• GUIDANCE
  • Cash Grant

    The central and local governments have a number of programs that provide cash support to foreign-invested companies for their investment in businesses expected to have significant economic ripple effects.

    Requirements
    New establishment of factory or business
    Foreign Investments with a foreign investment ratio of 30% or higher

     

     

    Eligible Industry 1) High-tech industry
    2) Industry supporting service business
    3) Advanced parts and materials manufacturing
    4) New job-creating business (50-300 employees)
    5) R&D facilities for new growth engine industries

    5 or more full time researchers with a master’s degree or a bachelor’s degree with at least 3 years of research experience in relevant field

    6) Global Regional Headquarters

     

     

    Incentives
    Land or building purchase or rental cost
    Construction fees for factory or research facilities
    Cost to purchase capital goods or research equipment
    Infrastructure installation cost
    Training and employment subsidy

    Employment & Training Subsidy

    Seoul Metropolitan Government provide an employment subsidy in order to encourage foreign invested enterprises to create high-quality jobs.

    Requirements
    It has not been more than 5 years since a foreign-invested company has registered (or an additional foreign investment has been made)
    Foreign Investments with a foreign investment ratio of 30% or higher
    The number of regular employees was increased by more than 10 from the previous year as a result of foreign investment

     

     

    Eligible Industry 8 new growth engine industries
    1) IT convergence
    2) Digital content
    3) Green industry
    4) Business service
    5) Fashion and design
    6) Finance
    7) Tourism and Convention
    8) Biomedical

     

     

    Incentives
    For each employee in excess of 10 newly hired employees per month for up to KRW 1 million per employee for up to six months (not exceeding KRW 200 million per company).

     

     

    Link
    http://investseoul.com/bbs/board.php?bo_table=sub4_1&wr_id=92

    Tax Support

    When foreign investments meet certain conditions, national and local taxes are reduced or exempted in accordance with the Restrictions of Special Taxation Act.

    Requirements
    New establishment of a factory or business

     

     

    Eligible Industry
    High Technology industry
    Industry-Supporting Service Business
    Companies located in Individual-type Foreign Investment Zone (FIZ)

     

     

    Incentives
    Corporate tax and income tax : 100% exemption for 5 years + 50% reduction for an additional 2years
    Acquisition tax and property tax :100% exemption for 10 years + 50% reduction for an additional 5 years
    100% exemption for customs duties

     

     

    Tax Reduction Application Procedure

    *Tax reduction and exemption will be determined and applicants notified within 20 days after the date of application.

  • Cash Grant

    The central and local governments have a number of programs that provide cash support to foreign-invested companies for their investment in businesses expected to have significant economic ripple effects.

    Requirements
    New establishment of factory or business
    Foreign Investments with a foreign investment ratio of 30% or higher

     

     

    Eligible Industry 1) High-tech industry
    2) Industry supporting service business
    3) Advanced parts and materials manufacturing
    4) New job-creating business (50-300 employees)
    5) R&D facilities for new growth engine industries

    5 or more full time researchers with a master’s degree or a bachelor’s degree with at least 3 years of research experience in relevant field

    6) Global Regional Headquarters

     

     

    Incentives
    Land or building purchase or rental cost
    Construction fees for factory or research facilities
    Cost to purchase capital goods or research equipment
    Infrastructure installation cost
    Training and employment subsidy

    Employment & Training Subsidy

    Seoul Metropolitan Government provide an employment subsidy in order to encourage foreign invested enterprises to create high-quality jobs.

    Requirements
    It has not been more than 5 years since a foreign-invested company has registered (or an additional foreign investment has been made)
    Foreign Investments with a foreign investment ratio of 30% or higher
    The number of regular employees was increased by more than 10 from the previous year as a result of foreign investment

     

     

    Eligible Industry 8 new growth engine industries
    1) IT convergence
    2) Digital content
    3) Green industry
    4) Business service
    5) Fashion and design
    6) Finance
    7) Tourism and Convention
    8) Biomedical

     

     

    Incentives
    For each employee in excess of 10 newly hired employees per month for up to KRW 1 million per employee for up to six months (not exceeding KRW 200 million per company).

     

     

    Link
    http://investseoul.com/bbs/board.php?bo_table=sub4_1&wr_id=92

    Tax Support

    When foreign investments meet certain conditions, national and local taxes are reduced or exempted in accordance with the Restrictions of Special Taxation Act.

    Requirements
    New establishment of a factory or business

     

     

    Eligible Industry
    High Technology industry
    Industry-Supporting Service Business
    Companies located in Individual-type Foreign Investment Zone (FIZ)

     

     

    Incentives
    Corporate tax and income tax : 100% exemption for 5 years + 50% reduction for an additional 2years
    Acquisition tax and property tax :100% exemption for 10 years + 50% reduction for an additional 5 years
    100% exemption for customs duties

     

     

    Tax Reduction Application Procedure

    *Tax reduction and exemption will be determined and applicants notified within 20 days after the date of application.


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