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National Industrial Complex Investment Incentives

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  • Location Support
  • 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 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 General Investment
  • Location : Less than 50% of the land price
  • Cash : Maximum about USD 4 M (Jeollabuk-do and Gunsan-si respectively)
Large-scale Investment
  • Location : Less than 50% of the land price
  • Cash : Investment more than USD 83 M or employment of 300 workers /Limit :Up to USD 33 M
    ※ Location support amount will be deducted from cash grant provision amount
  • Plant Building : Maximum USD 4 M
  • Facility Investment : Maximum USD 4 M for location support
Employment USD 125 for six months per employee exceeding 20 workers / USD 0.8 M
Educational & Training USD 83 for six months per employee exceeding 20 workers / USD 0.6 M
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
    • Bryan IM : bigyim@gmail.com
    • Jee Eun Kim : mangodream@korea.kr
  • China
    • KIM EUN CHEOL : yinzhejin@korea.kr
    • KIM JIEUN : jieun0815@korea.kr
  • Japan
    • Yeo, Kyeong Joo : yjk08@korea.kr
  • Homapage, QR Code
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