Documents: One copy of application (preset form), one copy of business plan, two copies of foreign investment report (Foreign investment Report in accordance with the Foreign Investment Promotion Act)

For foreign investment, priority is given unless it is in investment-restricted industries.

Foreign capital is introduced and an incorporated company is established in accordance with the Commercial Act. (only applicable to a newly-established company)

A candidate must conclude lease agreements for a factory site or standardized factory building with the Administrative Agency within 60 days from the permission to move in having been granted.

A tenant must pay the security deposit at the time of concluding the lease agreement. The deposit will be returned when the agreement is terminated.

- Deposit for standardized factory building: Monthly rent X 6 months

- Factory site: Monthly land rent x 6 months

When the foreign investment is completed, a tenant must register as a foreign invested company within 30 days of the completion documents having been finalized

- One copy of Foreign-invested company registration application form

- One copy of foreign currency purchase certificate (deposit or withdrawal)

- One copy of Corporation Registration Certificate (Business Registration Certificate for self-employed business owners)

For a foreign investment in another area of Korea, tax incentives are given only when it is a high technology company or the size of investment meets the specified criteria. However, for foreign investment in a free trade zone, tax incentives are given to all regardless of the business type or investment size. (However, native companies will be given no tax incentives.)

Application deadline for tax incentives

- New foreign investment: the last day of the taxable year to which the first day of business belongs

- Additional investment: Within 2 years from the reporting of additional investment

Documents: 3 copies of Application for tax incentives (form by the Restriction of Special Taxation Act), 1 copy of Move-in Permission to the Free Trade Zone

Decision and notification: Within 20 days