Corporate Investment Support System

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Corporate Investment Support System

- Basis: Ordinance on corporate investment support at Incheon Metropolitan City
- Support: available within the budgetary limitations upon deliberation by the Investment Planning Committee

Criteria for subsidy support

Criteria for subsidy support
Classification	Subsidy criteria	Supported amount
Classification	Subsidy criteria	Ratio	Limit (per company)
Employment subsidy	As of the date of application, if the company hires more than 30 new employees as regular employees and all new employees are residents of Incheon City, the company will be entitled to an employment subsidy for every new employee over the 30th employee for a period up to six months	KRW 500,000/month	KRW 600 million
Employment incentive	If the tenant companies employ engineers, workers, and workers with more than five years of experience together and bring them into Incheon’s jurisdiction, the City Government will provide an incentive (in the form of a settlement support fund) for each employee for a period of up to six months. Limited to tenant companies that employed 50 or more regular employees for three years prior to relocating to Incheon Metropolitan City	KRW 500,000/month	KRW 500 million
Education and training subsidy	If the company has employed 30 or more employees for the past two years, it will be entitled to a subsidy for education and training programs that are one month or longer in duration. The company will receive a subsidy for each employee over the 30th employee for a period up to six months.	KRW 500,000/month	KRW 300 million
Lease	If the company rents an apartment-type factory or building and it employs more than 30 regular employees who reside in Incheon (confirmed using the resident registry) as of the date of the lease subsidy application, the company will receive a subsidy up to 25% of the lease throughout the duration of the contract.	Up to 25%	KRW 200 million
Facility subsidy	If total investments amount to more than KRW 5 billion, the company is entitled to 2% of every Korean Won over KRW 5 billion	Up to 2%	KRW 1.5 billion
Subsidy to support new and expanding companies	If the company has conducted its business in Incheon for five years or more, employed 50 or more regular employees, planning to invest more KRW 30 billion or more for new or additional facilities, and the company expects to employ 50 or more new regular employees as a result of the investment, it will be entitled to up to 2% of the total investment amount.	Up to 2%	KRW 1 billion
Special subsidy*	Up to 20% of paid local income tax (taxed for income only) for two years - Eligibility 1) Companies with total investments of KRW 100 billion or more, employs 300 or more regular employees, and companies that exert a significant influence over the local economy, as determined by the City Government (companies in the manufacturing, transportation, finance and insurance, education services industry as defined under the Korean standard industrial classification, and corporate headquarters) 2) Cutting-edge technology companies with total investments of KRW 30 billion or more or employs 100 or more regular employees, as defined by the Mayor. 3) Other companies that employ 100 or more regular employees and the Mayor determines necessary for Incheon’s development).	Up to 20%	2 years

Criteria for special subsidy recipients

Criteria for special subsidy recipients
Category	Industry Sector	Subsidy Amount
Large Scale Investing Corporations	1. Corporate headquarters 2. Manufacturing, transportation, finance and insurance, education service	20/100 of local income tax amount
Cutting-edge Technology Corporations	1. New industry sectors ∙IT convergence ∙RFID/USN ∙IT convergence ∙Robot ∙Bio ∙Medical equipment	15/100 of local income tax amount
	2. Key industry sectors ∙Metal materials ∙Production base ∙Production system ∙Clean base ∙Aerospace ∙Chemical process materials	15/100 of local income tax amount
	3. Information and telecommunication sectors ∙LED/light ∙Display ∙Semiconductors ∙Software ∙Next generation mobile communication	15/100 of local income tax amount
	4. Energy sectors ∙New renewable energy (thermal, electricity) ∙Energy efficiency improvement ∙Resource technology	15/100 of local income tax amount
Other Corporations	Other corporations requested by the market	10/100 of local income tax amount

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