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Tax Reduction

Information on Tax Reduction:Information on the kinds of reduction, requirements, national tax, and local tax available.
Types Qualifications National Tax Local Tax
High Technology Industry,
Industrial Support Service Industry
High value, high technology, economic effects and etc.
  • Income tax and Corporate Tax → 100& reduction for 5 years, 50% for 2 years
  • Customs, Individual Consumption Tax, VAT → exemption (Capital goods to be introduced within 5 years)
  • Acquisition tax
    →100% of foreign investment ratio
  • Property tax
    →100% reduction for 7 years, 50% for 3 years

    ※ Changwon city, Sacheon city, Geoje city : exemption for 15 years
Individual Type of Foreign Investment Zone
  • Manufacture industry with USD 30 million / Tourism industry with USD 20 million
  • Logistics Industry with USD 10 million / R&D with USD 2 million
  • Information & Communications Service with USD 30 million
Complex Type of Foreign Investment Zone
  • Manufacture industry with USD 10 million
  • Tourism industry with USD 10 million
  • Logistics Industry with USD 5 million
  • Income tax and Corporate Tax
    → 100% reduction for 3 years, 50% for 2 years
  • Customs
    → exemption (Capital goods to be introduced within 5 years)

※ Other Industrial Complex

  • Acquisition tax : 75% reduction in case of new constructions or extensions of industrial buildings (factories, warehouses), 50% reduction in case of major repairs
  • Property tax : 100% exemption for 5 years

Rent Reduction

Information on Rent
Rent Reduction Reduction Rate Lease period/Rent
Individual Type of Foreign Investment Zone 100%
  • Period : Maximum for 50 years
  • Rent : 1% of the land value
Complex Type of Foreign Investment Zone Industrial Support Service or High Technology Industry with over USD 1 million 100%
Manufacture Industry with over USD 5 million 75%
Component Parts Complex Over USD 5 million 100%
National, General, Urban high-tech, and Agricultural industrial Complex 50%

Aids for Foreign-Invested Enterprises

Information on Support for Foreign-Invested Enterprises
Aids for Foreign-Invested Enterprises Categories of Aids Aids
Basic Requirement Over 30% of foreign investment or a foreigner being the majority shareholder of the enterprise Subsidy for difference in parcel/sale price Subsidy for difference in parcel/sale price within 50% of normal range of parcel/sale price
High Technology Industry, Industrial Support Service Industry
  • Factory : Over USD 1 million of foreign investment and over 30 in regular employment
  • R&D: Over USD 2 million of foreign investment
Employment subsidy Maximum KRW 2000 million
Regionally Specialized Industry Over USD 5 million of foreign investment and over 50 in regular employment Education training subsidy Maximum KRW 2000 million
Manufacture Industry Over USD 10 million of foreign investment and over 50 in regular employment
Tourism Industry Over USD 20 million of foreign investment Facility subsidy Maximum KRW 2000 million
Logistics Industry Over USD 10 million of foreign investment

Cash Support

Investment with large economic effect with over 30% of foreign investment rate
[location support, infrastructure, construction, capital goods, employment and education training subsidy supports → Over 5% of foreign direct investment (FDI)]

Significant Incentive for Extensive Investment

For companies with more than USD 100 million of investment or with more than 300 in regular employment, incentives is guaranteed up to KRW 10 billion upon the consent of the Provincial Assembly.

최종수정일 : 2017-12-13

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