• GUIDANCE
  • Cash Grant

    Seoul Metropolitan Government provides cash grants for foreign investment in business types that have a significant effect on the domestic economy.

    Requirements
    Establishment or expansion of a business/manufacturing facility
    Foreign investment ratio of 30% or more

     

     

    Eligible Businesses 1) Business accompanying high technology
    2) Industry supporting services
    3) Hi-tech involved parts & materials manufacturing that exerts great technological spillover and creates much added value
    4) Projects that create many new jobs [50 to 300 jobs] by new or added factories and other places of business
    5) Establishment or expansion of research facility
    6) International or regional headquarters for multinational corporations

     

     

    Incentives
    Rent or purchasing cost of land of building
    Costs for constructing factory facilities or research facilities
    Expenses for purchasing capital goods and research equipment
    Costs for installing basic electrical and communications facilities

    Employment & Training Subsidy

    Subsidies are paid for employment or education/training after considering the number of employees hired and the effect on local economic development.

    Requirements
    Within five years from the registration of a foreign-invested enterprise (or from additional foreign direct investment)
    Foreign investment ratio of 30% or more
    More than 10 persons are to be newly hired in addition to the number of permanent employees of the foreign-invested enterprise in the preceding year
    Education or training is provided by vocational education/training institutes when education or training subsidies are provided

     

     

    Eligible Businesses 1) Foreign investment projects attracted by the SMG

    Businesses that have been directly induced by the Seoul Metropolitan Government by sighning MOUs

    2) Foreign-invested enterprises that invest in the eight new growth industries designated by the SMG

    IT convergence

    Green Industry

    Digital Content

    Business Services

    Fashion Design

    Finance

    Tourism and Conventions

    Biomedical

     

     

    Incentives
    Maximum of KRW 1,000,000 per employee per month for up to six months for each newly hired employee in excess of 10.

    Subsidy up to KRW 200 mn per company may be provided for employment or education/training

     

     

    Link
    http://investseoul.com/bbs/board.php?bo_table=sub4_1&wr_id=92

    Tax Support

    For foreign investments that meet certain conditions, acquisition tax and property tax are reduced or exempted under the Seoul Metropolitan Government ordinances mandated by Restriction of Special Taxation Act.

    Requirements
    Establishment of a business/manufacturing facility

     

     

    Eligible Businesses
    New growth engine industry

     

     

    Incentives
    Acquisition tax and property tax :100% exemption for 3 to 5 years + 50% reduction for an additional 2 years
    (the period can be extended up to 15 years by the local government)

     

     

    Tax Reduction Application Procedure

    *Tax reduction and exemption will be determined and applicants notified within 20 days after the date of application.

  • Cash Grant

    Seoul Metropolitan Government provided cash grants for foreign investment in business types that have a signicant effect on the domestic economy.

    Requirements
    Establishment or expansion of a business/manufacturing facility
    Foreign investment ratio of 30% or more

     

     

    Eligible Businesses 1) Business accompanying high technology
    2) Industry supporting services
    3) Hi-tech involved parts & materials manufacturing that exerts great technological spillover and creates much added value
    4) Projects that create many new jobs [50 to 300 jobs] by new or added factories and other places of business
    5) Establishment or expansion of research facility
    6) International or regional headquarters for multinational corporations

     

     

    Incentives
    Rent or purchasing cost of land of building
    Costs for constructing factory facilities or research facilities
    Expenses for purchasing capital goods and research equipment
    Costs for installing basic electrical and communications facilities

    Employment & Training Subsidy

    Subsidies are paid for employment or education/training after considering the number of employees hired and the effect on local economic development.

    Requirements
    Within five years from the registration of a foreign-invested enterprise (or from additional foreign direct investment
    Foreign investment ratio of 30% or more
    More than 10 persons are to be newly hired in addition to the number of permanent employees of the foreign-invested enterprise in the preceding year
    Education or training is provided by vocational education/training institutes when education or training subsidies are provided

     

     

    Eligible Businesses 1) Foreign investment projects attracted by the SMG

    Businesses that have been directly induced by the Seoul Metropolitan Government by sighning MOUs

    2) Foreign-invested enterprises that invest in the eight new growth industries designated by the SMG

    IT convergence

    Green Industry

    Digital Content

    Business Services

    Fashion Design

    Finance

    Tourism and Conventions

    Biomedical

     

     

    Incentives
    Maximum of KRW 1,000,000 per employee per month for up to six months for each newly hired employee in excess of 10.

    Subsidy up to KRW 200 mn per company may be provided for employment or education/training

     

     

    Link
    http://investseoul.com/bbs/board.php?bo_table=sub4_1&wr_id=92

    Tax Support

    When foreign investments meet certain conditions, national and local taxes are reduced or exempted in accordance with the Restrictions of Special Taxation Act.

    Requirements
    Establishment of a business/manufacturing facility

     

     

    Eligible Businesses
    New growth engine industry

     

     

    Incentives
    Acquisition tax and property tax :100% exemption for 3 to 5 years + 50% reduction for an additional 2 years
    (the period can be extended up to 15 years by the local government)

     

     

    Tax Reduction Application Procedure

    *Tax reduction and exemption will be determined and applicants notified within 20 days after the date of application.


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