Successful Partner 15
CONTENTS
Vision of 04. Successful Investment Conditions Gangwon 06. Geographical Information of Gangwon-do (MAP) 1 Province
Chuncheon Bloc 08. East Chuncheon’s General Industry Complex 09. South Chuncheon’s General Industry Complex 2 10. Chuncheon Bio-Industry Cluster 11. Chuncheon High-tech City’s Cultural Industry Complex bright future with your Wonju Bloc 12. Wonju Munmak Bangye’s General Industry Complex 13. Wonju Munmak Bangye Foreign Investment Complex 3 14. Wonju Enterprise City SUCCESSFUL PARTNER 15. Wonju Tourism and Leisure
Donghae · 16. Donghae Free Trade Zone Gangneung Bloc 18. Gangneung Science & Industry Complex 4 19. International Hwajinpo RESOM Resort 20. Jumunjin Beach 21. Donghae Hansom Amusement Park
EFEZ 22. Donghae Bukpyeong ICI(International Complex Industry) Zone The Eastern 23. Donghae Four seasons Luxury goods Marine Composite tourist 5 Coast Bloc Free 24. Gangneung Okgye Industrial Complex for high-tech materials Economic Zone 25. Gangneung Global Settlement · Education · Culture Area
Alpensia Resort 26. Alpensia Resort Investment Immigration Program Gangwon Province promises success Investment 6 Immigration Gangwon Province is a clean and beautiful place emerging as an economic center in the Northeast Asia, where Program human and nature co-exist. Core infrastructure such as systematic expressways, railroads and ports perfectly connect Gangwon Province with Seoul metropolitan regions and the whole nation. It is an optimum place for investments equipped with industry-academic cooperation and the massive 2018Pyeongchang 28. Tourism industry project in 2018 Pyeongchang Chinese·Russian·Japanese market at the background. Winter Olympics Winter Olympics Special Zone 7 Special Zone 29. Green Business·Ocean Resort Zone The best business conditions, start at Gangwon Province. The best service with a volunteering spirit will meet the everlasting neighbors. With various incentives, Gangwon Province will become your solid partner. Tax Reduction 30. Tax Reduction and Investment Incentives and Investment Realize your big dreams in Gangwon. 8 Incentives Successful Investment Conditions Gangwon Province supports invested firms with the perfect infrastructures.
The optimum investment environment Ideal business infrastructure Providing a perfect service for corporate and businessmen who wish to transfer corporate and newly invest! Gangwon province is not only equipped with convenient residential environment such as various finances, In Gangwon province, corporate is the first priority. education, leisure, shopping cultural facilities and so on, but is also equipped with optimal business environ- ment including sufficient human resources and perfect social infrastructural facilities.
Convenient Rapid increase Excellent Human Various Industrial transportation Attractive land Clean and Natural of investment infrastructure site price Environment popularity Resources Complexes Provides site Convenient transportation Clean life environment • From domestic and • 21 universities • 1 National Industrial Complexes network that connects to with 1/10th standard of overseas investments metropolitan regions. that meets the standard • 31 university affiliated • 33 Provincial Industrial Complexes metropolitan regions of developed nations. recently research facilities • 42 Agriculture-industrial Complexes within 40 minutes (Within 100,000 • The best incentives • 117 high schools distance. Won per 1m²) nationwide • 163 middle schools
Systematic high-speed transportation network Pleasant Leisure Accommodation Facilities Core infrastructure such as expressways, railroads and ports perfectly connect the metropolitan regions and Environments of International Standards the nation, and prides in outstanding accessibility that connects to major cities in Northeast Asia within • 52 golf courses • 47 hotels • 9 ski resorts • 61 condominiums 2 hours distance by plane. • 94 beaches • 6 hot springs • 2 casinos Expanding and extending expressways • Construction of Dongseo Expressway (Seoul-Yangyang) : Seoul-East Hongcheon line has been completed, East Hongcheon-Yangyang line will be opened in 2016. • Construction of Second Yeongdong Expressway (Gyeonggi Gwangju-Wonju) : will be opened in 2016. • Construction of Donghae Expressway (Samcheok-Sokcho) : will be opened in 2015. Synergy effect of distinguished corporate who have already invested Expansion of the railroad network • Top ranking domestic and foreign manufacturing companies have created a successful business foundation. • With a One-stop service, from administrative support to fostering human resources, investments can be made • Dongseo High-speed Railway (Chuncheon-Sokcho) will be constructed. conveniently, assisting you actively to realize the future of the corporate. • Gyeongchun Line (Seoul-Chuncheon) Double Track Subway : high speed subway train (ITX Youth) started to run in 2012. • Joongang Line (Deokso-Wonju) Double Track Subway was opened. • Wonju-Gangneung Line Double Track Subway will be opened in 2017. • Donghae Joongbu Line (Pohang-Samcheok) : will be opened in 2019 (part of the line was opened) Chuncheon • Construction of the suburban railway in the capital area (Seoul Sinchon-Yeoncheon Sintan-ri-Cheorwon Daema-ri) : was opened. bloc
Expanding and extending national highway • National roads No.5 (Wonju-Cheorwon) • National roads No.7 (Samcheok- Goseong) • National roads No.31 (Yeongwol-Yanggu) • National roads No.38 (Jecheon-Donghae) ,etc. 12 lines. Wonju bloc
Flight CU Medical Systems,lnc • Operational planning of Yangyang International Airport 2015 • International flight : 27 lines (to China 24, Russia 2, Thailand 1) Donghae· ※China : Shanghai, Chongqing, Tianjin, etc. ※Russia : Vladivostok, Khabarovsk Gangneung Dongbu Metal • Domestic flight : 4 lines (Jeju, Incheon, Gimhae, Gwangju) bloc ※Foreign tourists who transfer at Yangyang International Airport are allowed to enter without visas for 120 hours.
