Support for capital invested Companies
Government Support
- Cash Support
- A certain percentage of the investment is provided as financial assistance, following a review by the Foreign
Investment Committee under MOTIE, based on whether the enterprise is classified under the new growth engine
industry as well as the impact of technology transfers, scale of job creation, impact on the local and national
economies, etc.
- Lease Support
- Foreign-invested companies can lease land for up to 100 years, with rent cuts.
Support from Local Governments
Support from Local Governments Category Jeollabuk-do Municipal government(si·gun)
| Category |
Jeollabuk-do |
Municipal government(si·gun) |
| Regular investment |
Cash |
Up to KRW 5 billion |
Up to KRW 5 billion |
| Land |
Up to 50% of the officially assessed land price |
Up to 30% of the officially assessed land price |
| Large investment |
Cash |
Up to 10 billion |
Up to 10 billion |
| Land |
Up to 50% of the officially assessed land price |
Up to 30% of the officially assessed land price |
| Factory infrastructure |
Up to KRW 3 billion for the industrial complex,
KRW 5 billion for individual enterprises
(access roads, electricity, gas, and wastewater facilities) |
- |
| Factory investment |
Up to KRW 5 billion(factory construction costs
and machinery/equipment installation costs) |
- |
Tax Deductions & Exemptions
Tax Deductions & Exemptions Deduction or exemption period and rate
| Category |
Deduction or exemption period and rate |
| Corporate tax, income tax |
Exemption for 5 years and 50% deduction for the following 2 years (Exemption for 3
years and 50% deduction for the following 2 years) |
| Local tax |
Exemption for 7 years and 50% deduction for the following 3 years |
| Tariff |
Exemption for 5 years |
＊ Eligibility criteria (investment): At least USD 30 million for manufacturing businesses (USD 10
million), USD 20 million f or tourism businesses (USD 10 million), USD 10 million for distribution businesses (USD 5
million), and USD 2 million f or R&D facilities (USD 1 million)
Other Support
In case of hiring more than 20 full-time employees, a monthly employment subsidy of KRW 1.5
million/person and a monthly education and training subsidy of KRW 1 million/person will be provided for up to 6
months.
Other Support Other Support,Jeollabuk-do,si·gun
| Category |
Jeollabuk-do |
si·gun |
| Employment subsidy |
Up to KRW 1 billion |
Up to KRW 200 million |
| Education and training subsidy |
Up to KRW 500 million |
Up to KRW 200 million |
