GANGWON-DO < invest Korea

Project Overview

• Location : Bangye-ri, Munmak-eup, Wonju-si (within Bangye General Industrial Complex)
• Development Area: 95,832.3㎡
• Organized by: MOTIE, Gangwon-do, Wonju-si (Management entrusted to: Korean Industrial Complex Corporation)

Locational Condition

• Location : The Optimal transportation infrastructure in closest proximity with the capital area
• Accessibility (Transportation Infrastructure) : Munmak IC 2km, KTX(Seoul~Wonju: 50 minutes), Close to No.42 national road
• Nearby tourist attractions: Chiaksan, Mount Sogeum Suspension Bridge

Development Concept

• Designate some part (95,832.3㎡) of Industrial Complex as Foreign Investment Zone
• MOTIE, Gangwon-do, Wonju-si jointly purchased land
• Lease to foreign-invested companies at low prices(Rent KRW 249 per month/㎡)

Status of Land

• 95,832.3㎡(Stake: MOTIE 65.0%, Gangwon-do 17.5%, Wonju-si 17.5%)

Incentives

• Tax Support (Investment amount USD 10 million or more)
  - Acquisition Tax, Property Tax : Reduction of 100% for 7 years, 50% for 3 years (within the foreign investment stake limit)
• Low rent (Annual 1% of land acquisition value (KRW 2,988 per year/㎡)
  - If meet the condition of rent reduction, 75~100% to be reduced
  ※ Incentives to be discussed

Expected results

• Revitalize the local economy, create jobs, expand tax revenue by attracting foreign-invested companies

• General Information about Wonju-si
  
  

  • Area : 868㎢
  • Population : 353,855
  • Characteristics : The only city in Korea where an Enterprise city and an Innovation city are located
• Investment advantages

  • Equipped with the optimal transportation infrastructure, including air, railroads, and expressways
  • Expansion of Metropolitan Subway (to be completed by 2023)
  • Expansion of Joongang Line Double Track Subway (2020)
  • 2km from Yeongdong Expressway Munmak IC
  • KTX(Seoul-Wonju) 50 minutes