GWANGJU < invest Korea

Article 1 (Purpose)

This Ordinance shall state measures to develop regional industry foundation and revitalize the economy of Gwangju Metropolitan City (hereinafter referred to as "Gwangju") by effectively promoting domestic and foreign investment and supporting corporate investment with regard to relevant issues prescribed in the Special Act on Balanced National Development and the Foreign Investment Promotion Act. <Amended on May 15, 2012, November 10, 2023.>

Article 2 (Definition)

The terms used in this Ordinance shall be defined as follows: <Amended on May 15, 2012>

1. 1. "Foreigner" shall refer to foreign nationals defined in Article 2.1.1 of the Foreign Investment Promotion Act (hereinafter referred to as the "Act"). <Amended on May 15, 2012>
2. 2."Foreign invested-company" shall denote an enterprise as stipulated in Article 2.1.5. of the Act. <Amended on May 15, 2012>
3. 3. "Foreign invested-company" shall denote an enterprise as stipulated in Article 2.1.5. of the Act. <Amended on May 15, 2012>
4. 4. "Factory facility" shall refer to as a factory, headquarters, research center, and worksite of the business service industry (hereinafter referred to as "business service") as prescribed in the provisions of Article 2.2 of the Enforcement Ordinance on Industrial Cluster and Factory Establishment..<Established on May 3, 2010 ><Amended on July 6, 2020.>
5. 5."Factory facility" shall refer to as a factory, headquarters, research center, and worksite of the business service industry (hereinafter referred to as "business service") as prescribed in the provisions of Article 2.2 of the Enforcement Ordinance on Industrial Cluster and Factory Establishment. <Amended on May 3, 2010 and May 15, 2012>
6. 6. “Reshoring companies” shall refer to companies that receive government financial support in accordance with “the government financial support to local governments for attracting investors”(hereafter “the government financial support”) notified by the Minister of Trade, Industry and Energy. <Newly established on May 3, 2010> <Amended on May 15, 2012 and August 1, 2013>
7. 7. "Industrial complex" shall refer to as an industrial complex described in Article 2.8 of the Industrial Sites and Development Act.<Amended on May 3, 2010, May 15, 2012 and June 30, 2014>
8. 8. "Headquarters" shall refer to as a worksite located at the headquarters or main office specified in the registration of incorporation. <Amended on May 3, 2010 and May 15, 2012>
9. 9. "Research center" shall refer to a research center described in Article 2 of the Industrial Technology Innovation Promotion Act <Amended on May 3, 2010, May 15, 2012 and August 1, 2013, July 6, 2020 >
10. 10. “Number of full time employees” shall refer to the average number of wage earners who have signed a contract less than a year in accordance with Article 2 of the Act on the Protection, etc. of Fixed-Term and Part-Time Workers and who correspond to the below workers excluding short-time workers defined under Article 2 of Labor Standards Act. Workers shall also indicate the dispatched workers who can be proved with evidence materials, such as the workers dispatch contract under Article 20 of the Protection, etc. of Dispatched Workers Act and who are related to the institutions that receive government financial support over the last six months. However, the corporate investors shall meet the requirements set by the government to receive government financial support <Amended on May 15, 2012 and August 1, 2013, November 1, 2019.>
    1. a. Deleted < November 1, 2019.>
    2. b. Deleted <November 1, 2019>
    3. c. Deleted <November 1, 2019>
11. 11. "Initial date of business" shall denote the date that begins producing manufacturing goods (or the date of business registration) in the manufacturing industry, the date that begins collecting and mining of minerals in the mining industry and the date that begins supplying goods or services (or the date of business registration) in other industries following Article 6 of the Enforcement Decree of Value-Added Tax Act. However, if “the existing tenants” hire new full time employees that mine the amount of subsidy, the date of hiring shall be reckoned as the initial date of business in the call center and telemarketing industries. <Amended on May 3, 2010, May 13, 2011 and June 30, 2014 >
12. 12. “Newly built” shall refer to buildings that have been established for a new business or have changed the use of the existing building to meet the new business. <;Newly established on May 13, 2011 ><Amended on May 15, 2012>
13. 13. “Enlargement” shall mean new business facilities that have been installed by enlarging the place of business. <Newly established on May 13, 2011><Amended on May 15, 2012>
14. 14. “A large corporation”shall indicate companies excluding small companies defined under Article 2.1 of the Framework Act on Small and Medium Enterprises and medium-sized companies defined under Article 10.2 of the Industrial Development Act .<Newly established on August 1, 2013><Amended on July 6, 2020>
15. 15. “The date of subsidy application” shall refer to the date when an application for subsidy has been received from an investing company.< Newly established on July 6, 2020.>