Sea routes Gangwon Deep Others Eurus Energy Korea • Building up Tourism·Distribution Network (sea routes) Sea Water - DBS Cruise Ferry sea route : Donghae·Mukho Port~Japan Sakaiminato, Russia Vladivostok - Sokcho~Zarubino(Russia)·Hunchun(China) sea route : Sokcho~Zarubino·Hunchun, Zarubino~Russia Vladivostok • Plan for the opening of new sea routes - Donghae·Mukho Port : Donghae~Japan Tsurugashima, - Sokcho port : Sokcho~Japan Kitakyushu
4 SUCCESSfromGANGWON GANGWON PROVINCE 5 The Circum-East Sea Bloc Aerial·Navigational chart
Novosibirsk Ulan-Ude Geographical Information of EUROPE Flight Sea route TSR (Moscow~Vostochny 9,292km) Harbin Gangwon-do Kazakhstan Mongolia RUSSIAKhabarovsk Changchun Jilin Ishikariwan-shin Yanji Vladivostok Nakhodka Hokkaido Hunchun Vostochny Gangwon Province is • Feature Zarubino Tomakomai - The host of 2018 Pyeongchang Winter Olympics CHINA • Area : 16,873km² (16.8 percent of the country) Najin - The Eastern Coast Bloc was designated as a Free Economic Zone. Baekdusan • Population : 1.55 million - Adjacent to 25 million capital area. (3.2 percent of the country) - 1.08 million foreign visitors (As of 2012) Geumho Port Akita • Administrative district : 18 cities and counties - 10.18 million domestic tourism participants (As of 2012) (7 cities, 11 counties) Dalian Geumgangsan Sokcho Seoul Yangyang Niigata Incheon Donghae Fushiki-Toyama
KOREA JAPAN Tokyo International Hwajinpo RESOM Resort Yonago Donghae Bukbu Line’s Tsurugashima railroad construction Pohang Sakaiminato Goseong Hamada DMZ Busan Shimonoseki Kitakyushu Sokcho Port’s Shanghai International Ferry Terminal Wuhan
Sokcho Changsha
Cheolwon Hwacheon Yanggu J ung ang Exp Inje re Yangyang ss Donghae Expressway Shantou wa Shenzhen Gangwon Province, the Center for y E xt e n s The Circum-East Sea Bloc Distribution and io Yangyang Macao n International northern trading Economy Airport Donghae Chuncheon High-tech City’s Chuncheon Jumunjin Beach • Yangyang International Airport China 24 cities, Russia 2 cities Cultural Industry Complex Bio-Industry Cluster ❶ China : Shanghai, Macao, Shenzhen, Wuhan, Changsha, Shantou, etc. Chuncheon ❷ Russia : Vladivostok, Khabarovsk East Chuncheon’s Dongseo Expressway Green Business Marine Gangneung Science & Recreation Area Metropolitan Railway Extension South Chuncheon’s General Industry Complex Industry Complex Gangneung • DBS Sea Route General Industry Complex Hongcheon ❶ Donghae ↔ Vladivostok (once a week) : distance 580 km, Gangneung Global Settlement· Donghae Hansom 20 hours are required Education·Culture Area (EFEZ) Amusement Park ❷ Donghae ↔ Sakaiminato (once a week) : distance 386 km, ITX Cheongchun Train Gangneung Okgye Industrial Complex 15 hours are required Ju for high-tech materials (EFEZ) Gyeongchun Line Double Track Train ng an Alpensia g • NBO Sea Route : Seoul Seoul Chuncheon Expressway E Donghae Port’s x Donghae Four seasons Luxury goods p International r e Marine Composite tourist (EFEZ) Ferry Terminal Sokcho·Zarubino(Hunchun) · Baekdusan Sea Route s Gimpo International Airport Jungang Line Double Track Train s Yeongdong Expressway
w Donghae ❶ Sokcho ↔ Zarubino (once a week) : distance 508 km, a Yongsan y Hoengseong Hoengseong Wucheon’s Donghae Bukpyeong Donghae 16 hours are required New Yeongdong Expressway 2 New Establishment of General Industry Complex Wonju-Gangneung Railway ICI Zone (EFEZ) Free Trade Zone Incheon International Airport Wonju International Airport Pyeongchang Samcheok Wonju Tourism and Leisure Wonju Enterprise City Jungseon Wonju Donghae Jungbu Railway Construction
Wonju Munmak Bangye Wonju Munmak Bangye’s Foreign Investment Complex General Industry Complex Yeongwol
Taebaek
6 SUCCESSfromGANGWON GANGWON PROVINCE 7 Chuncheon Chuncheon Bloc Bloc
South Chuncheon I.C
Seoul-Chuncheon Expressway
Industry Industry
Industry Area limits Industry The city limits Industrial facilities sites Industry Park Parking lot Support Supporting facilities sites Support Park Support Park Retention facilities Green Green belt Industry belt Industry Pedestrian walkways
Waste water treatment facilities Public Waste treatment facilities fa- Heat supply facilities cilities Electric supply facilities sites Parking lot Cycletrack
East Chuncheon’s General Industry Complex South Chuncheon’s General Industry Complex
Business Overview Business Overview •Location : The whole area of San 174, Bongmyeong-ri, Dongsan-myeon, Chuncheon-si •Location : The whole areas of Gwangpan-ri, Namsan-myeon and Gunja-ri, •Development areas : 537,546m² Dongsan-myeon, Chuncheon-si Industrial facilities areas (309,499), supporting facilities areas (13,067), •Development areas : 1,447m² public facilities areas(94,813), Green facilities areas (120,167) (industrial facilities sites 779,830, supporting facilities sites 101,111) •Working expenses : About 56 billion won. •Types of attracted business : Biotechnology, IT, R&D, •Types of attracted business : Biofood industry, Chemical/Medical GoseongSokcho Port Cultural and Technological industry, other Manufacturing GoseongSokcho Port DMZ International Passenger● Terminal DMZ International Passenger● Terminal associated Biopharmaceutical Industry, Pulp, Paper and paper •Parcel price : (Predetermined price) 180,000won/m² Sokcho Sokcho products Manufacturing, Electricity, Gas, Steam and Air conditioning ●Yanggu ●Yanggu Cheorwon ● ●Hwacheon Yangyang Cheorwon ● ●Hwacheon Yangyang Supply Businesses. ●Inje km ●Inje km Yangyang 117 Yangyang •Predetermined parcel price : (Predetermined price) Chuncheon International Infrastructure Chuncheon International 118 km km 172,420 won/m² 129 Airport •Water : Industrial water 9,726 m³/day(waterworks), 127 Airport Gangneung Gangneung ●Hongcheon water for living 1,055m³/day(waterworks) ●Hongcheon 201 km 200 km 54 Communication : 24,587 lines 54 Seoul 88 km Donghae • Seoul 84 km Donghae Infrastructure km km km km km km •Waste : 440 tons/day 140 144 109 ●Hoengseong 105 ●Hoengseong •Water : Industrial water 12,236m³/day(waterworks), Gimpo International Airport Donghae Port •Entering road : 0.3km Gimpo International Airport Donghae Port Wonju Airport International Passenger Terminal Wonju Airport International Passenger Terminal water for living 109m³/day(waterworks) Incheon International Airport ●Jeongseon Incheon International Airport ●Jeongseon ●Pyeongchang ●Pyeongchang •Communication : 2,750 lines Wonju Samcheok● Wonju Samcheok● •Waste : 4,900 tons/day (working expenses 10.5 billion won) ●Yeongwol●Taebaek Locational conditions ●Yeongwol●Taebaek •Entering road : 1.5km •The region that has the best traffic conditions - Adjacent to Seoul-Chuncheon Expresway South Chuncheon IC Locational conditions East Chuncheon’s General Industry Complex (access to the capital area in 39 minutes) South Chuncheon’s General Industry Complex •Adjacent to Seoul-Chuncheon Expresway Joyang IC (5 minutes) - Expanding National support local road No.870, No.86 - Good access to Seoul and Chuncheon downtown (15 minutes from downtown) - Central Expressway is linked to the southern part of country (Chuncheon-Busan) •Has good development conditions for industrial complex because this •Complex boundary road, National highway No.5 (Chuncheon-Hongcheon) region is area of planned centralization according to the city masterplan. will be widened from two to four lanes (on the drawing boards) •Has good settlement environment associated with surrounding development conditions
8 SUCCESSfromGANGWON GANGWON PROVINCE 9 Chuncheon Chuncheon Bloc Bloc
Chuncheon Biotechnology Industrial Cluster specialized in biopharmaceutical materials domestically for the first time will establish the pipeline of natural substance pharmaceutical industry and will be reformed as a base of medical fusions.
