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Investment Incentives

Incentive for foreign investments in free economic zone

 
Type of tax Reduction details Reduction items
National tax Tariff Exemption for 5 years from import report date Imported capital goods
Local tax Acquisition tax Full waiver for up to 15 years
  • Manufacturing : Over $10 million
  • Tourism : Over $10 million
  • Logistics : Over $5 million
  • Medical institutions : Over $5 million
  • R&D : Over $1 million
Property tax Full waiver for up to 15 years
※ Dong-gu and Suseong-gu in Daegu, Dalseong-gun, Yeongcheon-si, Gyeongsangbuk-do
Full waiver for 10 years, 50% exemption for 5 years
※ Gyeongsan-si and Pohang-si, Gyeongsangbuk-do

Financial supports

Cash supports

Support over 5% of FDI
Costs of construction for factories and research facilities, hiring costs, training costs

Support decision by evaluation among foreign companies with a foreign investment ratio over 30%

Infrastructures

50% supports from national government expenditures such as roads, railways, airports, ports, sewerage, waist disposal facilities, and so on

Full support in case of approval by the committee of free economic zone

Foreign education and research institutions

Preparation costs for the establishment of foreign education and research institutions, initial operating expenses, construction costs, and so on

Conditions of evaluation parameter qualifications including reputation, contribution to the national development, and so on

Rental costs

Rental for the state-owned land at 10/1000 level of the land value for 50 years

After that, renewal within the range of 50 years

Miscellaneous

Deregulation on labors

Application exclusion of the priority employment obligations for the disabled, those of national merit, the seniors, and so on
Deregulation on the terms and subjects for dispatched workers, allowance of unpaid leaves, and so on

Free to trade FOREX

Direct payment between the parties for current transaction below $20,000

Application exclusion of Metropolitan Area Readjustment Planning Act

Exclusion of restrictions for the activities in overcrowding suppression areas and growth control areas in the Metropolitan Area Readjustment Planning Act
Exclusion of restrictions for overcrowding cost, population-densely facilities, and large-scale developmental projects