Invest in Gyeonggi Province Industrial Complexes

Gyeonggi Development Corporation (President Gwon Jae-wook) held an investment briefing on the 7th at COEX in Samseong-dong, Seoul for six industrial complexes offering full tax and financial incentive support.

The industrial complexes targeted for the investment briefing include ▲Gimpo Yangchon Industrial Complex (510,000 pyeong) ▲Munsan Seonyu Industrial Complex (390,000 pyeong) ▲Osan Gajeong Industrial Complex (134,000 pyeong) ▲Yeoncheon Baekhak Industrial Complex (120,000 pyeong) ▲Yangju Namyeop Industrial Complex (62,000 pyeong) ▲Dongducheon Second Industrial Complex (57,000 pyeong)—a total of six complexes spanning approximately 1.27 million pyeong.

For resident companies, 100% exemption on real estate acquisition tax and registration tax, and 50% exemption on property tax are provided. For small and medium-sized enterprises relocating from the Seoul metropolitan overpopulation restriction zone, 100% corporate tax exemption is granted for four years following business registration.

Additionally, venture small and medium-sized enterprises launching operations receive a 50% reduction on income tax and corporate tax for five years from the tax year in which income is realized.

Furthermore, the corporation has established loan agreements with eight major commercial banks including Nonghyup, Industrial Bank of Korea, Hana Bank, Shinhan Bank, Woori Bank, Kookmin Bank, Business Bank, and Foreign Exchange Bank, and facilitates loans of up to 90% of the sale price for resident companies.

An official from Gyeonggi Development Corporation said, "The six industrial complexes are sites that have undergone thorough location analysis and development planning after soliciting opinions from business leaders and residents," adding that "they possess excellent location conditions in terms of transportation and information infrastructure, as well as consumption potential."