4 1 2 5 3
Corporate Support Incentive • Creation (10 billion Won) and operation of Gangwon Bio·Medical Fund Is a hub of IT· Media cultural industry and - More than 70% invested in corporates located in Gangwon-do and corporates moving into Gangwon-do provides a good opportunity to domestic and • Creation (10 billion Won) and operation of Ak Invest Fund • Gangwon-do SME Fostering Fund Support 150 billion won foreign investors because of the improvement • Chuncheon City SME Fostering Fund Support 14 billion Won • Corporate Land Purchase Cost Support of accessibility to the capital area. (Differentiated support per investment standard)
Chuncheon Bio-Industry Cluster Chuncheon High-tech City’s Cultural Industry Complex
Business Overview Business Overview •Location : 32 soyanggangno Chuncheon-si (Hupyeong-dong 198-53) •Location : The whole areas of Geumsan-ri, Seo-myeon, Chuncheon-si •Areas : 35,717m² •Development areas : 186,545m², (parceling-out 9 lots : 29,000m²) •Types of moved-in business : Biopharmaceutical, Bioenvironmental, •Types of attracted business : Media · Audio · Broadcasting · information Bioelectronic, Biomaterials, Biofood industry, etc. businesses, Computer programming, System integration and administration business, Production and Distribution of recordings, Publishing, Goseong GoseongSokcho Port Sokcho Port Networking business, Advertising DMZ ● ❶ BIO - Block 1 (Area 11,654m²/4F) DMZ International Passenger● Terminal International Passenger Terminal •Has 62 Incubation rooms suitable for bio business •Parcel price : 208,000won/m² km Sokcho •BIO-Pilot Plant, Health Functional Food GMP and km Sokcho 110 ●107Yanggu ●Yanggu Animal Lab facilities Cheorwon ● ●Hwacheon Yangyang Cheorwon ● ●Hwacheon Yangyang ●Inje ●Inje Yangyang Yangyang BIO - Block 2 (Area 7,407m²/4F) International International ❷ Chuncheon 118km Locational conditions 122km •Has 20 Incubation rooms suitable for bio business Airport Chuncheon Airport Gangneung •Adjacent to Seoul-Chuncheon Expressway South Chuncheon IC Gangneung •7 One-Stop joint research analysis rooms km 206 km ●Hongcheon 94 ●Hongcheon 219 103 km (30 minutes from the capital area) km (has 250 Research analysis equipments) 65 73 Seoul km Seoul km km Donghae 10 minutes from Chuncheon downtown km Donghae km km • 150 BIO - Block 3 (Area 4,633m²/3F) 163 115 ❸ 123 ●Hoengseong •Media cultural · Information and Communications facilities ●Hoengseong •Has 16 Incubation rooms for research centered business Gimpo International Airport Donghae Port Gimpo International Airport Donghae Port Wonju Airport International Passenger Terminal are aggregated Wonju Airport International Passenger Terminal •American Investment Company ISS Incheon International Airport ●Jeongseon Incheon International Airport ●Jeongseon ●Pyeongchang ●Pyeongchang (International Scientific Standards Inc.)-Battle moved in. Wonju Samcheok● Wonju Samcheok● ●Yeongwol●Taebaek ●Yeongwol●Taebaek ❹ BIO - Block 4 (Area 9,542m²/4F) Location Analysis •Has 20 Incubation rooms for growth corporations •Has EU-GMP and specific facilities for manufacturing chip •Within approximately 1,000M radius Animation museum, Stop motion studio, BIO - Block 5 (Area 4,017m²/3F) Chuncheon Bio-Industry Cluster Chuncheon High-tech City’s Cultural Industry Complex ❺ Creation development center, Culture industry support center, •Has 24 Incubation rooms •Environment-friendly bio material business •Clean Agricultural materials business Park golf course, Creative village, Robot promotion experience hall, Viewer media center, Lego land etc Extra Gangwon Techno Park incorporated foundation Chuncheon venture second factory •Size : One basement, two floors on the ground (gross area 6,406m²), 8 rooms (story height 6m, about 400m²/room) •Rental fee : 4,538won/m²/month ※ Factory for lease only for foreign invested business(more than 100 million won), small scale investment is possible
10 SUCCESSfromGANGWON GANGWON PROVINCE 11 Wonju Wonju Bloc Bloc
Munmak-eup (Munmak I.C)
Seomgang Wonju
Area limits Food Electronic component Medical device Automobile parts Chemistry Housing site for migration National Highway No.42 Support facilities Foreign investment area Park Green belt Rivers Yeoju Retention facilities Wastewater mediation pumping station Foreign investment area
Munmak Agricultural Industrial Complex (the existing)
Wonju Munmak Bangye’s General Industry Complex Wonju Munmak Bangye’s Foreign Investment Complex
Business Overview Privileges of being a resident Business Overview •Location : The whole areas of Bangye-ri, Munmak-eup, Wonju-si Cheap rental fee •Areas : 99,132.3m² (in Wonju Munmak Bangye General Industrial Complex) •Location : The whole areas of Bangye-ri·Chwibyeong-ri, Munmak-eup, Wonju-si •1% of land acquisition amount annually •Types of moved-in business : Medical device, Automobile parts, •Development areas : 422,749.2m² - As for a business accompanying high technology of which Machinery·Metals, Electric and Electronic, Food, etc. Industrial facilities sites (282,269.6m²), Supporting facilities sites(23,896.4m²) investment amounts are more than a million dollars, 100% of the •Qualifications of being a resident : Should be wholly-owned foreign firms •Working expenses : 96.9 billion won rental fee are exempt and firms in which the ratio of foreign investment are more than 30%, and (compensation expenses 59.6, construction expenses 23.7, etc. 13.6) GoseongSokcho Port - As for a general manufacturing of which investment amounts are DMZ ● International Passenger Terminal the amount of foreign investment should be more than 100 million won. •Types of attracted business : Car and Trailer manufacturing, Food, more than five million dollars, the rental fee are reduced by 75%. •Rental fee : 2,988won/m²/year (1% of land acquisition amount annually) Electronic components manufacturing, Medical Device, Sokcho ●Yanggu •The lease : 50 years (renewal of the contract every 10 years) other mechanical equipments, chemical substances and chemical Cheorwon ● ●Hwacheon Yangyang Tax relief ●Inje Yangyang •National tax products manufacturing Chuncheon International
km Airport The merits of the investment - Corporate tax, income tax : are exempt for 5 years after beginning •Parcel price : 299,000 won/m² km 180 163 Gangneung •Manufacturing in Wonju-si has rapidly grown since 2006. business, after that the taxes are reduced by 50% for 2 years. ●Hongcheon Gimpo •Wonju-si was designated as a company city (5,290 m² thousand) and an •local taxes Seoul Donghae Infrastructure International 110 innovation City (3,612 m² thousand) at the same time. - Acquisition tax: Full exemption for 15 years after project initiation Airport 128 km km ●Hoengseong km •Water : Living 222m³/day, Industrial 2,178m³/day 148km 170 Donghae Port •Established Wonju Medical Device Cluster as a representative example - Property Tax: Exemption for 7 years after project initiation, and then International Passenger Terminal •Electric Power : 99MWH/year Incheon International Airport Wonju Airport ●Jeongseon for Korea Local Industry Promotion Business 50% reduction for 3 years ●Pyeongchang •Communication : 414 lines Wonju Samcheok● •Promotion of the Wonju National Industrial Complex in which medical - Composite land tax : total amount is exempt from the tax for 5 years •Waste : Treatment associated with Munmak Industrial Complex ●Yeongwol●Taebaek device and automobile parts are blended, etc. after beginning business, after that the tax is reduced by 50% for 2 (3,000 tons/day) years. Key Indicators and Business Infrastructure - Other customs duty, special consumption tax, VAT : 100% are Locational conditions Wonju Munmak Bangye General Industrial Complex •5% of the country on the basis of number of business in Gangwon Province exempt from the taxes (within 5 years since declaration date of foreign investment) •Is located to the southwest of Wonju-si, which is about 10km away medical device industry (as of 2012). from Wonju City Hall as the crow flies. •The volume of manufacture and the amount of export occupy 21% and ※ Information : Munmak General Industrial Complex and Munmak Agricultural Industrial 24% respectively. • T. +82-70-8895-7652 Korea Industrial Complex Corp.(Wonju branch) Complex are adjacent to this business site •6 Industrial Complex are running in the jurisdiction. ※ 2 km distant from Yeongdong Expressway Munmak IC •The largest automobile parts city in Gangwon Province (25 busnesses/2,700 employees are hired) •3 graduate schools, 4 universities, 2 colleges, 15 high schools