Article 3 Deleted <on May 15, 2012>

Article 4 (Establishment of Investment Promotion Committee)

1. ① The Gwangju Metropolitan City Investment Promotion Committee (hereinafter referred to as "Investment Promotion Committee") shall be established to discuss, advise, and deliberate on important issues necessary for promotion of domestic and foreign investment.
2. ② Investment Promotion Committee shall engage in the following activities:
   1. 1. Consulting and advice on investment promotion policies with regard to selection of business sectors for investment promotion, promotion strategies, etc.
   2. 2. Domestic and foreign investment promotion activities
   3. 3. Resolution of grievances by corporate investors
   4. 4. Deliberation on the provision of subsidies or grants to corporate investors
   5. 5. Other issues deemed necessary for investment promotion by the Mayor
3. ③ Notwithstanding Article 2.4 of the Act, the deliberation shall be replaced by that of relevant committee if the national financial fund is supported according to the national financial fund support standards. <Newly established on May 15, 2012 >< Amended on July 6, 2020, November 10, 2023>

Article 5 (Organization of Investment Promotion Committee, etc.)

1. ① The Investment Promotion Committee shall consist of 30 or fewer members including the two Chiarpersons and one Deputy Chairperson < Amended on July 6, 2020>
2. ② One of the Co-Chairs shall be taken by the Mayor, and the other shall be selected among the members, while Deputy Chairperson shall be taken by the Deputy Mayor of Gwangju Metropolitan Government, who supervises investment attraction work. < Amended on January 1, 2009, July 6, 2020, November 10, 2023 >
3. ③ Deputy Mayor and Director in charge of the city's investment attraction shall become ex officio councilors, and a councilor nominated on recommendation shall be appointed among each of the following by Mayor. However, the number of a certain gender of the councilors nominated on recommendation shall not exceed 60 percent of the total council members.< Newly established on January 1, 2017.><Amended on January 1, 2010, August 5, 2010, May 15, 2012, January 1, 2017, July 24, 2018, July 6, 2020, November 10, 2023>
   1. 1. A lawmaker recommended by the Gwangju Metropolitan City Council < Amended on May 13, 2011>
   2. 2. Executives of an investment promotion agency or investment promotion organization<Amended on May 15, 2012>
   3. 3. Entrepreneurs, lawyers, CPAs, or professors including full-time lecturers in the field of investment promotion
   4. 4. Others who possess professional knowledge and experiences concerning investment attraction < Amended on November 10, 2023>
4. ④The term of an ex officio member of the Committee shall indicate his or her time in office, and a member nominated on recommendation shall hold the post for two years in office and be allowed for re-nomination.
5. ⑤ The Committeel may employ a director to govern general affairs, which shall be taken by the head of Investment Promition Division <Amended on August 5, 2010, May 15, 2012, September 1, 2014, July 24, 2018, January 1, 2020, November 4, 2022.>

Article 6 (Meeting)

1. ① The Investment Promotion Committee shall be convened whenever recognized as necessary by the Mayor or at the request of the members.
2. ② A quorum for a meeting of the Committee shall be the presence of a majority of all members and all resolutions shall be adopted by the affirmative vote of a majority of the members present.

Article 7 (Allowance and Reimbursement of Expenses, etc.)

