National tax benefits for relocated companies to Saemangeum Business Area

National tax benefits for relocated companies to Saemangeum Business Area(Requirements, Eligibility, Benefits)

Requirements	Eligibility	Benefits
Factory relocation from a large city	Domestic companies	5-year corporate tax installment payment following a 5-year tax deferral
HQ relocation from a metropolitan city under population control	Domestic companies Foreign companies	5-year corporate tax installment payment following a 5-year tax deferral
SME relocation from a metropolitan city under population control	Domestic companies Foreign companies	7-year 100% corporate/income tax exemption followed by a 3-year 50% reduction
Factory/HQ relocation from a metropolitan city under population control	Domestic companies Foreign companies	7-year 100% corporate tax exemption followed by a 3-year 50% reduction
A company founded in Saemangeum Industrial Complex (Gunsan)	Domestic companies Foreign companies	5-year 100% corporate/income tax exemption followed by a 2-year 50% reduction
Investment of more than KRW 50 billion	Project operator	3-year 50% corporate/income tax exemption followed by a 2-year 25% reduction

Local tax benefits for relocated companies to Saemangeum Business Area

Local tax benefits for relocated companies to Saemangeum Business Area (Requirements, Eligibility, Benefits)

Requirements	Eligibility	Benefits
HQ relocation from an area under population control	Domestic companies Foreign companies	5-year corporate tax installment payment following a 5-year tax deferral
SME relocation from a metropolitan city under population control	Domestic companies Foreign companies	100% acquisition tax exemption 5-year 100% property tax exemption followed by a 3-year 50% reduction
HQ relocation from a large city	Domestic companies Foreign companies	Exemption from registration and license tax
HQ relocation from a large city	Domestic companies Foreign companies	100% acquisition tax exemption 5-year 100% property tax exemption followed by a 3-year 50% reduction

Tax benefits for foreign-invested companies

Tax benefits for foreign-invested companies(Requirements, Benefits(National taxes /Local taxes))

Requirements		Benefits
		National taxes	Local taxes
New growth engine technology accompanying business	-	5-year exemption from customs duties, individual consumption tax, and VAT on capital goods	15-year 100% reduction in acquisition tax 15-year 100% reduction in property tax
Foreign-invested companies approved by the Saemangeum Committee	Over US$30 million in manufacturing Over US$20 million in tourism Over US$10 million in logistics Over US$2 million in research facilities
Other foreign-invested companies	Over US$10 million in manufacturing Over US$10 million in tourism Over US$5 million in medical institutions Over US$5 million in logistics Over US$1 million in research facilities Over US$10 million in service sectors	5-year customs duties exemption on capital goods
Project operator	Over US$30 million in total project cost, or over US$500 million in total project cost with an over 50% foreign investment ratio

National/Local subsidies

National/Local subsidies(Eligibility, Related expenses, Subsidies, Remarks)

Eligibility	Related expenses	Subsidies	Remarks
Domestic/foreign companies	Land purchase cost and facility investment	Up to 50% of the land purchase price and up to 34% of the facility investment Additionally up to 10% per employee	National 75% Local 25%
	Employment subsidy and education and training subsidy	Employment subsidy: up to within 1 billion won Education and training subsidy: up to 500 million won

Benefits in rent for state-owned properties

Benefits in rent for state-owned properties(Eligibility, Benefits)

Eligibility	Benefits
Domestic and foreign companies, research institute	1% or more of the property value (individual public land or nearby standard land price)

Benefits in rental period for state-owned properties

Benefits in rental period for state-owned properties(Eligibility, Benefits)

Eligibility	Benefits
Domestic and foreign companies, foreign medical institutions, foreign educational institutions, etc.	Rent for up to 50 years and extension for up to 50 years with permanent facility construction subject to permission

Benefits in contracts for state-owned properties

Benefits in contracts for state-owned properties(Eligibility, Benefits)

Eligibility	Benefits
Domestic and foreign companies	Private contracts possible for rental/sale

Subsidies by local governments

Subsidies by local governments(Eligibility, Benefits)

Eligibility	Benefits
Domestic and foreign companies	Investment subsidy (expenses/costs for land purchase/rental, construction, facility/ equipment purchase, infrastructure, etc.), relocation subsidy, employment subsidy, education, and training subsidy, etc.

For details, please check the ‘Investor Type (Link)’ Tab. Please reconfirm current investment incentive eligibility in relevant institutions (local governments, National Tax Service, etc.).