12 SUCCESSfromGANGWON GANGWON PROVINCE 13 Wonju Wonju Bloc Bloc
Research 7-6 3,785 Research 7-5 Land use plan Industrial sites 1,200 Research 7-4 2,000 Research 7-3 Research 7-2 1,300 1,200 Research 7-1 Commercial sites Production and R&D centered 3,000 Working sites School High-technology Industrial sites Public institutions Rest area Research 9 Reservation area 5,650 Retention area Industry 8 Public Convenience facilities B Area 39,011 Industrial sites Industry 9 14,318 Research facilities (kind of business discharging Sports/Leisure Place Business Support Center wastewater can move in) An apartment house Detached house Block type detached houses Industry 7 Neighborhood facilities 14,511 Industry 10 14,489 Sports/Leisure Place ※This development plan can be changed partially thanks to construction conditions under construction, deliberation and permission, etc. Industry 6 Industry 3-5 19,800 Eco-Stay Place 6,602.3 Industry 5 15,089 Research 6 Industry 3-4 5,576 3,000 Global Place Industry 3-3 2,210 Industry 4 Industry 3-2 7,482 Research 5 1,197.6 9,214 Research 1-1 Industry 3-1 18,149 Research 4 A Area 1,236.7 Business 1 Research 4 7,134 (restricted area) 11,228 6,164 Industry 11 Research 1 8,812 Medical Plcae 19,055 Research 8 9,842 Industry 2 Research 2-1 9,659 6,047 Research 1-2 3,956 Research 2 Downtown Place 3,195
Research 1-3 3,214 Wonju Enterprise City Wonju Tourism and Leisure
Business Overview Business Overview •Location : The whole areas of Jijeong-myeon·Hojeo-myeon, Wonju-si Location : The whole areas of East wonju station san 78-5 Ganhyeon-ri, Jijeong-myeon, Wonju-si •Development areas : 5,290,000m² • •Working expenses : 953.7 billion won •Development areas : 18,893,000m² •Types of attracted business : High-technology medical device, •Business contents : Development of the next generation new concept urban High-technology research, Pharmaceuticals, Bio, health care, etc. in which recuperation + medical treatment, residence+commerce, nature+leisure Factory and Knowledge industry center by 「Industrial Cluster Development functions are combined and Factory Establishment Act」 GoseongSokcho Port ※ Foreign investment 100% or joint development with korean business is possible GoseongSokcho Port DMZ International Passenger● Terminal DMZ International Passenger● Terminal Masterpiece self-contained city in the capital Sokcho Sokcho ●Yanggu Detailed businesses ●Yanggu area getting together with the capital Seoul Cheorwon ● ●Hwacheon Yangyang Cheorwon ● ●Hwacheon Yangyang ●Inje •Global area ●Inje •Industrial sites Chuncheon Yangyang Chuncheon Yangyang - Is circular complex surrounded by forest and broke out of the International Hotel, Global Culture Village, Global Food Town, UNESCO Korea, International km Airport km Airport existing hard checkerboard type industry facility km km 154 Opera House, Museum of World Custom, Masterpiece Hall, 182 - Placed on the side of the main entry road in order to access to 157 Gangneung 166 Gangneung Hongcheon Hongcheon Wonju downtown directly ● World Culture Experience Center, etc. Gimpo ● Seoul International Seoul •R&D sites 116 Donghae 112 Donghae km •Sports Leisure area Airport km - Intensively placed along the Arterial Road for connectivity 134km km 131 km 154km ●Hoengseong164 Business Training Town, Korean wave Auditorium, Community 151km km ●Hoengseong173 between research facilities Gimpo International Airport Donghae Port Donghae Port Wonju Airport International Passenger Terminal Wonju Airport International Passenger Terminal - Is within near local living bloc and employees’ commutes are easy. Incheon International Airport ●Jeongseon Center, Mountain village, Educational Facilities Incheon International Airport ●Jeongseon ●Pyeongchang ●Pyeongchang •Central commercial sites Wonju Samcheok● Wonju Samcheok● - Divided commercial area into central commercial area and •Eco-stay area ●Taebaek ●Taebaek distribution commercial area for traffic convenience ●Yeongwol Character land, Disney Land Korea, Hotel, Foreigner’s Casino ●Yeongwol - Comfortable shopping and convenience are maximized because the park was placed in the center of downtown. •Medical area •Residential sites Medical Complex, Chinese medicine (acupuncture) Complex, Wonju Enterprise City Wonju Tourism and Leisure - The placement of park and forest nearby for a comfortable residential environment Hot spring Complex - Guarantees safety not allowing main arterial road to pass through residential area •Business support center •Downtown area - Varius administrative Supports are possible through Business Incubator Center and Complex Entertainment Center, low and middle priced street Mall, Management Support facilities Culture Experience Center, China Village, Japan Village •Sports facilities - Presents constituents with well-being through sports park concept golf village - Uses clubhouse in the golf village as a multi-purpose space like research and seminar, etc. room ※ Information : T. +82-33-737-3981 Wonju City Hall Business Administration Division ※ Parcelling : T. +82-1577-5286 Wonju Company city limited ※ Information : T. +82-33-737-3921 Wonju City Hall Future Urban Development Division
14 SUCCESSfromGANGWON GANGWON PROVINCE 15 Donghae · Donghae · Gangneung Gangneung Bloc Bloc
Guide to moving-in •Rental fee : Its own factory - 26 won/m² per month, Standard factory - Heavy Industry building (1 building) 370 won/m² per month Light Industry building (2 building) 404 won/m² per month Complex building (3 building) 328 won/m² per month •The lease : long period 50 years, way of lease : can extend the contract if necessary •Qualifications for residence : - Domestic businesses : Manufacturing of which export is the main purpose, wholesale business of which export-and-import transaction is the main purpose, knowledge service industries (The percentage of export amount to gross sales should be more than 50% for more than a year continu- ously in the past three years from reporting date of residence permission) ※ As for knowledge service industries, the percentage should be more than 5% - Foreign investment businesses : Manufacturing or knowledge service industries (Foreign investment amount should be more than 100 milliom won and more than 10% of total investment amount) Incentives •Free of rental fee : rental fee of land that one of the following firms uses Donghae Free Trade ① Newly foreign invested firms that the foreign investment amount is more than 10 million USD Zone ② Newly foreign invested firms that the foreign investment amount is more than 1 million USD. The type of business should be high technology business or business involving high technology. •Tax reduction or/and exemption Division Subject Support contents Manufacturing Donghae Bukpyeong Industrial Complex sector with foreign - Corporate tax, income tax : 100% are exempt for 3 years, Tax reduc- investment amount are reduced by 50% for 2 years tion or/and more than 10million - Property tax : 100% exemption for 10 yesrs, 50% reduction exemption dollars for 5 years ( in case of logistics - Exemption of acquisition tax -more than 5 million)
Special case - Reserve customs duties on foreign goods of customs All moved-in - Exemption or return of customs duties on domestic cargo on duty business the port in which it is reported.