1. ① An appointed member on the Investment Promotion Committee by recommendation may receive allowances within the budget as follows.< Amended on May 15, 2012>
   1. 1. Allowance for attendance and activities in the Investment Promotion Committee in accordance with Ordinance on Organization and Operation of Committees in Gwangju Metropolitan City
   2. 2. Expenses for investment promotion activities including research on improving investment climate, collection and analysis of invested companies' data at the request of the Mayor.< Amended on May 15, 2012>
2. ② The provision of Paragraph ① shall apply to issues associated with allowances and expenses described in Article 8 to Article 10.< Amended on May 15, 2012>

Article 8 (Advisory Panel for Investment Promotion)

The Mayor may organize and manage the Gwangju Metropolitan City Investment Promotion Advisory Panel (hereinafter referred to as "Advisory Panel") to seek expertise and information to facilitate investment promotion and to promote investment activities in the region.

Article 9 (Honorary Overseas Investment Promotion Consultant)

The Mayor may nominate and appoint overseas investment promotion consultant (hereinafter referred to as "Overseas Consultant" in major cities around the world to collect and exchange data on foreign companies and read their business trend.< Amended on May 15, 2012>

Article 10 (Organization of Working Level Consultative Council with Relevant Parties)

The Mayor may organize and manage Gwangju Metropolitan City Working Level Investment Promotion Consultative Council(hereinafter referred to as "Working Level Consultant Council") to actively promote investment in organically close cooperation with relevant parties including companies, economic organizations, academia, research institutes, etc. <Amended on May 15, 2012>

Article 11 (Request for Civil Expert)

1. ① The Mayor may request the dispatch of relevant experts from private companies or investment promotion agencies or groups for effective investment promotion.
2. ② The municipal government may grant the use of city government properties (including accommodations) or provide financial support for investment promotion within the budget to experts dispatched in compliance with Paragraph ①.<Amended on May 15, 2012>

Article 12 (Designation of Foreign Investment Promotion Office)

Gwangju City may establish a Foreign Investment Promotion Office, in accordance with Article 16 of the Act and Article 22 of the Enforcement Decree of the Act, for which the head of Investment Promotion Division shall govern the related affairs <Amended on August 5, 2010, May 15, 2012, September 1, 2014, 2014, July 24, 2018, January 1, 2020, November 10, 2023>

Article 13 (Operation of Investor Support Center)

1. ① The Gwangju Metropolitan City Government may establish and operate the Regional Investment Support Center (hereinafter referred to as "Investment Support Center") within the Seoul Metropolitan Area to step up cooperation with central government departments and Investor Support Center of Korea Trade-Investment Promotion Agency (KISC) and effective investment promotion towards domestic and foreign corporate investors.
2. ② The Mayor may hire outside experts on investment promotion and have them work at the Investment Support Center, if necessary.

Article 14 (Support for Corporate Investors)

The Mayor may offer administrative and financial support to corporate investors deemed to be contributing to local economic development on the following items:.

1. 1. Issues associated with relocation and establishment of corporate investors< Amended on May 13, 2011>
2. 2. Issues on labor welfare for employees of invested companies, e.g. supply of apartment residences
3. 3. Issues on education of foreign employees and their children
4. 4. Issues on promoting export and improving productivity of corporate investors
5. 5. Issues on building infrastructure as stipulated in the Act on Private Investment in Social Overhead Capital
6. 6. Other issues deemed necessary for investment promotion by the Mayor

Article 15 (Exemption from Local Tax)

1. ① Local taxes on properties that a foreign-invested company acquires or possesses to operate the business may be cut or reduced in accordance with the provisions of the Restriction of Special Taxation Act, Gwangju Metropolitan City Ordinance on Municipal Tax Exemption Act, or County Tax Exemption Act of each self-governing county.<Amended on May 15, 2012>
2. ② Local taxes levied on domestic companies that have made investment in Gwangju may be cut or reduced in accordance with the provisions of the Local Tax Act, Restriction of Special Taxation Act, Gwangju Metropolitan City Ordinance on Municipal Tax Exemption Act, or County Tax Exemption Act of each self-governing county.<Amended on May 15, 2012, November 10, 2023 >

