Invest in the Future of Jeju Part 02. Investment Attractiveness of Jeju Special Self-governing Province 14 15 JDC Project Guide & Investment Proposal Reduction of Various Charges Type Reduction Supports Development Charge Exemption Article 4 (Attachment 1 Item 4-d) of the Enforcement Decree of the Restitution of Development Gains Act Farmland Conservation Charge 50% Article 52 (Attachment 2 Item 3-f) of the Enforcement Decree of the Farmland Act Alternative Greenland Development Cost 50% Article 16-3 (Attachment 2 Item 6-a) of the Enforcement Decree of the Grassland Act Alternative Forest Resource Development Cost 50% Article 23 Section 1 (Attachment 5 Item 2-n) of the Enforcement Decree of the Mountainous Districts Management Act Public Waters Occupancy/ usage fee Exemption Article 13 Section 1 Clause 8 of the Public Waters Management and Reclamation Act Sewerage Causative Charge 15% Article 57 Section 4 of the Jeju Special Self-Governing Province Sewerage Use Ordinance National/Public Property Lease Lease Period 50 years for construction of permanent facilities or lease (renewal applicable) Subjects & Criteria for Reduction - 75% reduction for residing companies in Investment Promotion District. - 20 year instsallment when disposed. Related Provisions Article 165 of the Special Act on the Establishment of Jeju Special Self-Governing Province and the Development of Free International City ※ The lease of national/public property and reduction can only be applied when the investment project has been designated as Investment Promotion District through legal process and prior consultation with the relevant department. ※ Please contact Investment Promotion Division at Jeju Provincial Office for details. ※ Checking of relevant regulations is recommended when conducting business as investment policies may change. Investment Promotion District Designation Process STEP 1 Application for designation STEP 2 Establishment of a designation plan and collection of opinions and feedback STEP 3 Deliberation by the Provincial Comprehensive Planning Council STEP 4 Designation / Notification (Provincial Governor) STEP 5 Management of Investment Promotion District (Provincial Governor) Local Tax Individual type 75% reduction for 5 years from the date of designation Complex type / Residing Companies 75% reduction for 5 years from the date of acqusition of real estate or start of residence. ※ Application for reduction can be made when purchasing land. Details of Reduction Article 24-2 of the Jeju Special SelfGoverning Province Tax Exemption Ordinance Related Provisions Acquisition Tax Individual Type 75% reduction for 10 years from the date of addition Complex Type/ Residing Companies 75% reduction for 10 years from the date of addition or the first taxation. Details of Reduction Article 24-2 of the Jeju Special SelfGoverning Province Tax Exemption Ordinance Related Provisions Property Tax Tax Reduction National Tax Article 121-9 of the Restriction of Special Taxation Act Related Provisions Residing companies Exemption for 3 years and 50% reduction for 2 years thereafter Development project operator 50% reduction for 3 years and 25% reduction for 2 years thereafter Details of Reduction Corporate Tax & Income Tax Article 121-11 of the Restriction of Special Taxation Act Related Provisions Capitla goods imported (by 31st, Dec, 2023) for direct use in dutyfree project. Details of Reduction Tariff ※ Residing Companies - Individual Type: Investment companies in the area desired by the investors - Complex Type: Investment companies residing in the area favorable to facilitating investment
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