GWANGJU < invest Korea

According to Yonhap News,

Gwangju says it will find ways to revitalize the Cultural Industry Investment Promotion Zone by finding out and reflecting what businesses are calling for.

On July 23, the city government said that the Gwangju Information & Content Agency plans to meet with tenant companies located in the Cultural Industry Investment Promotion Zone on every Thursday from July to November to listen to them.

Under the Special Act on the Development of a Hub City of Asian Culture, 3 areas were designated as the Cultural Industry Investment Promotion Zone; Asia Culture Center; the Gwangju Information & Content Agency; the Akimbo Hotel (Ramada Chungjang Hotel).

Tenant companies located in the investment promotion zone will receive tax credits (corporate tax, acquisition tax) and subsidies (relocation, investment, employment, training, and consultation).

"We will identify many different obstacles that hamper growth of tenant companies as we listen to those businesses one by one. Some of them will be simple problems, but others will require serious policy discussions. We will fully support tenant companies to turn Gwangju into an attractive city of culture.", said Kim Yo-seong, head of the Culture and Sports Office of Gwangju City.

sangwon700@yna.co.kr

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Source: Yonhap News (Jul. 23, 2023)

*This article was translated from Korean.