Tax reduction (for 5 years): 75% reduction in acquisition and registration tax, 75% reduction in property tax
Support for local investment promotion subsidies (National cost matching)
Grounds for support: Country's financial support standards for attracting local investment
Support limit: KRW 6 billion in national expenses per company (including relocation, new and expansion)
Standards for support
Support for relocation of enterprises in the metropolitan area: at least 3 years in the metropolitan area, at least 30 permanent employees
Support for new and expansion in the province: Economic cooperation industries, major industries, and regional intensive attraction industries,
for more than 3 years in Korea, 10 or more permanent employees, 1 billion won in new investments, and more than 10% of new employment creation
Returning companies in Korea: 30 or more permanent employees in the same industry as overseas businesses for two years or more
Diversification of shipbuilding equipment and materials business: In the past two years, sales of shipbuilding equipment and materials
businesses have increased by more than 30% of total sales, 5 full-time employees, and sales of new industries or other industries by more than 30%
Support for investment companies (net province subsidies) inside the province
Grounds for support: Jeollanam Province Ordinance on the Promotion of Enterprise and Investment and Enforcement Rules of the same Ordinance
Subject to support: A company that enters into an investment agreement with our province and newly establishes, expands, or relocates factory facilities, etc.
Support limit: KRW 5 billion per company within budget
Types of support: Location subsidies, facility subsidies, employment, education, and training subsidies, etc.
Support for investment companies (net province subsidies) inside the province
Grounds for support: Gwangyang City Ordinance on Support for Attracting Domestic and Foreign Enterprises and Capital Investment and Enforcement Rules of the same Ordinance
Facility subsidy: Where a factory facility with an investment of more than 2 billion won is newly established or expanded,
it shall not exceed KRW 200 million per company within 2% of the facility amount exceeding KRW 2 billion
Subsidies for employment, education, and training: KRW 500,000 per person (6 months) for companies with more than 20 new employees
Bank loan profit compensation: 3% loan interest rate profit compensation to financial institutions