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Designation of Foreign Investment Zones

A foreign investment zone is designated and announced by a Mayor or
Do Governor under the Foreign Investment Promotion Act to vitalize foreign investment

Service-Based Foreign Investment Zone

A zone(including buildings) designated for lease or transfer to foreign direct invested companies engaging in the service business with high added values, such as finance and R&D

Eligibility

Research and development business At least 5 researchers hired
Financial and insurance business
Knowledge service industry At least 15 employees hired
Culture industry
Tourism(excluding casino)

Requirements

Foreign investment ratio of at least 30 percent Investment equating to at least the total amount granted as building rent and at least 100 percent of the value equivalent to the leased land or building

Details

Amount limit: Up to 50 percent of the standard rent
(not including a rental security deposit)
Duration: Up to five years during the term of the occupancy contract.
One renewal to be allowed during the same period.
Payment: Ex-post settlement of rent on a yearly basis