- Domestic cargo which is reported to carry-in. Zero tax rate All moved-in (tax will be imposed in case of reselling in the country) is applied to business - Foreign goods and service supplied or given among moved- VAT in businesses Donghae Free Trade Zone
16 SUCCESSfromGANGWON GANGWON PROVINCE 17 Donghae · Donghae · Gangneung Gangneung Bloc Bloc
Gangneung Science & Industry Complex International Hwajinpo RESOM Resort
Business Overview Business Overview •Location : The whole areas of 106 lots 84 et al. Chodo-ri, Hyeonnae-myeon, Goseong-gun 106 lots •Location : The whole areas of Daejeon-dong and Bangdong-ri, Sacheon-myeon, Gangneung-si •Development areas : 177,298m² •Development areas : 1,496,813m² •Working expenses : 420 billion won •Business contents : Condominium (9 buildings, 1,051 rooms), (industrial facilities sites 861,915, supporting facilities sites 43,458, Convention center, Spa center, additional facilities, etc. public facilities sites 591,440m²) •1st step membership sites •Working expenses : 154.849 billion won - Plan for rooms : 2 basements, 18 floors on the ground, 654 rooms scale, gross area 119,989m² GoseongSokcho Port - Additional facilities : interior golf course, Karaoke Room, billiard hall. DMZ ● Goseong Sokcho Port •Types of moved-in business : New material, marine life·natural substance, International Passenger Terminal table tennis room, etc. customer’s additional facilities on the first basement. DMZ International Passenger● Terminal - Banquet facilities : places ballroom, small & middle-scale seminar rooms, information·culture industry, etc. 56 60 Sokcho men and women saunas on the first floor Sokcho km km •Parcel price : 82,700won/m² ●Yanggu - Convenient facilities : places small & middle-scale banquet halls, custom’s ●Yanggu Cheorwon ● ●Hwacheon Yangyang sports facilities and kid’s club on the second floor. Cheorwon ● ●Hwacheon Yangyang Rental fee : 3,690won/m² per year, security deposit 7,390won/m² ●Inje • Yangyang - Sky spa(plan for sky spa) plan for sky spa on the 7th and 8th floors, viewing ●Inje Chuncheon 40 Chuncheon Yangyang ※Parcel price after 5 year lease 73,900won/m² km International the beach and the lake is possible International Airport •2nd step Owership sites Airport - Plan for rooms : 2 basements, 18 floors on the ground, 406 rooms scale, km Gangneung54 Gangneung ●Hongcheon gross area 66,054m² 214 ●Hongcheon 144 Infrastructures 239km km km - Plan for construction : creates spaces harmonious with surrounding topography km Seoul km Seoul km 117 Donghae through environment-friendly plan that is adaptive to nature km •Water : Industrial water 4,939 m³/day(waterworks), water for 269 km - Residents’ community facilities : places community spaces and draws harmony 234 154 Donghae living 965m³/day(waterworks) 278km 260 ●Hoengseong ●Hoengseong Gimpo International Airport Donghae Port among users Gimpo International Airport Donghae Port Wonju Airport International Passenger Terminal Wonju Airport International Passenger Terminal •Electric Power : 285,614MWH/year Incheon International Airport ●Jeongseon •Business operator : Resom Resort limited. Incheon International Airport ●Jeongseon ●Pyeongchang ●Pyeongchang •Waste : 4,500 tons/day Wonju Samcheok● - Permission for development is in progress and it is possible to Wonju Samcheok● begin construction as soon as the permission is given. ●Yeongwol●Taebaek ●Yeongwol●Taebaek - It can be jointly developed by you and Korean cooperate Locational conditions (Resom Resort limited) •The optimum natural environment necessary to new material, green · bio industry Gangneung Science & Industry Complex Investment conditions International Hwajinpo RESOM Resort •Low cost of land equivalent to a tenth of that of the capital area. •Location : This place is in eastnorthern Gangwon Province, borders •Seoul~Gangneung Line Double Track Subway was newly constructed world famous mountain, Mt. Geumgang, flanks on the East Sea and a (1 hour from the capital area) tourist spot in which the largest lagoon in Korea is. •Accessibility : It takes a little more than 2 hours from Seoul and a hour from •Securing highly educated manpower is easy because Wonju is an Yangyang International Airport. advanced educational city •Surrounding tourist spots : This place is famous for many landscape such as The East Sea’s lagoon, etc. including Mt. Geumgang, Mt. Seorak, Also, There are Hwajinpo Aquarium, Hwajinpo Castle (Kim Il-sung’s villa), the first President, Syngman Rhee’s villa, Unification Observatory, DMZ Museum, etc.
18 SUCCESSfromGANGWON GANGWON PROVINCE 19 Donghae · Donghae · Gangneung Gangneung Bloc Bloc
Jumunjin Beach Donghae Hansom Amusement Park
Business Overview Business Overview •Location : The whole areas of 78-47 Hyangho-ri, Jumunjin-eup, Gangneung-si •Location : The whole areas of 8-15 Cheongok-dong, Donghae-si •Development areas : 137,000m² •Development areas : 2.95km² •Investment size : 150 billion won •Investment size : 268.7 billion won •Facilities Introduced : Hotel, Condominium, Spa, Sales facilities •Facilities Introduced : Hotel, Condominium, Pension Complex, GoseongSokcho Port Shopping area facilities, etc. GoseongSokcho Port DMZ International Passenger● Terminal DMZ International Passenger● Terminal Locational conditions 44 104 Sokcho km Sokcho ●Yanggu Locational conditions ●Yanggu km •Suitable for creating 4 seasons seashore type tourist resort Cheorwon ● ●Hwacheon Yangyang Cheorwon ● ●Hwacheon Yangyang ●Inje ●Inje •Has 4 season recuperation type tourism resources such as Yangyang •Completed planning for creating a tourist spot (A=399,030m²) Chuncheon Yangyang Chuncheon 87 International •Possibility of running a private beach and providing International mountain and sea, river and valley, cave and hot spring, etc. Airport Airport km administrative support (permission, etc.). Gangneung •Donghae-si is the central city of overland·maritime traffic in Gangneung km 244 ●Hongcheon 68 Yeongdong area that has International sea trade port ●Hongcheon - Public Infrastructures (90% equipped) : Parking lot, Roads, km Seoul km Seoul 271km Water and sewage, Rest rooms, etc. 265km 121 (Donghae Port · Mukho Port), etc. 284km Donghae 292km Donghae ●Hoengseong 311km ●Hoengseong Gimpo International Airport Donghae Port Gimpo International Airport 149km Donghae Port Wonju Airport International Passenger Terminal Wonju Airport International Passenger Terminal Incheon International Airport ●Jeongseon Incheon International Airport ●Jeongseon The merits of the investment ●Pyeongchang The merits of the investment ●Pyeongchang Wonju Samcheok● Wonju Samcheok● The beautiful landscape attributable to The Circum-East Sea •Donghae·Mukho Port, the only international sea port in • ●Yeongwol●Taebaek ●Yeongwol●Taebaek Bloc, a central tourist spot in this sites, and accessibility to Gangwon Province is located in this sites and is a forward Jumunjin Port, the largest port in the eastern coast of Korea, floating base on northern sea route. designated EFEZ, Backup produce an good effect on tourism investment. city for 2018 Pyeongchang Winter Olympics, Investment •Because most of public infrastructures were already equipped Jumunjin Beach conditions of foreign invested businesses are good. Donghae Hansom Amusement Park (90%), the time and expenses necessary to establish those may be reduced.
