Invest in the Future of Jeju Part 02. Investment Attractiveness of Jeju Special Self-governing Province 16 17 JDC Project Guide & Investment Proposal 2. Foreign Investment Zone ※ 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. Overview of Foreign Investment Zone *Basis for Support : Article 18 to 20 of the Foreign Investment Promotion Act Overview Attraction of foreign investment related SMEs Requirements Lease Fee Reduction 30% or more / KRW 100M or more of foreign investment Applied in porportion to the total investment Requirements Lease Fee Reduction Designation deliberately made when reached the minimum amount of investment per industry (as follows) - [USD 30M] Manufacturing, IT, etc. - [USD 20M] Tourism development, etc. - [USD 10M] Complex logistics, etc. - [USD 2M] R&D facilities Up to 100% reduction ※ Decision made by Foreign Investment Committee in consideration of economic effect. Location Industrial Complex (national and general) Overview Designated through application from individual (investor) Location Applied area Complex Type Individual Type Overview Attraction of R&D projects and sevices with high added value. Requirements Lease Fee Reduction - 30% or more of foreign investment - Minimum number of employees [R&D] 5 or more [Others] 15 or more For residing contract - 10 years of reduction for land lease - 5 years for rent (builiding) Subsidy for Rent (building lease) - 50% of rent (based on national and local standards) Location Designated area (building) Service Type ※ Local Tax (Acquisition Tax / Property Tax): 85% (10-year) reduction – Individual type, complex type residing companies, investment companies in the field of new growth engine and source technology Foreign Investment Tax Reduction under the Restriction of Special Taxation Act, etc. Applicable Subjects Details of Tax Reduction Related Regulations Foreign Investment Companies 86% reduction for 10 years of acquisition and property taxation for commercial property. Article 121-2 Section 1 of the Restriction of Special Local Taxation Act Article 11 of the Jeju Special SelfGoverning Province Tax Exemption Ordinance Tariffs, individual consumption tax, and value-added tax of capital goods Exemption for 5 years Article 121-3 Sections 1 & 2 of the Restriction of Special Taxation Act Foreign Engineers 50% reduction of earned income tax (for 5 years) Article 18 of the Restriction of Special Taxation Act Foreign Workers 19% single tax rate applicable (for 5 years) Article 18-2 of the Restriction of Special Taxation Act
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