Article 16 (Sale and Lease of Public Properties)

1. ① ① The Mayor may sell public properties to corporate investors on favorable conditions under Article 13 of the Act or the Gwangju Metropolitan City Ordinance on Public Property Management by taking into account the possibility of job creation, technology transfer, and spillover effect on the local economy, and allow the companies to make payment in installments.
2. ② The Mayor may lease the properties in compliance with the provisions of Article 13 of the Act and Gwangju Metropolitan City Ordinance on Public Properties Management, if a company applies for lease or rent of the public properties for the purpose of investment.

Article 17 Deleted <November 1, 2019.>

Article 18 (Companies Eligible for Subsidies)

1. ① The Mayor may provide subsidies for an enterprise which falls into any category of the paragraph prescribed herein< April, 15, 2009, May 3, 2010, May 13, 2011, May 15, 2012, August 1, 2013, November 1, 2019, July 6, 2020>
   1. 1. Where an enterprise which runs business in the provincial district over three years, transfers, installs or expands new or existing factory facilities < Amended on November 1, 2019, July 6, 2020 >
   2. 2. Where an enterprise whose equity interest held by the foreign investor in the enterprise concerned shall be 30/100 or more or the foreign investor herein shall be the largest shareholder of the enterprise concerned.
      In case Korean nationals or corporations directly or indirectly hold voting stock of a foreign corporation or an enterprise making foreign investment, the proportion equivalent to the shares shall not be counted as the equity interest held by the foreign investors.< November 1, 2019, July 6, 2020 >
   3. 3. Where an enterprise which transfers or newly installs its factory facilities from extraterritorial jurisdiction into the provincial district < Amended on May 3, 2010, May 13, 2011, August 1, 2013, November 1, 2019 >
   4. 4. Where an enterprise which has completed a course of startup incubating program served inside the jurisdiction and transfers or newly installs its factory facilities into national industrial complexes out of the jurisdiction<Amended on November 1, 2019>
   5. 5. Where an enterprise, whose business in particular is deemed necessary to foster specialized local industries by the City Mayor, newly installs or expands its factory facilities. < Amended on May 13, 2011, November 1, 2019.>
2. ② Any enterprise who wishes to be subsidized shall meet any of the requirements stipulated in the following paragraph hereof. Provided that enterprise, which represents in the paragraph 1 of Section 1, shall belong to any of the following paragraph and shall have the portion of new employees at 10 percent (at least 10 full-time workers) of the existing full-time employees. <May 3, 2010, May 13, 2011, May 15, 2012, November 1, 2019, July 6, 2020, November 10, 2023>
   1. 1. An enterprise with investment worth more than KRW 2 billion and at least 20 full-time employees <Newly established on November 1, 2019 >
   2. 2. An enterprise with 50 or more full-time employees <Newly established on November 1, 2019>
   3. 3. Where a reshoring companies that meets the requirements in the aforementioned paragraph 1 and 2 <Newly established on November 1, 2019>
   4. 4. Where an enterprise, which is separately specified in the Enforcement Regulations, shall make investment worth more than KRW 1.5 billion and hire more than 15 full-time employees. <Newly established on November 1, 2019>
   5. 5. Headquarters or research institutes or companies specifically prescribed in the Enforcement Regulations shall make investment worth more than KRW 1 billion and hire at least 10 full-time employees <Newly established on November 1, 2019>
3. ③ Whether to satisfy the aforementioned provisions in which an enterprise, whose business in particular is deemed necessary to foster specialized local industries by the City Mayor, newly installs or expands its factory facilities, stated in the Article 18-(1)-5 hereof shall be determined by careful deliberation of the Committee <Newly established on November 1, 2019.>
4. ④ The city mayor may provide an enterprise with subsidies under the provisions prescribed by Investment Promotion Act 14 and 14-2, in which cases the amount of subsidies to be granted is determined in proportion of budget allocations determined by the authorities. However, unallowable resubmission and overlapping application by the recipient shall not be accepted in accordance with terms stated on the Article 19 through Article 22. <Newly established on November 1, 2019>
5. ⑤ The Mayor may provide support to attract capital investment, even if it is not to attract domestic and foreign companies.< Amended on May 15, 2012, July 6, 2020 >
6. ⑥ Excluded from support are investment in businesses stipulated in Article 29.3 of the Enforcement Decree of the Restriction of Special Taxation Act (consumption-oriented service industries), businesses stipulated in Article 60.2.1 of the Enforcement Decree of the Restriction of Special Taxation Act (real estate and construction), or wholesale and retail business.< Newly established on July 6, 2020.>

