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Incentives for domestic companies

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Companies relocating from the Seoul metropolitan area
: up to 7 billion won per company

  • Requirements for assistance: any company that has operated with thirty ongoing employees or more in the Seoul metropolitan area for three years or more and is to completely relocate its head office, plant or research facility to Chungcheongbuk-do and maintain thirty ongoing employees or more.
  • Eligibility for assistance
Locational assistance , Assistance for capital investment
Locational assistance

10%~45% of the purchase price or lease fee for a site up to five times as large as the pre-relocation site (10% for any area neighboring the Seoul metropolitan area, 35% for any general area, or 45% for any growth promotion area) excluding larger corporations

Assistance for capital investment
  • 3%~22% of the construction cost, the purchase cost of facilities and equipment, and the cost of infrastructure
    • For larger corporations: up to 7% (3% for any area neighboring the Seoul metropolitan area, 5% for any general area, or 7% for any growth promotion area)
    • For medium-sized corporations: up to 15% (5% for any area neighboring the Seoul metropolitan area, 7% for any general area, or 15% for any growth promotion area)
    • For SMEs: up to 20% (7% for any area neighboring the Seoul metropolitan area, 10% for any general area, or 20% for any growth promotion area)
      ※ Additional 2% assistance for any business activity that leads the industrial growth in or is specialized for Chungcheongbuk-do

Companies relocating from other cities or provinces
: up 5 billion won per company

  • Requirements for assistance: any company that has conducted business for three years or more in any other city (si) or province (do), excluding the Seoul metropolitan area, and employs 50 persons or more.
  • Eligibility for assistance
Locational assistance, Factory relocation, Research facility relocation, Assistance for capital investment
Locational assistance

Up to 200 million won but not exceeding 50% of the lease fee for three years where the company leases a building not exceeding 5% of the land purchase cost, construction cost and building acquisition cost

Factory relocation

Up to 5 billion won but not exceeding 5% of the land purchase (lease) cost and construction and installation costs in excess of 1 billion won

Research facility relocation

Up to 5 billion won but not exceeding 5% of the land purchase cost, construction cost, building acquisition cost, building lease cost, facilities and equipment cost, and relocation cost in excess of 1 billion won

Assistance for capital investment
  • 3%~22% of the construction cost, the purchase cost of facilities and equipment, and the cost of infrastructure
    • For larger corporations: up to 15% (3% for any area neighboring the Seoul metropolitan area, 5% for any general area, or 15% for any growth promotion area)
    • For medium-sized corporations: up to 17% (5% for any area neighboring the Seoul metropolitan area, 7% for any general area, or 17% for any growth promotion area)
    • For SMEs: up to 20% (7% for any area neighboring the Seoul metropolitan area, 10% for any general area, or 20% for any growth promotion area)

New or expanding company: up 7 billion won per company

  • Requirements for assistance: any company incorporated or expanded by any other company belonging to the regional leading industry or engaged in a business activity specialized for Chungcheongbuk-do that has conducted business with ten ongoing employees or more for three years or more within the country, where such other company contributes 1 billion won or more and creates new jobs in a number equal to or exceeding 10% of its workforce for the purpose of such incorporation or expansion, except where its existing location is closed or reduced
  • Support Subject
Eligibility for assistance
Eligibility for assistance
  • 3%~22% of the construction cost, the purchase cost of facilities and equipment, and the cost of infrastructure
    • For larger corporations: up to 7% (3% for any area neighboring the Seoul metropolitan area, 5% for any general area, or 7% for any growth promotion area)
    • For medium-sized corporations: up to 15% (5% for any area neighboring the Seoul metropolitan area, 7% for any general area, or 15% for any growth promotion area)
    • For SMEs: up to 20% (7% for any area neighboring the Seoul metropolitan area, 10% for any general area, or 20% for any growth promotion area)

Companies returning to Korea: up 7 billion won per company

  • Requirements for assistance: any company that returns to Korea and creates 30 new jobs or more upon returning, where the domestic and overseas locations share the same shareholders and business activities, and the overseas location has maintained thirty or more ongoing employees for the last two years
  • Eligibility for assistance: same as for companies relocating from the Seoul metropolitan area, but up to 500 million won per company in case of locational assistance
Regional leading industry, Specialized business activities
Regional leading industry

Clinical and pharmaceutical, biological, and "New IT"

Specialized business activities
  • Processing and preservation of fruits and vegetables (1030)
  • Manufacturing of aircraft, spacecraft and related equipment (3131)
  • Manufacturing of detergents, cosmetics and enamel glazes (2043)
  • Manufacturing of other medical devices (2719)

Companies expanding plants within the province
: up 5 billion won per company

  • Requirements for assistance: any company that is operating plants for three years or more and employing 50 persons or more within the province
  • Eligibility for assistance
Location and capital investment
Location and capital investment

Up to 5% of the land purchase (lease) cost and construction and installation costs in excess of 1 billion won