JEJU-DO < invest Korea

According to Yonhap News,

There was a briefing session to attract companies to Hawon Techno Campus, under construction to become a high-tech base for the Jeju space industry.

Jeju-do held a briefing session on the plan to build Hawon Techno Campus to about 80 people from organizations and 40 companies including satellite parts manufacturers at Four Seasons Hotel in Gwanghwamun, Seoul on July 31.

Jeju Governor said, "Hawon Techno Campus has been designated as an Opportunity Development Zone and will be created as an industrial complex in the future. Jeju will fully support companies moving into the Hawon Techno Campus to make it a key hub for the private space industry in Korea."

Hawon Techno Campus will be located on the site of former Tamna University in Hawon-dong, Seogwipo-si.

With the designation as the ODZ by the government, companies in Hawon Techno Campus could be provided with reductions in income tax, corporate tax, real estate acquisition tax, property tax, development charges, and inheritance tax.

It can also be created as an industrial complex without restrictions on the area limit, set by the guidelines for the development of industrial complex location development.

Jeju-do plans to apply to the Ministry of Land, Infrastructure and Transport (MOLIT) in August to designate a new industrial complex for Hawon Techno Campus.

In Hawon Techno Campus, Hanwha System is currently constructing Jeju Hanwha Space Center and Perigee Aerospace, a startup in the space industry, is planned to move in.

koss@yna.co.kr

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Source: Yonhap News (July 31, 2024)