• Home
• ECO&TRADE
• Guide of Investment
• Countermeasure of Support

Countermeasure of Support

The Government's Supports for Relocation to other provinces

Subject: Companies and plants that have operated in the density control area of the metropolitan region for five years or longer (until 2005).

Tax Support

100% exemption of corporate taxes for six years. 50% exemption for the following five years.

Postponement of corporate taxes on sales profit for three years. Installment payment thereof for the following three years.

100% exemption of property taxes and general land taxes for five years. 50% exemption for the following three years.

100% exemption of registration tax and acquisition tax.

Support Measures of Jeollabuk-do

Subsidiary fund support for opening of small and medium scale businesses to foster competitive capabilities.

Facility Investment Cost: \1 billion per company, annual interest of 4.5% (unredeemable for three years, paid back over a five year period).

Special Support Area (Jeongeup Industrial Complex 2 and 3). Tenant limit is \2 billion

Operating Fund: \300 million per company, at an annual interest rate of 4.5% (unredeemable for one year, to be spread over two years).

Small and medium scale company business administration stabilization fund: Within \0.3 billion, at an annual interest rate of 4-5% (unredeemable for two years at one time. The installment payment must be evenly spread over a two year period).

Venture Company incubating fund:

Kickoff Fund: \0.6 billion won per company (facilities, operation), at an annual interest rate of 3% (unredeemable for three years, to be paid back over a five year period).

Growth fund: \0.2 billion per company (operation), at an annual interest rate of 5% (unredeemable for three years, to be paid back over a five year period).

Support for industry-academia joint technology development consortium (50% government funding, 25% do funding, 25% from industry)

Jeongeup's Support Plan

Tax support

National tax: Corporate tax, income tax (50% exemption until 31st December, 2003).

Provincial tax: Acquisition tax, registration tax (exempted) / Property tax, general land tax (50% exemption for five years).

Other support

Companies that have received the small and medium scale company incubating fund of the do (province) are redeemable for an interest balance within a 2% limit.

The party that has commissioned sales of Industrial Complex 3, receives a paid reward of a maximum ten million won.