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Sansu Designated as Foreign Investment Zone

(CHEONGJU=NEWSIS) North Chungcheong Province announced on August 21 that the Foreign Investment Committee of the Ministry of Trade, Industry & Energy passed the bill to designate Sansu as a foreign investment zone.

Sansu is the second foreign investment zone in North Chungcheong Province following the Ochang Foreign Investment Zone in 2002.

The Jincheon Sansu Foreign Investment Zone will be established on 10,8430 ㎡ land in the Sansu Industrial Complex in Jincheon.

A foreign investment zone is divided into an individual type and a complex-type. The complex-type is then divided into a complex-type and mini-type (complex-type for SMEs).

The Sansu Foreign Investment Zone is under the mini-type.

The companies that move into the complex will befit from national and local tax reduction and financial funding.

The foreign companies in the complex will invest KRW 122 billion for the next five years and create 600 jobs.

Source Text

Source: Newsis (August. 21, 2014)

** This article was translated from the Korean.