • Businesses developing technologies of future growth driver* : future mobility, energy- environment etc. and whose investments amount to more than USD 2 million.
    * application (Businesses ⇒ Ministry of Economy and Finance) -> FDI notification -> application for tax exemption(Ministry of Economy and Finance) -> deliberation to confirm qualification requirements (Ministry of Economy and Finance, relevant government agencies and municipal authorities) -> notification of approval (Ministry of Economy and Finance)
  • FIZ (individual / independent types): Manufacturing: USD 30 million Tourism: USD 20 million Logistics: USD 10 million, R&D: USD 2 million
  • Resident businesses in Free Economic Zone(FEZ): Manufacturing: USD 10 million Tourism: USD 10 million Logistics: USD 5 million, R&D: USD 1 million
Support
  • Acquisition Tax : 100% exemption for 15 years
  • Property Tax : (Jung-gu, Nam-gu, Dong-gu) 100% exemption for 7 years and 50% for the following 3 years/ (Buk-gu, Ulgu-gun) 100% exemption for 15 years
  • tariff, special consumption tax, value added tax exemption
    ※Duty relief only in FEZ