Investment Promotion Zones
An area in Jeonnam-Gwangju Special Metropolitan City may be designated as an Investment Promotion Zone when an investment of at least KRW 500 million is made in cultural industries or an investment of at least KRW 3 billion is made in tourism industries. Businesses that relocate to or are newly established within an Investment Promotion Zone may also receive various benefits, including tax exemptions and reductions.

Current Investment Promotion Zone Designations(Three Zones)

National Asian Culture Center(ACC) Zone
  • Location : 38 Munhwajeondang-ro and surrounding area, Dong-gu, Jeonnam-Gwangju Special Metropolitan City(around the National Asian Culture Center)
  • Area : 1,947,245m²
  • Key Sectors : Exhibitions and performances developed in connection with the National Asian Culture Center, audiovisual content, tourist accommodation, and related businesses
CGI Center Zone
  • Location : 61 Songam-ro and surrounding area, Nam-gu, Jeonnam-Gwangju Special Metropolitan City(around the CGI Center)
  • Area : 37,100m²
  • Key Sectors : VR, broadcasting, advanced audiovisual content, VFX, and related businesses
Akimbo Hotel(Ramada Chungjang)
  • Location : 369 Cheonbyeon-u-ro, Dong-gu, Jeonnam-Gwangju Special Metropolitan City
  • Area : 9,864m²
  • Key Sector : Tourist accommodation

Industries Eligible for Investment Promotion Zone Designation

Cultural industries, tourist accommodation businesses, tourist-use facility businesses, international conference businesses, amusement facility businesses, tourism convenience facility businesses, youth training facilities, training institutes, and other eligible sectors Investment Targets : Priority investment in companies relocating to Investment Promotion Zones and projects undertaken by local companies

Investment Promotion Zone Incentives

Tax Incentives
  • Corporate Income Tax and Individual Income Tax
    • Corporate income tax exemption for the first three years, followed by a 50% reduction for the next two years
    • Exemption from individual income tax and local income tax for the first three years, followed by a 50% reduction for the next two years
  • Acquisition tax exemption and property tax reductions and deductions
Support and Benefits
Type of Support Scope of Support
Benefits for State- and Publicly Owned Property
  • State and public property may be made available to resident companies for use and profit, lease, or purchase. The lease term may be up to 50 years, with an interest rate of up to 3%–5%.
  • Payment of the purchase price may be deferred for up to one year or made in installments over a period of up to 20 years, with an interest rate of 3% to 5%.
  • Permanent facilities, including factories, may be constructed.
  • Rent reductions may be granted, with a lease rate of up to 10/1,000 and a reduction rate of 25%.
Financial support National Government Financial Support
  • Loans for the purchase of land to be leased, reductions in land rent, and funding required for development projects and related purposes
Local Government Financial Support
  • Location Subsidy : Up to 20% of the land purchase price, or up to 45% for companies located in the Seoul Capital Area
  • Relocation Subsidy : When the number of employees actually working at the relocated business site exceeds 10, up to KRW 1 million may be provided for each additional employee, subject to a maximum of KRW 500 million per company.
  • Facility investment subsidy : up to 17% of the investment amount, excluding land purchase costs
  • Employment Subsidy : For each newly hired regular employee in excess of 10, up to KRW 1 million per month for a maximum of 12 months
  • Education and Training Subsidy : When more than 10 regular employees are newly hired, up to KRW 1 million per employee for a period of up to six months
  • Consulting Subsidy : Up to 5% of the total investment amount, subject to a maximum of KRW 100 million per company