20 SUCCESSfromGANGWON GANGWON PROVINCE 21 EFEZ EFEZ
The East sea Free Economic Zone The East sea Free Economic Zone
Donghae Bukpyeong ICI Zone Donghae Four seasons Luxury goods Marine Composite tourist
Business Overview Business Overview •Location : The whole areas of Bukpyeong-dong and Danbong-dong, Donghae-si •Location : The whole areas of Mangsang-dong, Donghae-si •Development areas : 4.61km² •Development areas : 1.82km² •Working expenses : 785.5 billion won •Working expenses : 266.6 billion won GoseongSokcho Port GoseongSokcho Port DMZ International Passenger● Terminal DMZ International Passenger● Terminal Main functions 105 97 Sokcho Sokcho km km Main functions •Function of the distribution·Business base for The Circum-East ●Yanggu ●Yanggu Cheorwon ● ●Hwacheon Yangyang •The Circum-East Sea Bloc Masterpiece Cheorwon ● ●Hwacheon Yangyang Sea Bloc, Function of exportation and importation ●Inje ●Inje Chuncheon Yangyang Ocean · Tourism · Leisure · Resort Complex Chuncheon Yangyang 88 International 76 International •The bases for High technology parts industry and Airport km Airport km •Four seasons tourist spot associated with Mt. ferroalloy industry Gangneung Gangneung ●Hongcheon Geumgang · Winter olympic ●Hongcheon Seoul Donghae Seoul 261km Donghae 275km km Plan for development 295km 280km 137 313km ●Hoengseong Plan for development 299km ●Hoengseong •International Business complex Gimpo International Airport Donghae Port Gimpo International Airport Donghae Port Wonju Airport 152kmInternational Passenger Terminal Creating the best Ocean · Tourism Complex using the excellent Wonju Airport International Passenger Terminal •High technology parts industry complex (automobile parts, Incheon International Airport ●Jeongseon • Incheon International Airport ●Jeongseon ●Pyeongchang ●Pyeongchang light weight sports leisure goods, robot material parts) Wonju Samcheok● natural environment. Wonju Samcheok● •Ferroalloy complex (ferromanganese, ferrosilicon, ferronickel, ●Yeongwol●Taebaek •Developing convergence complex in which leisure · culture, ●Yeongwol●Taebaek metal silicon, etc.) sports·residence · commercial facilities, etc. are in harmony. •Foreign business complex (carbon fiber, battery, machinery Donghae Four seasons Luxury goods manufacturing, etc.) Donghae Bukpyeong ICI Zone Investment conditions Marine Composite tourist •The tourism·recuperation hub for The Circum-East Sea Bloc Investment conditions •Establishing tourism infrastructure such as Pyeongchang Winter Olympics, •The distribution·Business hub for The Circum-East Sea Economic Bloc Yangyang Airport, etc. •The optimum place for foreign investment in The Eastern Coast Bloc •The optimum place for establishing tourism complex in which mountain, •The hub for High technology parts industry and ferroalloy industry by the sea, flatland are located use of regional resources
22 SUCCESSfromGANGWON GANGWON PROVINCE 23 EFEZ EFEZ
The East sea Free Economic Zone The East sea Free Economic Zone
Gangneung Okgye Industrial Complex for high-tech materials Gangneung Global Settlement · Education · Culture Area
Business Overview Business Overview •Location : The whole areas of Okgye-myeon, Gangneung-si •Location : The whole areas of Gujeong-myeon, Gangneung-si •Development areas : 0.71km² •Development areas : 1.11km² •Working expenses : 96.6 billion won •Working expenses : 155.1 billion won GoseongSokcho Port GoseongSokcho Port DMZ International Passenger● Terminal DMZ International Passenger● Terminal Sokcho Sokcho 68 Main functions 86 Main functions km ●Yanggu km ●Yanggu Cheorwon ● ●Hwacheon Yangyang Cheorwon ● ●Hwacheon Yangyang •Smelting facilities for high-tech material (magnesium, titanium, ●Inje •Taking on the functions of residence·education·culture of ●Inje Chuncheon Yangyang Chuncheon Yangyang zirconium) and facilities for substantiating dissolved lithium 70 International The Eastern Coast Bloc Free Economic Zone 51 International •Big scale material converging and manufacture facilities and km Airport km Airport Gangneung Gangneung research facilities : material parts, ultralight automobile parts, ●Hongcheon ●Hongcheon 20 43 medical material, ultralight medical device Seoul 254km km Plans for development Seoul 240km km km km •Foreign business complex : smelting zirconium, foreign business 276km 131 Donghae •Constructing global settlement·education · culture city 261km 113 Donghae 293km ●Hoengseong 275km ●Hoengseong associated with ultralight automobile parts Gimpo International Airport Donghae Port •Building functions of culture and settlement for foreign Gimpo International Airport Donghae Port Wonju Airport International Passenger Terminal Wonju Airport International Passenger Terminal Incheon International Airport ●Jeongseon Incheon International Airport ●Jeongseon ●Pyeongchang practician associated with Free Economic Zone ●Pyeongchang Samcheok Samcheok Wonju ● •Building location of green growth industry (medical material Wonju ● ●Taebaek ●Taebaek Investment conditions ●Yeongwol industry and service industry) ●Yeongwol •Establishing Okgye nonferrous metal cluster (2.1km²) •Anchoring businesses associated with nonferrous metal moved in Gangneung Okgye Industrial Complex Investment conditions Gangneung Global •Possession of the most mineral resources in the country for high-tech materials Settlement · Education · Culture Area •Possibility of cooperation with North Korea in resources exploitation •Lodgement area in which accessibility to the capital area is good •Medical costs are increasing because of ageing and improvement of the level of income. Also, Japanese and Chinese 'medical tourists' are increasing. •Traditional education·culture research city
24 SUCCESSfromGANGWON GANGWON PROVINCE 25 Alpensia Alpensia
Investment Immigration Program Investment Immigration Program
Alpensia Resort Investment Immigration Program Residence visa that is issued to foreign investor and his(her) family
kinds C-3 F-1 F-2 F-5 •Investment area : Alpensia Resort Daegwanryeong-myeon, Pyeongchang-gun (4.91km²) •Investment subjects : Purchase of a membership and acquisition of golf villa, condominium, and hotel Feature Common Visit and residence Residence Permanent resident •Permanent resident (F5) visa : If investment amount is more than 500 milliom won and the investment 3 years, Period The longest resident period a year 3 years (first application) Permanent is kept for 5 years, permanent residency of Republic of Korea will be given. : 90 days each time → 3 years (renewal) •Period of effectiveness : 2013. 05. 01 ~ 2018. 04. 30 Buying and keeping Paying or deferring Buying and keeping Keeping F-2 visa for more Require- recuperation & staying facility deposit and down recuperation & staying facility than 5 years, or an event ment that costs more than 500 payment that are more than ※Notification No. 2013-198 of the Ministry of Justice, Republic of Korea _ 2013. 05. 16 thousand USD or 500 million 100 thousand USD or that costs more than 500 million which makes him(her) dis- won (hotel, condominium) 100 million won won (hotel, condominium) qualified, should not happen
Investor, family accompanying the investor (parents, Investor, family accompanying Investor, family accompany- The process of acquisition of Alpensia and getting permanent residency Subjects spouse, sons and daughters, Investor the investor (spouse, unmarried ing the investor (spouse, un- spouse’s parents) sons and daughters) married sons and daughters)
