 Investment Conditions
Gwangyang, the optimum place for investment in the 21st century, has POSCO Gwangyang, international port and container quay as the hub of the Northeast Asia and is also designated as the Free Economic Zone on Oct. 30, 2004 in order to make optimal investment environment for multinational enterprise management and convenient living conditions to foreigners. Therefore, the best enterprise management can be achieved through saving of logistics cost and environment with international competitiveness Gwangyang provides. |
| |
| |
| General Conditions |
| |
 |
o POSCO Gwangyang
¤ıArea : 1941.87 m2 (including the sea level)
¤ıEmployees : 6,300
¤ıProduction Capacity : 17,500,000 tons
¤ıProduction Items : Hot-rolled and cold-rolled coil
¤ıProduction Items : Steel plate for auto parts (TWB, HF, HPF) |
|
| |
 |
o Container Quay at Gwangyang Port
¤ıDevelopment Project : 33 berths, 9,330,000 TEU (until 2011)
¤ıNatural Environment : International port ranked the 10th in the world
¤ıNatural Environment : Best safe port with natural breakwater of islands
and
mountains
¤ıNatural Environment : Shipping is possible all the year round owing to
good
weather conditions |
|
| |
 |
o Gwangyang Complex Logistics and Distribution Complex
¤ıLocation : around Sepung-ri, Gwangyang-eup,
Gwangyang-si
¤ıArea : 871,860 m2 (2.4 million pyeong will be arranged in
future)
¤ıItems to be attracted : Cargo Terminal, Warehouse, Mart, Convention
Center,
Telecommunication Facilities, Maintenance
Facilities, Gas Station |
|
| |
| |
| o Gwangyang Industrial Complex |
| |
Taein Industrial Complex
- Area : 1,727,207.5 m2
- No. of Enterprises : 41 (3,624 persons)
- Major Items : Non-metal¤ıAssembled Metals, Primary Metal,
Machine Manufacturing |
| |
Myungdang/Jangnae Industrial (National Lease) Industrial Complex
- Location : around Gwangyang National Industrial Complex at
Taein-dong, Gwangyang-si
- Area : 1,420,075 m2
¤ı Myungdang District : 1,010,565 m2
¤ıJangnae District : 409,510 m2
- Period of Business : 2005 - 2006
- Investment Items : Steel and related industries, electricity, port related
industries
- Investment Conditions
¤ıOptimum place to locate industrial facilities related to steel because it is
located near POSCO Gwangyang, the
best enterprise in the world
¤ıBest place to save logistics expenses because it is located near Gwangyang
container quay, national lease
industrial complex in construction (33,025 m2)
and designated as investment promotion zone for domestic
enterprises |
| |
 |
Chonam Industrial Complex
- Area : 409,510 m2
- No. of Enterprises : 29 (588 persons)
- Major Items : Assembled metals, primary metals, recycled
processing,
compounds |
|
| |
| |
Singeum Industrial Complex
- Area : 132,100 m2
- No. of Enterprises : 1,941.87 m2
- Major Items : Assembled metals, machinery equipments,
electrical machines |
| |
| |
Investment Incentives
¤ıAcquisition tax and registration tax, 100% exempted, property tax 100%
exempted for 5 years
¤ıFarmland construction cost exempted
¤ıSecondary preservation of loan for operating fund for small and medium
enterprises within 2 hundred million won
¤ıInauguration and competitiveness promotion fund within 1.3 billion won
¤ı2% of installation money exceeding 2 billion won and transfer subsidy
(factory, head office)
¤ıOne-stop service of approval and permission from investment counseling to
completing business |
| |
| |
Free Economic Zone Development Project at Gwangyang Bay Circle
- Location : around Gwangyang, Yeosu and Suncheon in
Jeonnam, Hadong-gun in Gyeongnam
- Area : 90,257,325 m2
- Purpose of Business : To establish the hub of logistics, new industry and tourism industry in Northeast Asia
- Tax Benefits
¤ı100% cut for income tax, corporation tax and local tax for 3 years, 50% cutfor 2 years
¤ıImport customs duties of capital goods exempted for 3 years
¤ıAcquisition tax, registration tax, property tax, composite land tax exempted
for 3 years, 50% cut for
subsequently 2 years
-
Fund Support
¤ıRent cut for site construction to be leased to foreign enterprises and land
¤ıCapital required for installing foreigners' convenience facilities supported
-
Support for Living Environment
¤ıSpecial supply of housing for workers of foreign invested enterprises
¤ıAllowance of establishing foreign educational agencies by foreign school
corporations and of remitting
money overseas
-
Other Supports
¤ıApplication of single tariff of 17% for foreigners' earned income
¤ıAllowance of direct dollar use within 10,000 dollars
¤ıApplication of no labor, no wage principle
|
| |
| |
Logistics Infrastructure
o Basic Road Networks
- Gwangyang-Jeonju Expressway Construction (117.5 km, 1998-2007)
- Gwangyang-Mokpo Expressway Construction (100.3 km, 1999-2007)
- Gwangyang-Hadong Expressway Construction (7.3 km, 2001-2007)
o Railroads
- Jeolla Line Double-Track Electric Railway Construction (195km, 2001-2011)
- Gyeongjeon Line Double-Track Construction (10.8km, 2001-2006)
- Gwangyang-Capital Circle Connection Railroad Opening (433km, 2011)
o Airport
- Yeosu Airport - 30 min. - Seoul, Jeju (68 times a week)
- Sacheon Airport - 40 min. - Seoul, Jeju (63 times a week) |
| |
| |
Administrative Services
- Offering Early Investment Counseling and Information
- Quick Disposal and Agency of Approval and Permission Procedures for Building Factory
- Solving Problems from Management
- Offering One-Stop Service from Investment Counseling to Operating Factory |
