Invest in the Future of Jeju Part 02. Investment Attractiveness of Jeju Special Self-governing Province 24 25 JDC Project Guide & Investment Proposal 4. Local Investment Promotion Subsidy Support Target Businesses Applicable Subjects Basis for Support The State’s Local Financial Support Standards for Local Governments’ Local Investment Company Attraction * Ministry of Trade, Industry, and Energy Notice No. 2021-194 Relocation of Companies in Metropolitan Area, & New/ Expanding Companies Manufacturing industries, information & communication industries, knowledge service industries [Targets Excluded] Real estate, consumerable service, nonstore, marine transportation brokerage, video hall, news provider, blockchain-based, crypto asset sales and brokerage, wholesald and product brokerage Requirements ◊ Number of full-time employees to be maintained during the project period (5 years) ◊ No bookkeeping/registration, transfer, provision of collateral for important assets, Collateral submitted in preparation for subsidy redemption Regions & Business Types Full-time Employees ◊ Number of full-time employees at the existing business site to be 30 or more ◊ Number of employees after relocation to be at least 30 or more ◊ (Including the number of employees at the existing business site) ◊ Number of full-time employees at the existing business site to be 10 or more ◊ Number of new employees to be at least 10% or more of that of the existing business site (min. 10) Relocation of Companies in Metropolitan Area ◊ Business performance for 1 year or more in Metropolitan Overcrowding Control Area* ◊ Investment of KRW 1B or more (KRW 30B or more for large corporations) New/Expanding Companies ◊ Companies that have been in business for 1 year or more in a row in Korea ◊ The type of business operated in Jeju shall be the same up to the subclass (3 digits) of the Korean Standard Industrial Classification as that of the business type of the existing business ◊ Expansion of the existing business or a business closely related to the existing business Requirements for Investment ◊ Independent business site to relocate to Jeju, the existing business site to be closed or sold ◊ The existing business site to be maintained (closing, selling, leasing, or downsizing prohibited) ◊ Exception can be made when the business site is located in Metropolitan overconentration control area. Support Type Settlement Facility Within 10% of the land purchase price Within 30% of the land purchase price 65 : 35 (National Expenses : Provincial Expenses) (New establishment / expansion) no settlement subsidy Mid-sized Companies Large Corporations SMEs Remarks (Support ratio of national/ provincial expenses) Within 7% of the facility investment Within 5% of the facility investment Within 9% of the facility investment 65 : 35 (National Expenses : Provincial Expenses) ◊ Additional support for regional specialized industries (3% to 10%) ◊ Additional support for facility subsidy support ratio depending on the number of new employment (2% to 10%)
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