Article 19 (Industrial Site Location Subsidy)

1. ① The Mayor may finance part of the land purchasing cost within the budget as site location subsidy, if a corporate investor purchases or receives an allotment within an industrial complex < Amended on May 3, 2010 and May 15, 2012, November 11, 2019, November 10, 2023>
2. ② Any enterprise which falls onto the categories specified in the Article 18-(1)-1 hereof, shall not be granted the forementioned industrial site subsidies < Newly established on November 1, 2019>

Article 20 (Equipment Investment Subsidy)

1. ① The Mayor may provide equipment investment subsidies to a corporate investor within the following budget allocations in case the enterprise herein mentioned transfers, newly establishes or expands its factory facilities.< Amended on April 1, 2018, November 1, 2019, July 6, 2020, November 10, 2023 >
   1. 1. Construction investment cost < Amended on July 6, 2020>
   2. 2. Deleted < July 6, 2020>
   3. 3. Purchase cost of machineries and equipmen < Amended on April 1, 2018, July 6, 2020.>
   4. 4. Working environment improvement facility investment expense < Amended on April 1, 2018, July 1, 2019, July 6, 2020 >
2. ② quipment investment subsidies may be provided for an enterprise which falls into the categories prescribed in Article 18-1-(1) hereinabove, in the event that the company herein transfers its factory facilities. In such cases, the extent of facility site areas to be deemed appropriate shall exceed the gross building area which refers to the sum of all floors of a building such as the total areas of an old factory site < Newly established on November 1, 2019 >
3. ③ The extent to which other equipment investment subsidy is granted shall apply the attached table 4 of national financial fund support standards < Established on July 6, 2020, November 10, 2023 >

Article 21 (Employment Subsidy)

The Mayor may provide employment subsidy within the budget for newly hired full-time employees who exceeds the fixed number of workforce < Amended on May 15, 2012, November 10, 2023 >

Article 22 (Training and Education Subsidy)

The Mayor may provide training and education subsidy within the budget to corporate investors that train and educate newly hired full-time employees in order to cultivate them into excellent human resources for corporate activities .<Amended on May 15, 2012, November 10, 2023>

Article 23 (Regional Elective Subsidy)

The Mayor may provide regional elective subsidy within the budget to a foreign-invested company that makes a certain amount of investment, provided that beneficiary of site location subsidy pursuant to Article 19 shall not receive regional elective subsidy. <Amended on May 15, 2012, November 10, 2023>

Article 24 (Subsidies for Consulting Services)

The Mayor may provide subsidies within the budget to cover the consulting fee, if a company commissioned consulting services to invest in the City.<Amended on May 15, 2012, November 10, 2023>

Article 24-2 (Support the Relocating Employee Subsidy)

The Mayor may provide subsidies within a budget limit when an enterprise out of the jurisdiction makes a certain amount of investment to support relocation of employees <Newly established on November 1, 2017, November 10, 2023.>

Article 25 (Subsidy Ceiling)

