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Introduction to foreign investment zones
| Amount of investment | Type of business | Type of investment |
|---|---|---|
| $30 million or more | Manufacturing, a business requiring cutting-edge technologies and a business providing industrial support service | Construction of a new factory |
| $20 million or more, but less than $30 million | A business operating a (marine) tourist hotel, a resort, or an international conference facility | Construction of a new facility |
| $10 million or more, but not less than $10 million | A business operating a cargo terminal, a joint cargo handling center, a port facility, a logistics operation, an airport facility, a logistics operation within an airport or an SOC | Construction of a new facility |
| $5 million or more, but less than $10 million |
A business engaged in R&D activities concerning cutting-edge technologies and industrial technology service - Hiring more than 10 regular employees holding a master’s degree and with an experience of 3 years or more |
Construction of a new facility or extension of an existing facility |
※ Concerning the calculation of the amount of foreigner’s investment, the portion that falls under the category of the rate of equity share as per the calculation method stated in the Tax Treatment Control Act, Enforcement Ordinance, Article 116-2, Paragraph 12 shall not be deemed to be an amount of foreign investment (the Foreign Investment Promotion Act, Enforcement Ordinance, Article 25, Paragraph 3) in case of a foreign corporation in which a Korean individual (not including one who has acquired the rights for permanent residence in a foreign country) or a Korean corporation that holds its stock or equity share either directly or indirectly.
Procedure for designation
| Making a plan for designation of Foreign Investment Zone | → | Asking for the deliberation of the Foreign Investment Committee | → | Deliberation by the Foreign Investment Committee | → | Designation of Foreign Investment Zone |
| Submitted to Mayor or Provincial Governor | → | Minister of Knowledge & Economy | → | Ministry of Strategic Planning and Finance | → | Mayor or Provincial Governor |
※ In making a plan for the designation, the relevant Mayor or the Provincial Governor shall listen to the opinions of the head of the relevant local administrative unit, residents and experts.
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