Enquiring about Sales team or the After he (she) got permanent Alien Registration is not Does not reside, only when visa Alpensia goods parcelling agency Visa that allows small investor residency, he(she) can sell the Features necessary, can visit Korea all to reside is issued to him(her) he(she) can property and change ▼ the time visit Korea domestic address Site visit and determination Alpensia Resort of goods Letter of application, Letter of application, passport(copy), a certified ▼ passport(copy), a certified Letter of application, Letter of application, Docu- copy of real estate register, passport(copy), copy of real estate register, con- passport, certificate of Writing up a contract, payment Reporting acquisition of the Applying for Foreign ments for contract note, certificate of contract note, certificate of tract note, certificate of bu alien registration, a certified and applying for F1 visa land and paying acquisition Registration Number in submis- ying foreign exchange, sion buying foreign exchange, buying foreign exchange, certificate of family relations copy of real estate register, (Issuing period : a week) tax (4.6%) Pyeongchang County Office certificate of family relations, fee fee fee (in case of applying for ▼ kinsfolk’s visa), fee Registration of ownership transfer Pyeongchang County Office, registry office or Korean or issuing a membership card In case that F-2 visa or Support of the investor's If investment conditions have If he(she) cannot get Condominium Association Remarks permanent residency is not visits to Korea prior to the been kept for 5 years, he(she) permanent residency, ▼ necessary registration of real estate. can apply for permanent he(she) can extend the F-2 Applying for F2(Residence) visa Including spouse and unmarried residency visa. Immigration Office (Issuing period : a week) sons and daughters ※ Resident period : He(She) should submit foreigner registration and keep investment conditions absolutely regardless of the length of his (her) residence ▼ Applying for F5(Permanent resi- Keeping the investment amount Immigration Office dent) visa (Issuing period : a week) for 5 years ※ Investment Information : T. +82-33-339-4003 Gangwon Province Development Coporation
The Goods of Alpensia Resort Investment Immigration Program
Goods Minimum Investment Amont The feature of Goods Remarks
Estate 2.4 billion Separated luxury golf villa 102 pyeong(340m²)
Holiday Inn Resort 530 million 5-star first-class hotel Membership system
Holiday Inn Suite 600 million Condominium Membership system/Registration system
※ Membership system : We will return all your investment amount when the term of a contract runs out
26 SUCCESSfromGANGWON GANGWON PROVINCE 27 Special Special Zone Zone
2018 Pyeongchang Winter Olympics 2018 Pyeongchang Winter Olympics Special Zone Special Zone
Tourism industry project in Green Business · Ocean Resort Zone 2018 Pyeongchang Winter Olympics Special Zone
Overview Detail Location Green Business · Ocean Resort Zone(2.19km²) out of Gangneung culture Olympics General Special Zone(2.84km²) by Special Act on supporting 2018 Pyeongchang Winter Olympics Games Creating a green housing complex(29,680m²)
Creating a green tourism The merits of the investment experience complex(97,984m²) •The hub for The Circum-East Sea Economy Bloc (the Western parts of Japan, three Northeast Provinces of China, the Far East Russia, etc.) •This Zone forms an excellent natural landscape in Yongdong Area because it sits alongside the Eastern Coast of Korea. Creating a tourist accommodation village in •Making profit is possible through supplying excellent accommodations owing to rising of demand for foreign tourists when Pyeongchang Winter Olympics is held Gyongpo area(1,322,676m²) •Tax Reduction and Exemption, etc. various supports attributable to 2018 Pyeongchang Winter Olympics ‘Special Zone’ ❷ hotel premises(8,285m²) Main related indicators Green Business·Ocean Resort Zone(739,925m²) •Population Size of the Circum-East Sea Economy Bloc is 150 million, Economy size is GRDP 1,000 thousand billion USD - There are a billion persons in the area 2 hours away by plane from the location in which Winter Olympics will be held, and 3 billion persons 5 hours away by plane •2013 competitiveness of Korea in tourist industry : 20th in the world ranking (human·cultural·natural resources) - present foreign tourist status : (‘09)7,818 → (‘10)8,798 → (‘11)9,795 → (‘12)11,140 thousand - Except Hongkong and Macao, Korea is the first foreign destination of chinese people (The number of Chinese tourists will exceed 100 million in 2014 and exceed 400 million after 5 years) ◈ The number of tourist who visited the area in which Winter Olympics was held (2010) was about 3.157 million (about 35% of number of the whole Gangwon Province) Business Overview - The number of foreign tourist who visited Gangwon Province : (‘09)879 → (‘10)1,029 → (‘11)1,087 → (‘12)1,081 thousands •Location : The whole areas of Gyeongpo Beach, Anhyeon-dong, Gangneung-si - The number of domestic tourist who visited Gangwon Province : (‘10)8,610 → (‘11)9,264 → (‘12)10,181 thousands •Scale : 739,925m² •Financing Plan : Attracting private capital including SPC establishment Support for investor to the special zone ※ Some of these can change. •Working expenses :147.9 billion won •Business contents : Various facilities are available such as accommodations(youth hostel, villa complex), amusement facilities(ferris wheel, Division Supports Basis Target of Support water park), convention center, and observatory. Tax on project operators, and domestic and foreign companies •Land Price : 1~1.5 million won(per 3.3m²) the percentage of possession : National land 30%(city land 20%), private land 70% in special zone(Corporate Tax, Income Tax, Duty, Comprehen- •Land use plan : Natural environment conversation area → program management area(by early 2015) Tax and Charge sive Real Estate Holding Tax, VAT, Acquisition Tax, License Tax, Case-by-case Law article 61 Reduction Property Tax) Exemption approach ※ Amendment of the restriction law on national and local tax exceptions is pending in the legislature. Exemption for building Creating a Tourist Accommodation Village in Gyongpo Area A 50% raise of the building coverage ratio and floor area ratio Law article 51, coverage ratio and floor Commons applied by city and county ordinances on zoning Decree article 34 area ratio in special zone Business Overview Handling the agenda of permits and approvals by 36 laws The agenda of permits Project operators in •Location : 8,285m² areas of 2 lots 258-4 et al. Gangmun-dong, Gangneung-si including Grassland Act, at the time of approving a plan to Law article 57 and approvals the special zone •Scale : 31,025.60m²(three basement level/ six stories high/253 rooms) implement the special zone •Financing Plan : Attracting private capital of a single project operator Expropriation and Lands, objects, or rights can be expropriated and used in order Project operators in •Working expenses : 90 billion won(private capital) * In the middle of digging out alternative implementer after finishing and ceasing the Law article 58 Use of Land to implement the special-zone development work the special zone original permits and approvals •Business contents : Hotel, condominium, etc. Give the qualification for Give the qualification for stay to foreigners who make an Law article 78, Foreign investors •Land Price : About 25 billion won (estimate) stay to foreign investors investment in the special zone (F2) Decree article 43 •Land use plan : Natural environment conversation area → program management area(by early 2015) Expense support on the Preferred rentals or aid of Tourism Promotion and Development ※Enlargement of business area is possible through additional purchase of neighboring commercial area. Law Article 60 project operators in special-zone Fund for promoting and constructing tourism infrastructure in (paragraph 30) the special zone development work the special zone
28 SUCCESSfromGANGWON GANGWON PROVINCE 29 Reduction of rent of national property Tax Reduction and Investment Incentives Division Contents We give you various incentives such as tax reduction and subsidies for Legal basis Foreign Investment Promotion Act article 13, Enforcement Ordinance for Same Act article 19 employment and training. Property Subject Individual type of foreign investment zone, national industrial complex, national property in general industrial complex
Lease Within the range of 50 years (Renewal of lease is possible within the range of 50 years)
Standard Rental Fee More than 1/100 of land(property) price Tax Reduction Foreign Investment Promotion Act article 9, Tax Restriction and Exemption Control Act article 121 of 2 Reduction conditon When the ratio of foreign investment is more than 30% or the first stockholder is a foreigner
