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Designation for Foreign Investment Zone

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Designation for Foreign Investment Zone

Designation for Foreign Investment Zone (Stand-alone type)
More than US$ 30 million worth of investment
The manufacturing or industry support service business, business that involves high skills
More than US$ 20 million worth of investment
  • Resort condominium business, tourist hotel business, coastal tourist hotel business and Korean traditional hotel business
  • Professional resort business, total resort business and universal amusement facility business, international conference facility, youth training facility
More than US$ 10 million worth of investment
  • Complex distribution terminal business, a business that builds and operates a joint terminal facility center
  • Business that operates harbor facilities and distribution industry managed by harbor rear complex
  • Business that operates the airport facilities and distribution industry managed within the airport district
  • Business that builds society based facilities for the implementation of social overhead capital
More than US$ 2 million worth of investment
To implement research development activity for industry support service business and highly skilled business setup and to establish new research facilities (employment of research exclusive manpower with more than three years of research experience and above master’s degree in the related area should be more than 10 staff members)
Procedures
Please refer to the information below
  • Develop designation plans of foreign investment zone
  • Request deliberation of foreign investment zone (mayor or provincial governor → Minister of Trade, Industry and Energy)
  • Deliberation by the Foreign Investment Committee (Ministry of Trade, Industry and Energy)
  • Designate and announce the designation of foreign investment zone
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Support
Support : Corporate & income taxes, Acquisition taxes, Property tax, Tariff, individual consumption tax, Corporate & income taxes
Corporate & income taxes 100 percent exemption for five years and 50 percent for the following two years
Acquisition taxes 100 percent exemption for 15 years
Property tax (Jung · Nam · Dong · Buk-gu) 100 percent exemption for seven years and 50 percent for the following three years (Ulju-gun) 100 percent for 15 years
Tariff, individual consumption tax, Corporate & income taxes 100 percent exemption(Exemptions will only apply to capital goods that are directly used in tax-free projects, and that have completed the import notification five years after the date of the foreign investment notification. Under unavoidable circumstances, one year extension will be granted.)