JEONBUK STATE

Investors

Local Investment Promotion Subsidy

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Targets

Targets : Corporations
  • 1. Manufacturing
  • 2. IT
  • 3. Knowledge Service

Description Subsidy Limit: 12.5 Billion KRW (10 Billion by national subsidy + 2.5 Billion by local subsidy)

Description
Category Areas Type of Subsidy Scope of Subsidy (ratio of investment amount)
big enterprises medium enterprises small enterprises
New/Expansion (Facilities) Jeonju, Iksan, Wanju Facility investment Up to 5% Up to 7% Up to 9%
Gunsan Up to 11% Up to 19% Up to 24%
Other cities/countries Up to 8% Up to 11% Up to 14%
Transfer from metropolitan areas (Facilities + Site) Jeonju, Iksan, Wanju Site - Up to 10% Up to 30%
Facilities Up to 5% Up to 7% Up to 9%
Gunsan Site - Up to 25% Up to 50%
Facilities Up to 11% Up to 19% Up to 24%
Other cities/countries Site - Up to 20% Up to 40%
Facilities Up to 8% Up to 11% Up to 14%

* Upper, Medium and Lower Regions of Balanced Development in Jeonbuk State: Upper Region (none) Medium Region (Jeonju, Gunsan, Iksan, Wanju) Lower Region (other cities & counties). However, Gunsan is a special industrial crisis response region.

Qualification

Qualification
Category existing business place Investment method Investment activities
work experience employment
  • Relocation of independent business place from overpopulation control area
  • Closure or sales before completion of investment
  • More than 30 new employees
  • Investment of over 1 Billion KRW <30 Billion KRW for big enterprises>
Metropolitan Region Relocation More than one year More than 30 employees
  • New construction or change of purpose of existing buildings
  • Investment for purchase and heavy repairs of abandoned buildings
- New employment by over 10% of existing full time workers (minimum 10 new employees) * More than 30 new employees for small and medium enterprises, more than 70 new employees for big enterprises. - investment of over 1 Billion KRW, <30 Billion KRW for big enterprises>
New Establishment More than 10 employees
  • addition of structure to existing business place
Expansion

※ For new construction or expansion: It is mandatory to satisfy the requirements to enter intobusiness to maintain or expand existing business places or relevant businesses (the same 3-digit business code).