Reducing national tax for 7 years and local tax for 15 years as much as the ratio of foreign investment, from a tax year when the first income is generated • 100% of Reduction : Foreign investment in Individual type of foreign investment area, high technology · industrial support ser- after foreign investment company operates (Duty, VAT, and individual consumption tax have nothing to do with the ratio of foreign investment.) vices whose foreign investment is 1 million dollars or more, a business whose foreign investment is more than 5 million dollars, and which reside in special foreign investment area(complex type) Standard and the • 75% of Reduction : A manufacturing industry, whose foreign investment is more than 5 million dollars, a business contributing to Reduction period ratio of Reduction Reduction conditon SOC expansion, industrial restructuring, and local government's financial independence (in complex type foreign investment area) National Tax Local Tax • 50% of Reduction : Lands in national industrial complex, general industrial complex, urban high-tech industrial complex, and A. Industrial Support Service Business and High Technology Business agricultural industrial complex (Foreign-invested companies establishing plant equipments newly) High Technology Business, Industrial Support Service Business Total 7 years (5 • Technology which has great economical or technological ripple effects on national economy and is 100% for years: 100%, 2 essential in heightening industrial structure and enhancing industrial competitiveness 15 years Special Cases of Rent and Sale of National and Public Property yesrs: 50%) • Technology, introduced within three years. If not, extraordinary technology, whose economical effects or technical performances are better than already introduced ones. Division Supports • Technology whose process is mostly worked in Korea • Supporting to make purchase national · public properties in industrial complex at a level of construction cost National and public property in industrial • If a lump sum payment is difficult, payment in installments is allowed B. Individual Foreigner Investment Zone (FIZ) Enterprise (In case of establishing plant equipment newly) complex, agricultural industrial complex, - National Property : 20 yearly installments, 4% interest rate and knowledge industrial center Foreigner Invest- - Public Property : 20 yearly installments, 3% interest rate Division Scale of Employment ing Amoun
① Manufacturing, Computer Progamming, System Integra- 30 million dollars tion and Management, Data Processing · Hosting Services or more Supporting Subsidies of Employment and Training Standards of Financial Supports Basic ② Tourist Hotel Business, Water Tourist Hotel Business and Reduction Korean Traditional Hotel Business, Special Resort Busi- Division Employment Subsidy Training Subsidy 20 million dollars Conditions ness, General Resort Business and Amusement Business, Total 7 years (5 or more 100% for International Conference Facilities, Resort Condominium years: 100%, 2 A foreign investment company which has over 20 new regular A foreign investment company which has over 20 new regular 15 years Support Target Business, Youth Training Facilities yesrs: 50%) employees after its registration employees after its registration Standard of Paying subsidies to excessive number of people, in case a foreign Pay subsidies to all trainees, in case a foreign investment company ③ The Distribution industry, Infrastructure facilities 10 million dollars the Number of or more investment company hires over 20 new employees. hires and trains over 20 new employees. People 10 Masters or more Support Within the limit of a million won for each month and each per- Within the limit of a million won for each month and each person, 2 million dollars or ④ R&D business more who have three years Amount son, during six months during six months of research experience Payment For five years after a foreign investment company is registered For five years after a foreign investment company is registered ⑤ Foreigner investment companies which have at least 2 30 milion dollars Period members or more
10 million dollars Manufacturing Total 5years C. Enterprises in complex type or more 100% for Cash-Grant (3years: 100%, foreign investment zone 15 years 5 million dollars or 2years: 50%) Distribution more Division Support Content • Greenfield-type investment whose ratio of foreign investment is more than 30% (new or additional factories) Reduction Division Reduction Record Date Application Remarks Support Target • Industrial support services business, high technology business, components and material industry, large scale of employment business • R&D of industrial support services business/ high technology business (more than 10 regular researchers) Until the end date The fastest tax year among of tax year which • A · B : 100% for 5years, followings Support Scale More than certain percentage of foreign investment (up to 30% of FDI amount, up to 40% in case of R&D center) Na- an opening date of 50% for next 2years • The first income generation • Reducing as much as the ratio tional Corporate Tax business belongs Legal Use : Subsidies of employment and training, land purchase, rental fee, construction cost, installation cost of infrastructure, cost of • C : 100% for 3years, 50% • The tax year when the fifth year of foreigner investment among Provisions Tax to (in case of capital capital goods and research aids for next 2 years from an opening date of busi- incomes generated in subject to tax increase, 2 years ness belongs to reduction from its filing date) • Local tax should get an exemption • A · B · C : Reducing total An opening date of business decision before acquiring property. Others Local Acquisition Tax amount for 5 years since the (In case of acquiring before the Tax Property Tax opening date of business opening date: date of acquision) Division Support Content
Importing duties Request to the • It must be used directly in reduction • A · B : Exemption of Duty, Infrastructure • Road, water, gas, electricity, sewage treatment facilities in foreign investment zone on capital goods director of a business. Special Consumption Tax, Supports • Medical facilities, educational facilities, housing facilities in foreign investment zone Others Individual Con- - customhouse in • An import declaration should be and VAT sumption Tax case of an import completed within 5 years from a day • C : Exemption of Duty only Value Added Tax declaration of investment declaration ※ Tax reduction and investment incentives are decided by going through a prior consultation of the government departments and a vote of the Committee on Foreign Investment.
30 SUCCESSfromGANGWON GANGWON PROVINCE 31 Contact information of investment-related institute Gangwon Province, Business growth center in which the best support services and infrastructure were combined. SUCCESS Gangwon Province Global Business Department T. +82-33-249-2082 F. +82-33-249-4011 from The Eastern Coast Bloc Free Economic Zone T. +82-33-539-7654 F. +82-33-539-7680 Authority Chuncheon-si Corporate Division T. +82-33-250-3327 F. +82-33-250-4327
Wonju-si Corporate Support Division T. +82-33-737-2991 F. +82-33-737-4813 GANGWON
Gangneung-si Strategic Industry Division T. +82-33-640-5940 F. +82-33-640-4749 An Investment Guide to Gangwon Province Foreign Investment Promotion Support Donghae-si T. +82-33-530-2171 F. +82-33-530-2719 Division Taebaek-si Economic Policy Division T. +82-33-550-2348 F. +82-33-550-2932
Sokcho-si Sokcho Development Bureau T. +82-33-639-2778 F. +82-33-639-2543
Samcheok-si Regional Economy Division T. +82-33-570-3366 F. +82-33-570-3140
Hongcheon-gun Corporate Support Division T. +82-33-430-2820 F. +82-33-430-2809
Hoengseong-gun Corporate Attraction Support Division T. +82-33-340-2171 F. +82-33-340-2556
Yeongwol-gun Energy Strategic Business Bureau T. +82-33-370-2061 F. +82-33-370-2660
Pyeongchang-gun Economic Physical Education Division T. +82-33-330-2744 F. +82-33-330-2592
Jeongseon-gun Regional Economy Division T. +82-33-560-2428 F. +82-33-560-2594
Cheorwon-gun Corporate Support Division T. +82-33-450-4243 F. +82-33-456-5022
Hwacheon-gun Regional Economy Division T. +82-33-440-2353 F. +82-33-440-2594
Yanggu-gun Economic Tourism Division T. +82-33-480-2214 F. +82-33-480-2522
Inje-gun Regional Economy Division T. +82-33-460-2384 F. +82-33-460-2389
Goseong-gun New Growth Physical Education Division T. +82-33-680-3065 F. +82-33-680-3826
Yangyang-gun Future Strategy Division T. +82-33-670-2123 F. +82-33-670-2260
KOTRA General Consultation Center for Investment T. +82-2-3497-1741 F. +82-2-3497-1020
Gangwon Provincial Government Global Business Department Foreign Investment Promotion Team 1 Jungang-ro, Chuncheon-si, Gangwon-do 200-700 Republic of Korea Tel. +82-33-249-2082 Fax. +82-33-249-4011 http://provin.gangwon.kr(Gangwon Province), http://www.efez.go.kr(The Eastern Coast Bloc Free Economic Zone Authority)