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Investment Infomation

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Investment Support Policy

Jeju Investment Promotion Area (same for local/foreign visitors)

Tax privilege in investment promotion area (for local/foreign visitors)

  • Basis for Designation

  • Special Act on the Establishment of Jeju Special Self-Governing Province and the Development of International Free City Article 162

  • Total Business Expenses

  • Tourism-related: new investment of USD 20 million or above

    Other: new investment of USD 5 million or above

  • Designation Target

  • 24 types of business (tourism, education, medical treatment, high-tech, cultural industry, etc.)

  • Total Corporate Tax
    Income Tax
    (National Tax)

  • Incoming business: 100% (for 3 years), 50% reduction for 2 years after

    Development business operator: 50% (for 3 years), 25% reduction for 2 years after

  • Customs

  • Exemption applied to capital goods imported within 3 years from designation date for use in target business

  • Acquisition Tax
    (Local Tax)

  • 85% reduction for 5 years from designation date (date of acquisition)

  • Property Tax
    (Local Tax)

  • 85% reduction for 10 years from designation date (date of acquisition)

  • National and Public Property

  • Lease for 50 years, 75% reduction in rental fee

  • Other Charges

  • Exemption: occupation and use fee for public water, development charge

    50% reduction: farmland conservation charge, alternative farmland development cost, alternative forest resources development cost

    15% reduction: charges for sewerage causes

Foreign Investment Area (Individual Type)

  • Designated Basis

  • Foreign Investment Promotion Act Article 18

  • Designation Targets and Investment Amounts

  • Manufacturing/High-Tech Industry (USD 30 million)

    Tourism (USD 20 million)

    Logistics (USD 10 million)

    High-tech industry research center (USD 2 million or above, 10 or more researchers)

  • Acquisition Tax
    Property Tax
    (Local Tax)

  • 100% for 5 years from designation date (date of acquisition), 85% reduction for 10 years after

  • Tariff

  • 100% reduction for capital goods imported within 5 years from date of reporting capital goods investment

  • Procedure for Designation

  • Registration (investor) ↓ Request for deliberation as foreign investment area (governor) ↓ Deliberation by committee on foreign investment (Ministry of Trade, Industry and Energy) ↓ Notification of designation as foreign investment area (governor)

Support benefits for incoming and newly established businesses

  • Incoming Business from Metropolitan Area

    • Support Target

      Businesses having business performance for 3 years or longer in metropolitan area and with 30 or more regular employees transferring its headquarters, plant, or research center (previous establishment being shut down or disposed)

      Exception: businesses related to real estate, consumptive service businesses, construction businesses, non-store sales businesses

      Limitation of Support: KRW 10 billion for each business (75% national expense, 25% province expense)

    • Location Subsidy

      Conglomerate : N/A

      Mid-sized company : within 20% of land purchase price

      SMEs : within 40% of land purchase price

    • Facilities Investment Subsidy

      Conglomerate : within 11% of facilities investment

      Mid-sized company : within 19% of facilities investment

      SMEs : within 24% of facilities investment

  • Incoming Business from Outside Seoul

    • Support Target

      Businesses with business performance of 2 years or longer in other areas and 10 or more regular employees transferring its headquarters, plant, or research center (province expense: 100%)

    • Subsidy Business

      Location subsidy : 25% of land purchase price

      Facilities investment subsidy : 10% of facilities investment

      Employment subsidy : 12 months x KRW 500,000 / 1 person (max: KRW 100 million)

      Education / Training subsidy : 6 months x KRW 500,000 / 1 person (max: KRW 100 million)

  • Newly established or expanded business

    • Support Target

      SMEs with business performance of 3 years or longer, 10 or more regular employees, and investment of KRW a billion or above and business type corresponds to wide-area cooperation industry, major industry, and regionally concentrated industries

      New employment after investment must be 10% or above (at least 10 people) compared to employees in previous place of business

      Maintenance of previous business place (shutdown, disposal, lease, downsizing prohibited)

      Limitation of support: KRW 10 billion for each business (75% national expense, 25% province expense)

    • Facilities Investment Subsidy

      Conglomerate : within 11% of facilities investment

      Mid-sized company : within 19% of facilities investment

      SMEs : within 24% of facilities investment

  • Information Communication and Culture Business

    • Support Target

      Business where business type corresponds to information communication and culture business, renting buildings, and hiring local people as regular employees (province expense 100%)

    • Subsidy Business

      Rental (employment of 10 people or more) : 50% of rental for 3 years (max: KRW 500 million)

      Facilities/Device purchase cost (for employment exceeding 10-50 people) : device purchase cost provided
      - 30% for employment exceeding 10 people
      - 40% for employment exceeding 20 people
      - Up to 50% for employment exceeding 30 people)
      (max: KRW 500 million)

      Subsidy (for employment exceeding 10 people) : 6 months x KRW 1 million / 1 person, 70% of 6-month average wage (max: KRW 300 million)

      Education/Training subsidy (for employment exceeding 20 people) : 6 months x KRW 1 million / 1 person, actual cost requirement for each person (max: KRW 300 million)

* Details specified above are summarized.
* Policy and regulations related to investment are subject to change. Be sure to check on the relevant regulations.