Free lease of land and buildings
- Companies backed by foreign investment that are involved in high-technology or sophisticated technology industries or that receive new foreign investments exceeding a certain level
- Land rent: 86 won to 43 won/㎡ per month
- Rent of standardized factory: 579 to 725 won/㎡ per month
| Business type | Rent | Period | Remarks |
|---|---|---|---|
|
Foreign invested companies
|
10 years of free use from the move-in day |
50 years | Renewable |
|
More than USD 1 million in investment
|
|||
Other foreign invested companies and local companies |
86 won/㎡/Month | 50 years | Renewable |
Land used by companies doing business in machinery or automobile industries or associated industries |
43 won/㎡/Month | 50 years | Renewable |
Targets for tax incentives
Targets
- Companies backed by foreign investments in sophisticated technology based industries or industrial service industries
- Manufacturing companies receiving more than 10 million dollars in foreign investment
- Logistics companies receiving more than 5 million dollars in foreign investment
Detailed incentives
- Reduction of corporate income taxes for five years (100% reduction for three years and 50% reduction for two years)
- 100% reduction of acquisition, registration, property and global income taxes for fifteen years
Tariff
- Non-tariff: no tariffs applied to foreign goods manufactured in a free trade zone office that does not have external tariffs
- Exemption or refund-Exempt or refund tariffs or taxes on domestic goods reported to be carried in to a free trade zone office
Zero rate of value-added taxes
- Domestic goods reported to be carried in to a free trade zone office
- Foreign goods and services provided between tenants
One-stop service
Administrative Agency provides one stop administrative services related to business activities like permission permits to move in and construction permits.