1. ① The sum of subsidies stated in Article 19 to Article 24 shall not exceed KRW 5 billion per company.
2. ② The City shall not provide additional support under the Ordinance for the matters a corporate investor already received under the national financial fund subsidy standards. < Amended on April 15, 2009, May 3, 2010, May 15, 2012, August 1, 2013, November 1, 2019, July 6, 2020 >

Article 26 (Special Subsidy for Corporate Investors)

1. ① Notwithstanding the provisions of Article 19 through Article 25, the Mayor may provide special assistance as an exception for large corporate investors deemed contributable to local economy, complying with detailed budget limit and criteria autonomously legislated. However, the subsidy dispensation shall be approved by the City Council in advance, if the total amount of the cash grants exceedsd KRW 30 billion.< Amended on May 3, 2010 and August 1, 2013, December 15, 2017, November 10, 2023 >
2. ② The extent of large investment shall be defined following the provisions prescribed in the subparagraph 1 and 2. Provided that the investors (or invested companies) that fall into the categories specified in Article 18-2-(4) or 18-2-(5) shall comply with the subparagraph 3; < Amended on Apri 1, 2018 July 6, 2020, November 10, 2023 >
   1. 1. A foreign-invested company with at least USD 50 million of investment or over 300 full-time employees
   2. 2. A domestic company with at least KRW 50 billion of investment or over 300 full-time employees
   3. 3. Enterprises with total investment amount valued at (over) KRW 40 billion or with (more than) 200 full time employees < Newly established on April 1, 2018>

Article 27 (Financial Support)

The Mayor may preferentially support corporate funds managed by the City including SME Development Fund under the Ordinance of Gwangju Metropolitan City SME Development Fund Establishment and Management< Amended on May 15, 2012>

Article 28 (Improvement of Living Conditions for Foreign Nationals)

1. ① The Mayor may finance part of the cost to manage or operate the part or entirety of facilities or land, within the budget to improve living conditions for foreigners in any of the following cases: <; Amended on May 15, 2012>
   1. 1. Establishment or expansion of foreign schools (including residences for foreign teachers)
   2. 2. Establishment of residential complex for foreign nationals
   3. 3. Establishment of support facilities for foreign residential complex including daycare centers or medical centers
2. ② Rent or usage rate for public properties shall be in accordance with the rates stipulated in Article 28.4 of the Gwangju Metropolitan Ordinance on Public Property Management, if the public assets are up for use of foreign schools or auxiliary facilities.

Article 29 (Support for Industrial Complex Development Project)

1. ① In the cases deemed necessary by the Mayor, the Mayor may offer support to businesses stated in Article 2.6 of the Act on Industrial Site and Development from general accounting or other special accounting.
2. ② In the case of transferring accounting to put the properties built by the business pursuant to Paragraph ① to public use, the accounting transfer may be executed free of charge with the consent of the City council. < Amended on November 10, 2023 >

Article 30 (Follow-up Management)

1. ① The Mayor shall document and provide the list of corporate investors that receive subsidies stated in this Ordinance.< Amended on July 6, 2020 >
2. ② The Mayor shall take follow-up measures after provision of subsidies to invested enterprises by checking on them on a regular basis.
3. ③ The Mayor shall take appropriate measures to meet the requirements for granting subsidies under Article 31 except for justifiable reasons such as settlement of mortgage or performance guarantee insurance. < Amended on August 1, 2013>
4. ④ The enterprises which received subsidies shall maintain their business unless there is justifiable reasons for five or more years (referred as "business commitment period") from the date of the subsidy application date, and keep the number of full-time workers as required for the subsidy provision. However, the business commitment period required for the enterprise which received employment subsidy and employment and training subsidy shall be three years. < Newly established on July 6, 2020 .>

Article 31 (Cancelation or Retrieval of Subsidies)

