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National Industrial Complex Investment Incentives
- Saemangeum Project Overview
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- Saemangeum National Industrial Complex
- 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
| Category | Description | |
|---|---|---|
| Central Government (subsidy) | Location support |
|
| Cash Grant |
|
|
| 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