Busan is good

• Foreign Investment Report

  KOTRA or foreign exchange banks

  Immediate

• Remittance of Investment Funds

  Foreign exchange banks or carried in through customs

  2–3 days

• Registration of Corporate Establishment

  Court Registry Office

  2–3 days

• Permits & Licenses

  If required, relevant authorities

  Varies by permits / licenses

• Corporate Establishment Report & Business Registration

  Tax Office

  4–5 days

• Opening of Corporate Bank Account

  Foreign exchange banks

  Immediate

• Registration as a Foreign-Invested Company

  Initial reporting institution

  1 day

Eligibility for Foreign-Invested Company Registration: For foreign direct investment (FDI) of KRW 100 million or more with foreign ownership of at least 10%

Foreign-invested companies with 30% or more foreign ownership

New growth engine industries, advanced technology- and high-tech product-related industries, materials, parts, and equipment industries, businesses meeting minimum requirements of job creation by industry, and Busan’s strategic industries

• 1Tax Incentives

  • Opportunity Development Special Zones (e.g., Mieum Foreign Investment Zone): Acquisition tax and property tax reductions

    • (Startups or relocation from Seoul metropolitan area) 100% acquisition tax exemption, 100% property tax exemption for 5 years, and 50% reduction for the following 5 years
    • (New or expanded factories) 75% acquisition tax reduction, 75% property tax reduction for 5 years

  • Exemptions on customs duties, individual consumption tax, and value-added tax for capital goods: 100% for 7 years

• 2Location Support

  • Reduced lease rates in foreign investment zones: 1% of official land value, up to 50 years
    ※For investments exceeding industry-specific minimum foreign investment amounts: 75–100% lease reduction

• 3Financial Support

  Investment Promotion Fund (Busan Metropolitan City)

  • Location Subsidy

    • Up to 30% of land purchase cost
    • Up to 50% of building lease cost

  • Facility Investment Subsidy

    • Up to 50% of total facility investment

  • Consulting Costs

    • Up to KRW 20 million

  • Employment Subsidy

    • Up to KRW 1 million per month per new employee exceeding 20

  • Training Subsidy

    • Up to KRW 500,000 per month per trainee among new employees exceeding 20

  Cash Support (Ministry of Trade, Industry and Resource)

  • Eligible expenses

    • Purchase or lease of land/buildings, construction costs, capital and research equipment, infrastructure installation, employment subsidies, and training subsidies

  • Support Amount

    • Determined through negotiation and review by the Foreign Investment Committee at the Ministry of Trade, Industry and Resource

    ※ Note:

    Total financial support is limited to 50% of the company’s total investment, and the Busan Investment Promotion Fund, MOTIR cash support, and foreign investment zone lease reductions are combined when calculating the limit.

Foreign Investment Attraction Team, Investment Attraction Division, Digital Economy Office