1. ① The Mayor shall cancel, or demand full or partial retrieval of subsidies from the recipients in accordance with the attached table under any of the following circumstances when. <Amended on January 1, 2009, May 13, 2011, May 15, 2012 and August 1, 2013, November 10, 2023 >
   1. 1. An enterprise operates a factory for a while, and then scales down, shuts down or moves to other cities within the business commitment period < Amended on May 3, 2010, May 13, 2011, August 1, 2013, April 1, 2018, July 6, 2020 >
   2. 2. Receiving subsidies via a false means and methods<Amended on May 15, 2012>
   3. 3. An enterprise which belongs to the provisions prescribed in Article 18-1-(1) shuts down, sells off, rents or scales business currently operating down within the business commitment period. However, exception shall apply to a relocating company. < Newly established on November 1, 2019.>< Amended on July 6, 2020 >
   4. 4. An enterprise received subsidies fail to maintain the number of workers required for the subsidy application during the business commitment period < Amended on July 6, 2020>
   5. 5. The preconditions directly connected to application for the subsidy remain unmet afterwards < Amended on July 6, 2020>
   6. 6. ny other cases considered unable to achieve the goal of subsidy provision
   7. 7. Deleted <November 1, 2019>
2. ② Deleted < July 6, 2020>
3. ③ Deleted <July 6, 2020>
4. ④ Deleted <July 6, 2020>
5. ⑤ Deleted <November 1, 2019>

Article 32 (Provision of Incentive, etc.)

1. ① The Mayor may grant incentive to an individual (organization, group, company) recognized for having made significant contribution to inducing investment from domestic and foreign enterprise <Amended on May 15, 2012>
2. ② The Mayor may offer opportunities for promotion, pay raise, incentive to a municipal government official recognized for having made significant contribution to induce investment from domestic and foreign enterprises by and under relevant rules and regulations. < Amended on May 15, 2012>

Article 33 (Management of Civil Affairs)

1. ① The Mayor shall handle civil affairs by seeking cooperation from relevant government agencies, if reported cases on business launch or factory establishment are associated with the agencies.
2. ② Civil affairs to be handled in accordance with Paragraph ① shall be as follows
   1. 1. Civil affairs on launch or expansion of business including factory
   2. 2. Sale of factory sites, sales contract, factory registration
   3. 3. Sale or lease of factory sites reserved for foreigners
   4. 4. Grievances of corporate investors or other issues

Article 34 (Application of Other Ordinances, etc.)

Relevant provisions under the Gwangju Metropolitan City Subsidy Management Ordinance shall apply to other issues that are not stipulated in this Ordinance with regard to the execution or settlement of budget.< Amended on August 1, 2013>

Article 35 (Enforcement Regulations)

Any matters deemed necessary for the enforcement of this Ordinance shall be stipulated in the Enforcement Regulations.< Amended on November 10, 2023 >

1. ① (Enforcement Date) The Ordinance shall come into force from the date of promulgation.
2. ② (Transitional Measures Concerning Support for Corporate Investors) The provision of various subsidies for the coporate investors which launched the business prior to the enforcement date of this Ordinance shall follow previous regulations.

Article 1 (Enforcement Date)

The Ordinance shall come into force from the date of promulgation.

Article 2(Transitional Measures Concerning Support for Corporate Investors)

The provision of various subsidies for the coporate investors which launched the business prior to the enforcement date of this Ordinance shall follow previous regulations.

Article 1 (Enforcement Date)

The Ordinance shall come into force from the date of promulgation.

Article 2 (Applicability)

The National Financial Fund shall apply to the enterprise which launched business from the date of January 12, 2011, in accordance with the "The Standards for National Financial Fund Support regarding the Local Governments Attracting Corporate's Local Investment (Ministry of Knowledge Economy Notice (No.2011-4)

Article 1 (Enforcement Date)

The Ordinance shall come into force from the date of promulgation.

Article 2 (Transitional Measures)

The provision of various subsidies for the coporate investors which launched the business prior to the enforcement date of this Ordinance shall follow previous regulations.

Article 1 (Enforcement Date)

The Ordinance shall come into force from the date of promulgation.

Article 2 (Transitional Measures)

The retrieval from the enterprise which received subsidies prior to the enforcement date of this Ordinance shall follow previous regulations.