Overview
National tax benefits for relocated companies to Saemangeum Business Area
Requirements | Eligibility | Benefits |
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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
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
Requirements | Benefits | ||
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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 |
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Other foreign-invested companies |
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5-year customs duties exemption on capital goods | |
Project operator |
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National/Local subsidies
Eligibility | Related expenses | Subsidies | Remarks |
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Domestic/foreign companies | Land purchase cost and facility investment |
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National 75% Local 25% |
Employment subsidy and education and training subsidy |
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Benefits in rent for state-owned properties
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
Eligibility | Benefits |
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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
Eligibility | Benefits |
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Domestic and foreign companies | Private contracts possible for rental/sale |
Subsidies by local governments
Eligibility | Benefits |
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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.).