Investment Procedure::Saemangeum Development and Investment Agency

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Saemangeum Development and Investment Agency

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Investment Procedure

Investment Procedure(Stages, Main Content, Support Measures)
Stages	Main Content	Support Measures
Step1 Expression of investment intent (LOI)	Submission of performance capability evidence Business information memorandum by investors and consortium participants (Company status, performance, financial status, organizational chart, internal agreement, etc.) A financing plan and financial institutions’ certificates, etc.	Support for feasibility study Information on physical environment including site survey results and investment conditions Providing data on risk factors (Risk factors involved in approvals, management practices, etc.) Providing project-related information
Step2 Submission ofinvestment proposal	Business Goals / Backgrounds Development plan (basic concept, major facilities, development strategies, construction plan) Financing and input plan Borrowed capital, owner’s capital Project implementation plan and structure Feasibility analysis results, ripple effects Project Management Process management plan Risk Management Plan to reduce negative effects Funds recovery/repayment plan Management/operation plan Site/facility management/disposal/sale Attraction of brands and tenants, etc.	Information on investment proposal preparations Introduction of domestic partners if desired Implementation/construction Legal/Accounting/Consulting/Financial Institutions, etc. Providing relevant technical data Information on incentives and support measures like administrative services
Step3 Deliberation on investment proposals	Business plan feasibility analysis and adequacy review Verification of investors’ execution capabilities Those judged to have the implementation capabilities Designation as preferred negotiators	Appropriateness review of business implementation methods Evaluation of business plans’ feasibility, practicality, and stability Confirmation of consortium participants’ commitment and financing capability
Step4 Negotiation	Negotiation agenda finalization and negotiation commencement Agreement on investment principles Borrowed capital, owner’s capital	Setting predictable negotiation agenda to reduce busines periods and minimize administrative costs
Step5 Designation of investors	Implementation of investment preconditions: Designation of investors (foreign companies or consortiums) including the formation of implementation organizations Implementation of investment procedures Investment report, initial fund introduction, capital payment SPC/branch establishment and foreign-invested company registration	Support for investment procedures and administrative tasks Information on SPC establishment Consultation on legal affairs, accounting, and taxation Introduction on the import of foreign capital and investment assets
Step6 landcontract	Calculation of the sale price (land appraisal or creation cost) Land contract and deposit payment Register ownership transfer after balance payment	Reduction in rent in case of lease Land acquisition-related tax reduction Review of long-term payment plans at the time of purchase
Step7 Acquisition ofbusiness permits and licenses	Approval of environmental impact assessment plans Acquisition of design and construction permits and licenses	Decisions on necessary permits and licenses (comprehensive support) Launch of a dedicated department for each investment business Appointment of project managers and information on investment condition surveys
Step8 Launch ofDevelopment Plans	Kickoff of factory construction Commencement of land clearance (civil works)	Land and facility utilization approval prior to the final inspection SOC facility support Priority support for infrastructure

Investment Procedure(Stages, Main Content, Support Measures)
	Stages	Main Content	Support Measures
Project preparation stage	Step1 Expression of investment intent (LOI)	Submission of performance capability evidence Business information memorandum by investors and consortium participants (Company status, performance, financial status, organizational chart, internal agreement, etc.) A financing plan and financial institutions’ certificates, etc.	Support for feasibility study Information on physical environment including site survey results and investment conditions Providing data on risk factors (Risk factors involved in approvals, management practices, etc.) Providing project-related information
	Step2 Submission ofinvestment proposal	Business Goals / Backgrounds Development plan (basic concept, major facilities, development strategies, construction plan) Financing and input plan Borrowed capital, owner’s capital Project implementation plan and structure Feasibility analysis results, ripple effects Project Management Process management plan Risk Management Plan to reduce negative effects Funds recovery/repayment plan Management/operation plan Site/facility management/disposal/sale Attraction of brands and tenants, etc.	Information on investment proposal preparations Introduction of domestic partners if desired Implementation/construction Legal/Accounting/Consulting/Financial Institutions, etc. Providing relevant technical data Information on incentives and support measures like administrative services
	Step3 Deliberation on investment proposals	Business plan feasibility analysis and adequacy review Verification of investors’ execution capabilities Those judged to have the implementation capabilities Designation as preferred negotiators	Appropriateness review of business implementation methods Evaluation of business plans’ feasibility, practicality, and stability Confirmation of consortium participants’ commitment and financing capability
	Step4 Negotiation	Negotiation agenda finalization and negotiation commencement Agreement on investment principles Borrowed capital, owner’s capital	Setting predictable negotiation agenda to reduce busines periods and minimize administrative costs
	Step5 Designation of investors	Implementation of investment preconditions: Designation of investors (foreign companies or consortiums) including the formation of implementation organizations Implementation of investment procedures Investment report, initial fund introduction, capital payment SPC/branch establishment and foreign-invested company registration	Support for investment procedures and administrative tasks Information on SPC establishment Consultation on legal affairs, accounting, and taxation Introduction on the import of foreign capital and investment assets
	Step6 landcontract	Calculation of the sale price (land appraisal or creation cost) Land contract and deposit payment Register ownership transfer after balance payment	Reduction in rent in case of lease Land acquisition-related tax reduction Review of long-term payment plans at the time of purchase
Business progress stages	Step7 Acquisition ofbusiness permits and licenses	Approval of environmental impact assessment plans Acquisition of design and construction permits and licenses	Decisions on necessary permits and licenses (comprehensive support) Launch of a dedicated department for each investment business Appointment of project managers and information on investment condition surveys
Business progress stages	Step8 Launch ofDevelopment Plans	Kickoff of factory construction Commencement of land clearance (civil works)	Land and facility utilization approval prior to the final inspection SOC facility support Priority support for infrastructure