CHEONAN-SI CHEONAN-SI

Entrance Qualifications and Matters of Support

Residence qualifications

Complex
  • Investment amount: over 248 thousand KRW/㎡
  • Foreign investor stake: Over 30% share in capital increase
  • Type of business: Manufacturing businesses, distribution businesses, etc.
  • The FDI condition states that an investment that exceeds the temporary site price must be made within 5 years of the contract being signed
Individual
(Foreign investment business & FDI conditions)
  • Manufacturing business: Over $30 million
  • Tourism business: Over $20 million
  • R&D: Over $2 million (10 people with Masters degrees of 3 years or over)

Foreign investment business incentive regulations

스크롤 표시 이미지
Foreign investment business incentive regulations
외국인투자기업 인센티브 규정에 대한 표로서 구분, 단지형, 개발형에 대한 내용입니다.
Division Complex Development
Tax reduction
  • Corporate tax, income tax: 5 years (3 years: 100%, +2 years: 50%)
  • Local tax (city, state): 100% within 15 years
  • 5-year capital goods exemption
  • Rental fee: 10/1,000 of site value
  • Corporate tax, income tax: 7 years (5 years: 100%, +2 years: 50%)
  • Local tax (city, state): 100% within 15 years
Reduction and support – common factors
  • Conditions: Manufacturing business: Over $10 million/Distribution business: Over $5 million
  • 5-year capital goods exemption
  • For industry support service businesses and high-technology head businesses: A 7-year reduction in income tax and corporate taxes, regardless of region
  • Cash support ratio: 60% national expenditure, 40% local expenditure (city: 20%, state: 20%)
  • Article 6, Clause 4 of the National Financial Funding Support Standards for Foreign Investment Invitation Activities by Local Governments
  • Article 8, Clause 8 of the Cash Support System Operation Guidelines
  • Article 10, Clause 2 of the Ordinance and Enforcement Regulations of Foreign Investment Invitation Promotion in Chungcheongnam-do
  • Infrastructural support: All sorts of facility support provided, including 100% water and 50% gas/waste water.