Property to be Leased
<Property to be Leased>
| Location |
Phase 1 Hinterland near Singyeong-ri, Poseung-eup, Pyeongtaek City, Gyeonggi Province |
| Area |
997,835m2of the Phase 1 Hinterland distribution complex |
Lease Property Map
Leasing Conditions: a long-term notification-based lease, where the tenant companies provide their own facilities and then operate
※ The facilities to belong to the government or be removed to restore the original condition of the land upon expiration of the lease period.
Lease Period: 30 years (may be extended up to 20 years)
※ Renewal allowed every 3 years.
Leasing Fees
Leasing Fees
| Category |
Conditions |
Fees |
Period Applied |
| Basic leasing fee
|
Must be a company selected to operate on-site
|
700 KRW/㎡ (monthly)
(8,400 KRW yearly)
|
3 years |
| Premium fee
|
A foreign-invested company operating in distribution and
logistics as per the Free Trade Zone Act
|
500 KRW/㎡ (monthly)
(6,000 KRW yearly)
|
| Fee based on declared
value
|
- A company operating on-site that fail to perform their
initial business objectives
- A local company not benefitting from the basic or
premium leasing fee schedules
|
Declared value × 50/1,000 (National Properties Act) |
| Differential application of premium fee |
Discount
|
A foreign company with investment amounting to USD 5 million or above
|
50% for 5 years |
for each period |
| Exempt
|
A foreign company with investment amounting to USD 10 million or above
|
Exempt for 5 years |
| A foreign company with investment amounting to USD 15 million or above
|
Exempt for 7 years |
| A foreign company with investment amounting to USD 30 million or above
|
Exempt for 10 years |
| A foreign company with investment amounting to USD
50 million or above
|
Exempt for 15 years |
Project Implementation Deposit: Sum amount of 5% of the total project costs
Lease Hold Deposit: leased land area (㎡) × 5,000 KRW
Incentives for Foreign-Invested Firms
- - Exemption or refund of customs tariffs, etc.: Tariffs, transportation tax, VAT, state tax, etc. exempt as per Article 45 of the Free Trade Zone Act
- - Beneficiary: Foreign-invested firms operating in a free trade zone, i.e., manufacturer with investment amounting to USD 10 million or above, or distribution & logistics firm with investment of USD 5 million or above, to enjoy breaks from corporate tax, income tax, acquisition tax, registration tax, and property tax
<Exemption Ratio >
Exemption Ratio
| Type of Tax |
Period and Ratio |
Related Laws & Regulations |
| National Tax |
corporate tax, income tax |
100% for the 1st 3 years followed by 50% for the next 2 years |
Article 121.2, Restriction of Special Taxation Act |
| Local Tax |
acquisition tax, registration tax |
100% for the 1st 15 years |
Gyeonggi Province ordinance |
| property tax |
100% for the 1st 15 years |
Pyeongtaek City ordinance |
※ The ratios to be determined by the amounts of foreign investment.
A business defined as per Article 10.1.1 or Article 10.1.3 of the Act on Designation and Management of Free Trade Zones and Article 7.1 or Article 7.4 of the Enforcement Decree of the Act on Designation and Management of Free Trade Zones