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Investment Incentives
Investment Incentives for Foreign Companies
Gyeongsangbuk-do provides the most attractive incentives to high-tech businesses and other businesses locating in the Foreign Investment Zones.
Tax Relief
Tax Relief High-tech businesses Industry-supporting services Individual type businesses in FIZ Industrial Complex type Businesses in Foreign Investment Zone (FIZ)
Corporate & Income Tax Exemption from taxes for 5 years, and a 50% reduction of taxes for the next 2 years Exemption from taxes for 3 years, and a 50% reduction of taxes for the next 2 years
Acquisition & Registration Tax, Property & Aggregate Land Tax Exemption for 15 years Acquisition & Registration Tax: Exemption Property & Aggregate Land Tax: 50% reduction for 5 years
Customs Duty, Special Excise Tax, and Value-added Tax Exemption for capital goods  
Investment Incentives for Foreign Companies
Activity Investment Attraction
National or local properties will receive a 50 ~ 100 % reduction for the companies investing over $5 million
For Gumi Foreign-Exclusive Industrial Complex the following apply :
- Rent will be reduced to 3,600won / pyeong (3.3㎡) / year
- Reduced rents will be for 50 years and are renewable.
- Hi-tech business investing over $1 million will receive a rent exemption.
Subsidies
Cash Grants
-High-tech businesses over $10 million will be eligible for cash grants.
-R&D Centers investing over $5 million and employing over 20 researchers will also be eligible for cash grants.
Employment & Training Aids
- Businesses employing over 20 new regular workers will be eligible for employment & training aids.
- The maximum awards are 1 million won per people per month.
- These will last for 6 months.
 
Investments Incentives for Domestic
Eligibility
Businesses employing over 20 new regular workers and over $2 billion in investments in high-tech business, and industry-supporting services in the Investment Attraction Zone will receive government incentives. Investment Business Gyeongsangbuk-do is designated as a strategic industry. Businesses employing over 100 new regular workers with great SOC projects with a huge ripple effect on local economic will also receive government incentives.
Grants (for New Building, Enlarging & Relocations)
Employment Aids
-Businesses employing over 20 new regular workers will be eligible.
- Each of the workers beyond the initial 20 will receive 500,000 won per month for 6 months.
- The maximum amount awarded in 6 months is 100,000,000 won.
Training Aids
- Businesses employing over 20 new regular workers will be eligible.
- Each of the workers beyond the initial 20 will receive 500,000 won per month for 6 months.
- The maximum amount awarded in 6 months is 100,000,000 won.
Training Aids
- Acquisition & Registration Tax: Exemption
- Property Tax: 100 % exemption for 5 years
Supports for Headquarter Transfers
- Businesses employing over 20 new regular workers will be eligible.
- Each of the workers beyond the initial 20 will receive 500,000 won per month for 6 months.
- The maximum amount awarded in 6 months is 500,000,000 won.
Special Aid
- Businesses investing over 50 billion won and employing over 500 new regular workers will receive special aid.
Subsidies
The Investment Committee of Gyeongsangbuk-do decides the possibility and limitation of grants based on investment volume, employment size, technology development, and contributions to the local economy.