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Foreign Investment Policy

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Vision

Foreign investors contributing to job creation and local development

Goal

  • Attracting high-potential overseas companies
    ※ 2019: attracted 15 foreign-invested companies, financing over USD 5 million
  • Supporting the localization of the companies

Focus

Attracting FDI
Major projects5
  • Laying the groundwork for attracting FDI based on achievement and quality
  • Engaged in aggressive FDI attraction home and abroad with the utilization of FTA
  • Enhancing a groundwork for attracting investment form emerging economies including China
  • Designating a new foreign investment zone
※ Goal: designating a complex for foreign investors in Cheonan Industrial Complex No. 5 in 2012
Providing industrial sites and incentives customized to the needs of each investors
  • Supplying industrial sites to facilitate additional investment from foreign companies
  • Establishing information network on industrial sites for foreign investors
  • Offering incentives to investors contributing to job creation
Aggressive investment promotion
  • Organizing IR events abroad
  • Promoting incentives provided by Chungnam (raising awareness of foreign-invested companies’ contribution to the local economy)
  • Managing comprehensive statistics with utilization of administrative information system
Supporting localization of foreign companies
Creating a human-friendly residential environment
  • Conducting the feasibility tests on the establishment of foreign schools
  • Increasing the number of medical clinics designated for employees and executives of foreign invested companies
  • Suggesting the introduction of real estate investment immigration system
  • Supporting the issuance of Express Card for foreign investors
Providing localization program
  • Familiarization tour to offer exact information on Chungnam
  • Offering information on daily lives and cultural events for foreign investors
Enhancing corporate support governance and post-management
  • Facilitating the operation of the FDI committee
  • Organizing seminars with executives of foreign investment companies and the Governor attending
  • Resolving grievances of foreign investors to entice additional investment