CHUNGCHEONGBUK-DO < invest Korea

(JECHEON=NEWSIS) Companies that invest a large amount in Jecheon will be able to rent the land for free and receive subsidies from the City.

Jecheon pre-announced the revised ordinance for investment promotion in Jecheon City.

The revised ordinance allows investors or corporations that have over 300 regular workers and investment of more than KRW 100 billion to rent land for free with prior consent from the City Council.

The City provides subsidies to the above mentioned companies and investors to supply the facility land at the construction cost with prior consent from the City Council.

For businesses that are recognized to be effective for the regional economy including medical, pharmaceutical, food and automobile industries, the City will support up to KRW 1 billion, within 30 percent of the investment plan of the business project.

"We have prepared groundbreaking incentives to attract large-scale investment. Please submit any suggestion regarding the revised ordinance to Investment Promotion Division by October 30," said a Jecheon official.

sklee@newsis.com