Subsidy for promotion of local investment
- Application target and eligibility
- [Relocation of metropolitan company to local area] HQs located in the metropolitan area, managed the existing business for 3 consecutive years, over 30 regular employee, investment in the same industry type as in the metropolitan area, closure of the existing business place
- [New and extended investment in local regions] Over 10 employees and management of the existing business for 3 consecutive years, investment in economic cooperation industry/key industry/region-focused business investment, maintaining the existing business place
- Scope of support
| Type of subsidy | Support ratio | ||
|---|---|---|---|
| Large company | Middle standing company | SME | |
| Location | - | Within 10% of the land purchase price | Within 30% of the land purchase price |
| Facility investment | Within 8% of the facility investment amount | Within 11% of the facility investment amount | Within 14% of the facility investment amount |
※ Location subsidy only applies to the relocation of metropolitan companies to local areas
Subsidy support for company investing in Jeollanam-do
- Target of support: A company investing over KRW 2 billion that signed an MOU with Jeollanam-do
- Scope of support: Budget of KRW 400 million or less can be supported for each company
※ Subsidy for promotion of local investment and Jeollanam-do subsidy cannot be applied at the same time
Tax exemption support
| Item | Relocation of a metropolitan company to a local area | A company moving into the industrial complex |
|---|---|---|
| Corporate tax | 100% for 7 years, 50% reduction for 3 years | 50% reduction on a newly established company for 5 years |
| Property tax | 100% for 5 years, 50% reduction for 3 years | 75% reduction for 5 years |
| Acquisition tax | Exempted | 75% reduction |
Financial support
- Loan facilitation such as land purchase cost, building facility cost, etc.
- Support on interest of SME development fund: Within 5%; for 1 year (within the loan amount of KRW 300 million)
Designation as a special support area for regional SMEs (only applies to move-in companies of Mokpo Daeyang Industrial Complex)
- Procurement of limited competition and private contract are supported for national institutes and local government organizations
- Preferred policy fund loan by the Small and Medium Business Administration and guaranteed by the Korea Technology Finance Corporation·Korea Credit Guarantee Fund