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National Industrial Complex Investment Incentives

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  • Saemangeum
  • National Industrial Complex Investment Incentives
The Saemangeum Development Project provides incentives for investors in various forms such as the Saemangeum Special Act and the Foreign Investment Promotion Act

Incentives for Foreign-invested Company

Saemangeum National Industrial Complex to Create New Value for Northeast Asian Economy
Incentives for Foreign-invested Company : Category, Description
Category Description
Central Government (subsidy) Location support
  • Qualification : FDI of USD 30 M or more
  • Benefit : 100% Rent exemption
  • Degree of support: less than 50% of investment amount by the company
Cash Grant
  • Qualification : FDI ratio of 30% or more
  • Amount Ceiling : Within 5 to 40% of FDI (Amount decided by negotiation)
Local Government (subsidy) General case Less than 50% of the land price
Investment Less than 10% of the investment, upwards of KRW 8 billion
Employment Less than KRW 1 billion
Education & training Less than KRW 500 million
National Tax Corporate tax 100% exemption for 5 years+50% reduction for 2years for start-ups or newly established enterprises
(Industrial Crisis Zone, by April 4, 2022)
Customs 100% exemption for 5 years(For imported capital goods reported as foreign investment)
Local tax Acquisition Tax Property Tax 100% exemption for 15 years

Incentive Case

  • Toray (2016)
    • Field : Automotive PPS resin and compound
    • Benefit : Free rental for 100 years / 100% exemption of corporate tax for 5 years, 50% reduction for 2 years
  • Solvay (2016)
    • Field : Eco-friendly tire silica
    • Benefit : Cash support/ 100% exemption of corporate tax for 5 years, 50% reduction for 2 years
  • 8 small hidden champions in the electric vehicle field (2019)
    • Field : Bus, truck, camper, etc.
    • Benefit : Subsidy/100% exemption of corporate tax for 5 years

Contact

  • USA and Europe
    • Deputy director Kim Jee-eun : 063-733-1235
    • Assistant director Cho Hyung-ju : 063-733-1234r
  • Korea-China Industrial Complex, Sinosphere
    • Deputy director Kim Eun-cheol : 063-733-1231
    • Assistant director Kim Ji-eun : 063-733-1238