BUSAN < invest Korea

 According to Yonhap News,

(BUSAN=Yonhap News) Busan City announced February 24 that it will provide various incentives to relocated companies, u-turn companies and companies investing in the city.

When a company from the metropolitan area moves to Busan, it will receive 30% support for land purchase cost and 14% for equipment investment. A newly established or expanded company will benefit from equipment investment support.

The city also selected eight sectors related to marine tourism and urban infrastructure services for the convergence of internet of things for the regional strategic industries to promote creative economy and attract relevant companies.

Busan will capitalize on all resources including the subsidies to promote investment in the local governments (KRW 10 billion), subsidy to attract knowledge-based service industry (KRW 450 million) and investment promotion fund to proactively attract investment.

sjh@yna.co.kr

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