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Gimje Invests KRW 96.1 Bn in Gimje Free Trade Zone

(GIMJE=NEWSIS) According to Gimje City on September 3, the 2015 budget for the establishment of the Gimje Free Trade Zone (FTZ) has increased to KRW 96.1 billion from KRW 76.6 billion.

"The increased project cost will solve the issue of securing finances, which allows Gimje to concentrate on attracting excellent companies at home and abroad. We have laid the foundation for establishing the Gimje FTZ at an earlier than expected time," said a Gimje official.

The tenants of the Gimje FTZ will receive various incentives including low land rent (KRW 50/㎡), tariff benefits, zero tax rate of surtax and reduction of national and local taxes.

Source Text

Source: Newsis (September. 03, 2014)

** This article was translated from the Korean.