Simple & Easy Law Info

Simple & Easy Law Info

Foreign investors

Foreign Investors Support for Foreign Investors www.easylaw.go.kr Esay to find Practical Law



Q. What benefits can foreign investors expect for investing in Korea? www.easylaw.go.kr Esay to find Practical Law



1. Tax incentives The following tax incentives are provided for certain foreign-invested businesses (Article 121-2(1) of the Restriction of Special Taxation Act) to support and promote foreign investment in Korea. · Reduction and exemption of corporate tax and income tax levied on the income accrued from the business eligible for tax incentives · Reduction and exemption of acquisition tax and property tax on assets acquired and holding · Customs duties, individual consumption tax, and value-added tax according to the procurement of capital goods www.easylaw.go.kr Esay to find Practical Law



2. Special cases for the lease and sales of state-owned and public properties Certain foreign-invested companies may receive reduction and exemption of lease when renting land, etc. owned by the state or local governments. When purchasing land, etc. owned by the state or public properties, certain foreign companies may defer payment of the purchase price or pay in installments, and the interest should not exceed 4% per year in that case. www.easylaw.go.kr Esay to find Practical Law



3. Cash grants If a foreigner makes foreign investments with a foreign investment ratio of more than 30%, certain funds may receive cash grants by restricting the uses (Article 20-2(2) of the Enforcement Decree of the Foreign Investment Promotion Act). www.easylaw.go.kr Esay to find Practical Law



4. Support from Invest Korea, etc. Foreigners can receive comprehensive services such as investment counseling, investment reporting, corporate establishment, and resolution of management difficulties related to foreign investment through “Invest Korea(www.investkorea.org)”. www.easylaw.go.kr Esay to find Practical Law



5. Administrative support Among petitions related to foreign investment, direct handling of petitions such as those related to business registration can be handled directly by dispatched officials (public officials dispatched to Invest Korea). Foreign investors or foreign-invested companies can request petitions such as preparing and submitting petition x-documents to Invest Korea. www.easylaw.go.kr Esay to find Practical Law



For detailed legal information, please refer to『Foreign Investors』 in easylaw.go.kr. www.easylaw.go.kr Esay to find Practical Law





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