Investment Incentives

Tax Exemption

Tax Exemption Target: Qualified business, Tax, Requirement, Period
Qualified business	Qualified business
Qualified business	Tax	Requirement	Period
New growth engine industry technology accompanying business and industrial support service business Business in stand-alone type foreign investment zone	National tax Corporate tax Income tax	New growth engine industry technology accompanying business and industrial support service business : None Stand-alone type foreign investment zone Manufacturing business: USD 30 million Tourism business: USD 20 million Logistics business: USD 10 million R&D: USD 2 million	Tax exemption for 7 years 100% for 5 years 50% for 2 years
	Local tax Acquisition tax Property tax		Aquisition tax exemption for 10 years (100% for 7 years, 50% for 3 years) * New growth engine industry technology accompanying business and industrial support service business for 8 years (100% for 5 years, 30% for 3 years) Property tax exemption Cheongju: 15 years (100% for 10 years, 50% for 5 years) * New growth engine industry technology accompanying business and industrial support service business for 10 years (100% for 6 years, 30% for 4 years) Chungju: 10 years (100% for 7 years, 50% for 3 years)
	Tariff Special consumption tax VAT	Capital goods brought in by foreign investors as dividends	Completion of import declaration within 5 years
Complex-type foreign investment zone	National tax Corporate tax Income tax	Manufacturing business: USD 10 million	Tax exemption for 5 years 100% for 3 years 50% for 2 years
	Local tax Acquisition tax Property tax	Manufacturing business: USD 10 million	Tax exemption for 10 years 100% for 7 years 50% for 3 years
	Tariff	Capital goods brought in by foreign investors as dividends	Completion of import declaration within 5 years

Support for Lease

Rental period: 50 years

Detail

Support for Lease: Classification, Condition for exemption and reduction, Lease exemption
Classification	Condition for exemption and reduction	Lease exemption
Stand-alone type foreign investment zone	Manufacturing business with investment over USD 30 million	100% exemption
Complex-type foreign investment zone	High-level technology accompanying business with investment over USD 1 million	100% exemption
Complex-type foreign investment zone	Manufacturing business with investment over USD 5 million	75% exemption

※ Support for lease(provision of leased land) can change depending on whether the budget is secured or not.

Financial Support

Employment subsidy

※ Chungbuk: within KRW　1 billion per business
- Qualified business: In the case when companies hire 20 or more workers within five years from the date of FDI company registration
- Amount of subsidy: KRW 100,000~500,000/month, within 6 months
Educational training subsidy

※ Chungbuk: within KRW 1 billion for each business
- Qualified business: In the case when FDI companies hire 20 or more workers and provide them with educational training
- Amount of subsidy: KRW 100,000~500,000/month, within 6 months

Cash Grant

Qualified business: business with over 30% of foreign investment share
Qualified business
- High-level technology accompanying business or industrial support service business with investment of over USD 10 million
- Foreign-invested companies that invest in parts, material and manufacturing industries with investment of over USD 10 million
- Research institutes which hire more than 10 researchers with master's degree and more than three years of work experience
Use: lease or purchase of land, purchase of capital goods and establishment of infrastructure
Support range: 5%~15% of total investment amount (local budget) (Provision of leased land is included in cash grant)

Administrative Support

PM(project manager) system
- government employees provide an exclusive support to projects from beginning to end
One-stop service: aftercare service system of Korea Industrial Complex Corporation and one-stop licensing service of local governments