JEONBUK STATE

Investors

Cash Support

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Targets

Enterprises with foreign investment ratio of over 30% (except long-term borrowing)

Qualification

  • New driving force technology, advanced technologies, and products, and materials, parts and equipment industry
  • Large-scale employment (over 300 employees for manufacturing and construction businesses, over 200 employees for wholesale, retail and accommodation businesses, over 100 employees for education service business)
  • New construction/expansion of R&D center, more than 5 researchers
    (including new driving force technology, advanced technology, and relevant business fields)

Support

  • (General) 5-20% of foreign direct investment (FDI)
  • (Advanced Industry) up to 40% of foreign direct investment (FDI)
  • (National Strategic Technology) up to 50% of foreign direct investment (FDI)

Application procedure

  1. Cash support application
    Foreign investment company →
    Ministry of Industry (KOTRA)
  2. Assessment and Limit Application
    • Assessment Committee of the Ministry of Industry
    • Limit Calculation Committee of the Ministry of Industry
  3. Deliberation and Resolution
    • Ministry of Industry
    • Foreign Investment Committee
  4. Execution of Cash Support Agreement
    Ministry of Industry – Local Authority – Foreign Investment Company