Invest in the Future of Jeju Part 02. Investment Attractiveness of Jeju Special Self-governing Province 26 27 JDC Project Guide & Investment Proposal Local Investment Promotion Subsidy Support Process (Companies in Metropolitan Area, New/Expanding Companies) Application Period ◊ Settlement Subsidy : Within 1 year from the date of signing the location (change) contract (However, within 3 months from the reporting date of construction if 3 months from the reporting date of construction is earlier) ◊ Subsidy : Within 3 months from the reporting date of construction ※ For companies in the metropolitan area and new/expanding companies, the subsidy is paid after deliberation and decision by the Ministry of Industry Metropolitan Overcrowding Control Area / Overcrowding Control Area in accordance with Article 6 Section 1 of the Seoul Metropolitan Area Readjustment Planning Act / Overcrowding Control Area 1. Seoul Special City 2. I ncheon Metropolitan City [excl. Ganghwa-gun; Ongjin-gun; Daegok-dong, Bulo-dong, Majeon-dong, Geumgokdong, Oryu-dong, Wanggil-dong, Dangha-dong, Wondang-dong, Seo-gu; Incheon Free Economic Zone (incl. areas released from the Free Economic Zone); and Nam-dong National Industrial Complex] 3. Uijeongbu, Guri, Namyangju (only Hyeongyeong-dong, Pyeongnae-dong, Geumgok-dong, Ilpae-dong, Ipae-dong, Sampae-dong, Gamun-dong, Suseok-dong, Jigeum-dong, and Donong-dong are applicable), Hanam, Goyang, Suwon, Seongnam, Anyang, Bucheon, Gwangmyeong, Gwacheon, Uiwang, Gunpo, Siheung [excl. Banwol Special Area (incl. areas released from the Banwol Special Area)] PROCESS 7 Company Jeju ① 100% of the settlement subsidy ② 70% of the facility investment subsidy ※ Reporting of construction: 1 year from the date of notification that subsidy support is applicable PROCESS 8 Company Jeju Submission of settlement statement upon completion of the investment PROCESS 9 Province (Industrial Complex Corporation) ① Review of settlement application ② on-site verification of the business site PROCESS 10 Company Jeju Provision of 30% of facility investment subsidy PROCESS 11 Company Jeju Project implementation management (5 years) and inspection (once a year) PROCESS 1 Company Jeju Prior consultation and MOU signing ※ Signing to be concluded before land purchase PROCESS 2 Company Jeju Application for subsidy support considering the start date of construction PROCESS 3 Jeju Feasibility analysis and application review PROCESS 4 Jeju Ministry of Industry Subsidy application PROCESS 5 Industrial Complex Corporation On-site due diligence / briefing PROCESS 6 Ministry of Industry (Local Investment Promotion Subsidy Deliberation Committee) Feasibility analysis and decision on support and subsidy amount ※ 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. Additional Investment Installing business facilities through expansion of gross area of the business within local in purpose of expanding existing business or to enter a related field of industry. New Investment Building new business site or renewing and changing the usage of exsisting business facility or purchasing used business site for investment use and building facility in purpose of expanding existing business or to enter a related field of industry.
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