Skip Menu
go to contents go to top menu

Investment Support System

We introduce materials which give help to investment related to tourism investment.
Main Investment Support System Investment Support By Project Priority Investment Zone
인쇄하기

Priority Investment Zone

Introduction

The Ministry of Land, Infrastructure and Transport1) integrated similar or overlapping regional development systems to stop overdevelopment and reckless development, and enacted the Regional Development Support Act on January of 2015, that helps strengthen local government autonomy, promoting locally-led development business.


The Regional Development Support Act integrated the following regional development systems into regional development zones; development promotion areas, specific areas, metropolitan areas, and general regional development areas prescribed in the Balanced Regional Development and Support for Local Small and Medium Enterprises Act (hereinafter referred to “the Balanced Regional Development Act”) and underdeveloped areas prescribed in the Special Act on the Promotion of Development Investments in Underdeveloped Area (hereinafter referred to “the Special Act on the Underdeveloped Areas”).

Regional development zones shall be promoted in two types; a hub-based and an underdeveloped area-focused areas with growth potentials.

A regional development zone equipped with large scale business strategies2) and the expected outstanding effects shall be designated as a priority investment zone, that shall be provided with comprehensive support such as exemption from regulations, incentives, etc.

1) Ministry of Land, Infrastructure and Transport (2014). Incorporated and Locally-led Development. Press release, May of 2014.
2) Industrial complex, distribution complex, tourist complex, harbor, tourist resort facilities, subway catchment area, etc.

Local Developing Support Law(Investment Leading Zone)

Designation

Three priority investment zones (a urban HOPE area, a urban-rural HOPE area, and a rural HOPE area) shall be designated within 201, and total 14 shall be expected until 2017.

Types of Priority Investment Zones
Types of Priority Investment Zones
Hub-based Priority Investment Zone Priority Investment Zone for Revitalization of Underdeveloped Areas
Location Urban HOPE Area (UHA) Urban-Rural HOPE Area (URHA) / Rural HOPE Area (RHA)
Requirements Investment of at least 100 billion KRW / employment of at least 300 Investment of at least 50 billion KRW / employment of at least 150
Size At least 100,000㎡ At least 30,000㎡

Source : Ministry of Land, Infrastructure and Transport (2014). Incorporated and Locally-led Development. Press release, May of 2014.

Investment Incentives

A regional development business zone and a priority investment zone shall be provided with a wide range of incentives such as exemption from regulations, tax/charges reductions or exemptions, administrative support, etc.

Local Development zone and Investment Leading Zone Incentives
Local Development zone and Investment Leading Zone Incentives
Regional Development Business Zone Priority Investment Zone
Special Cases of Regulations
  • Approval or permission under 62 Acts
  • Special cases of the followings

School curriculum

Medical facilities

Metropolitan transportation plan under the Special Act on Metropolitan Transportation Management

Sports facilities under Installation and Utilization of Sports Facilities Act

Unplanned land

  • Additional approval or permission

Designation of an industrial complex exclusive for lease

Special Tourist Zone designated and publicly notified

Cultural Industry Promotion Zone designated and publicly notified

  • Additional special cases

Deregulation of floor area ratio and building coverage

Designation of a special construction area

Preferred housing

Financial Support
  • Funding for regional development business
  • Funding for facilities
  • Additional funding

Funding for job education and training

Loan or subsidy for tourism promotion and development fund

Tax/Charges Reductions or Exemption Reductions or exemptions of taxes and 7 charges
Support for Infrastructure Funding to infrastructure construction
Administrative Support Approval and Permission, Investment and One Stop Service, Batch Processing Mode of 3 stage approval and permission

Source : Ministry of Land, Infrastructure and Transport (2014). Incorporated and Locally-led Development. Press release, May of 2014.

korea tourism organization

  • Korea Tourism Organization Headquarters, 10 Segye-ro, Wonju-si, Gangwon-do 220-170, Republic of Korea Tel +82-33-738-3000 Mail investtourism@knto.or.kr
  • Business registration No. 202-81-50707 Report of mail-order business 2009 Jung-gu, Seoul-1234Ho COPYRIGHT © 2007-2016 BY KTO. ALL RIGHTS RESERVED