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Application Procedures for Investment Subsidies

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  • Application Procedures for Investment Subsidies
Please refer to the information below
  1. Investment MoU signing
    province, (city, county) company
  2. Move-in contract (factory establishment) signing
    city, county
    • Industrial complex move-in contract (industrial complex)
    • Factory establishment report (individual location)
    • Factory establishment business plan, etc.
  3. Move-in contract (factory establishment) approval
    management agency
    • Move-in eligibility criteria, and business value review and evaluation
  4. Land sale contract signing
    Korea Land and Housing Corporation (LH)
    • Business license copy
    • Corporate body register certified copy
    • Deposit 10% (total cost)
  5. Factory construction approval
    city, county
    • Construction approval application
    • Documents as stipulated in the Enforcement Regulations of the Construction Act
  6. Interim inspection application and use inspection
    construction company
    • Drawings and specifications
    • Construction supervision report
  7. Factory establishment completion declaration, factory registration
    city, county
    • Factory establishment completion report
    • Final building completion inspection, machinery and equipment installation
  8. Investment subsidy application
    province (separate for cities, counties)
    • Investment subsidy application (attached)
    • Investment business plan, factory registration certificate from previous location
    • Tax invoice, contract, and other documentary evidence
  9. Application review and on-site inspection
    province (separate for cities, counties)
    • Confirmation of machinery and equipment, building installation, and other forms of investment
  10. Investment subsidy evaluation
    • Certified accountant evaluation
  11. Investment Deliberation Committee deliberates, makes decision
    province (separate for cities, counties)
    • Deliberates, makes decision on application
    • eligibility, application criteria, etc.
  12. Investment subsidy issuance
    province (separate for cities, counties)
    • Subsidy deposit in corporate account
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※ Support for investment in tourism businesses is provided after it passes through a deliberation process by the Jeollabuk-do Tourism Industry Investment Promotion Committee (Department of Culture, Sports and Tourism).