- Jeju Investment Promotion Zone
- Business : Tourism, culture, education, medicine, IT BT etc.
- Investment Scale : 5 million USD or more
- Investment Incentives
- CorporationIncome Tax : 100% exemption for 3 years, 50% reduction for 2 years
Special Benefits for Foreign Investors : 100% exemption for 5 years, 50% reduction for 2 years
- Property Tax : 100% exemption for 10 years
- RegistrationAcquisition Tax and Customs on Imported Equipments : Exemption
- 50% Reduction of Land Development Fee and Various Expenses
- Rent of ProvinceOwned Land : up to 50 years(renewal possible), Rental Fee Reduction up to 75%
※ Jeju is the only region in Korea that applies these incentives equally to Korean and foreign investors
- Foreign Investment Zone
- Businesses and Designated Requisites
- High Technology Industry Research Institute : Investment over 5 million USD, mandatory employment of more than 10 employees at all times
- Logistics : Investment 10 million USD or more
- Tourism : Investment 20 million USD or more
- Manufacture and Hightech Industry : Investment 30 million USD or more
- Investment Incentives
- Corporation tax/Income Tax : 100% exemption for 5 years, 50% reduction for 2 years
- Property Tax : 100% exemption for 15 years
- Registration, Acquisition Tax & Tax for Imported Capital Goods : Exemption
- Rent of ProvinceOwned Land : up to 50 years(renewal possible), rental Fee reduction 50%~100%
- ResortType Training Facilities
- Incentives for Establishment of Training Facilities (Designation of Jeju Investment Zone)
- Special SelfGoverning Province Tax Exemptions : 10 yrs Exemption(Acquisition, Registration, Property Tax)
- Duties on Imported Capital Goods : Exempted
- 50% Reduction in Various Costs : Lease for 100years, Reduction of Lease Amount by 75%
- Reducing Local Tax on Construction of A Training Facilites with Floor Space of 16,350㎡ : About $1.5 million US
(Aquisition Tax : $ 660,000 US, Registration Tax : $ 288,000 US, Others : within $ 500,000 US)
- Administrative Supports for Establishment of Training Facilities
- Providing Active Support to Securing Land for Training Center
- Proceeding with Active Support to Complete thd Land Use Planning Modification Procedure and Prior Environmental Review within the Planned Period
- OneStop Administrative Service to Process Preparation Procedures for the Training Center Construction
- Business Relocation from Metropolitan Area to Jeju & Investment Corporation Support
- Supported Businesses : culture industries, information technology industries, foreign direct investment corporations, knowledge based industries, hightech related industries, industry support services etc.
- Various Supports
- Subsidy for Facility : up to 10% of facility int expenses within 5million USD
- Subsidy for Purchasing Land : up to 50% of land purchase expenses with 5million USD
- Subsidies for employment education training subsidies & various financial support
- Support land purchasing, infrastructure support, working environment improvement expense support etc.
- Improvement in CorporateInvestment Environment
- One Stop Administrative Service System
- Basic governmental organization abolished : various approval period shortened
- Unification of government affiliated support facilities : Small & medium business administration, regional construction management office etc
- Establishment of One Stop Administrative Service Division : Conducting modification land usage for development, assessment of influence in environment & traffic
- Proving Investor Convenience
- Application of the Land Reservation System to provide land for investors
- Government´s environment & construction restriction authority transferred to Jeju special selfgoverning province
- Granting partial eminent domain to private businesses
- Permitting the establishment of foreign educational and medical institutions and improving foreign investors´ living environment
