JEOLLABUK-DO < invest Korea

Article 1 (Purpose)

Article 2 (Definitions)

1. 1. "Foreign investment" refers to investment as stipulated in Article 2(1)4 of the Foreign Investment Promotion Act (hereinafter referred to as the "Act").
2. 2. "Foreign-invested enterprises" refer to enterprises as stipulated in Article 2(1)5 of the Act.
3. 3. "Industrial complex development project operators" refer to persons as stipulated in Article 16(1)1 and 16(1)2 of the Industrial Sites and Development Act.
4. 4. "Number of regular employees" refer to the number of employees as stipulated in the National Financial Funds Support Criteria for Local Governments to Attract Investing Companies.
5. 5. "Factories" refer to factories as stipulated in Article 2.1 of the Industrial Cluster Development and Factory Establishment Act. (Amended on July 3, 2015)
6. 6. “Headquarters” refers to a company’s headquarters as stipulated in its registration of establishment, or a place of business located at the company’s main address.
7. 7. "Research institutes" refer to corporate research institutes as stipulated in Article 16 of the Basic Research Promotion and Technology Development Support Act.
8. 8. “Producer services businesses” refer to call center and telemarketing services providers, based on criteria stipulated in the Korea Standard Industrial Classification published by Statistics Korea.
9. 9. “IT, CT and R&D businesses” refer to businesses involving information technology (IT), cultural technology (CT), and research and development (R&D) industries as stipulated in the regulations. (Amended on July 3, 2015)
10. 10. “Province residents” refer to persons who can be verified as residing in Jeollabuk-do through the resident registration system.
11. 11. "Collective relocation" refers to the geographic relocation of two or more companies in identical, similar or related sectors to the province that is intended to create a positive effect for all parties involved.
12. 12. “Large-scale investing companies” refer to companies with a minimum investment of KRW 100 billion, a minimum 300 regular employees in the case of manufacturing businesses, or a minimum 200 regular employees in the case of tourism businesses.
13. 13. “High-tech businesses” refer to businesses as stipulated in Article 15 of the Enforcement Decree of the Industrial Cluster Development Act.
14. 14. “Tourism businesses” refer to businesses that provide tourists with transportation, lodging, meals, sports, amusement, recreation, or other services or make any facility available to tourists in connection with tourism.
15. 15. “Tourism business types” refer to international conference venues, class-II resort complex businesses (golf courses excluded from specialized leisure businesses), general amusement complex businesses and corporate training centers as stipulated in Article 2 of the Enforcement Decree of the Tourism Promotion Act based on Article 3 of the Tourism Promotion Act.
16. 16. “Growth promotion areas” refer to areas as stipulated in Article 2(2) of the Special Act on Balanced National Development.
17. 17. “Major local industries” refer to local industries as stipulated in Article 3 of the Jeollabuk-do Ordinance on Local Industry Promotion and Support.
18. 18. “Carbon enterprises” refer to companies as stipulated in the Jeollabuk-do Ordinance on Carbon Industry Promotion and Support. (Newly established on July 3, 2015)
19. 19. “Repatriating companies” refer to companies that are eligible for support as stipulated in Article 7 of the Act on Assistance to Korean Offshore Enterprises in Repatriation. (Newly established on July 3, 2015)
20. 20. "Financial Institution” shall refer to as an organization articulated in the Joellabuk-do Ordinance on Assistance to Financial Service Industry. (Title amended on May 29, 2020)

Article 3 (Committee Establishment)

Article 4 (Committee Organization, Etc.)

1. ① Each committee shall be composed of between 11 to 25 members, including a chair, where the province’s deputy governor for economic affairs shall serve as the chair, provided the composition of commissioned members shall not be such that a particular gender makes up over 60% of the group. (Amended on October 22, 2014, Ocober 21, 2022, and proviso added on July 3, 2015)
2. ② Other committee members shall be appointed or commissioned by the Governor of Jeollabuk-do (hereinafter referred to as the "Governor") among the following:
   1. 1. (Ex officio) President of Jeollabuk-do Provincial Assembly’s Agro-industrial Economic Committee, Provincial Assembly members (Amended on September 30, 2016)
   2. 2. Former and present executives and employees of an agency, organization or company involved in investment promotion
   3. 3. Lawyers, certified public accountants, certified labor attorneys, or university professors who specialize in investment promotion
   4. 4. Others with professional experience and expertise in investment promotion
3. ③ The term in office of an appointed commissioner shall be two years, but may be extended for up to two more terms.
4. ④ Each committee shall have one assistant administrator who shall also be in charge of the committee’s general affairs.
5. ⑤ Should a committee member fall under any of the following circumstances, the member shall be excluded or recused from, or shall evade the deliberation or advisory session concerning the matter.
   1. 1. When the executive member (director or inspector) subjected to deliberation or advisory is a relative whose degree of kinship is within eight chon.
   2. 2. When the committee member is in a debtor-creditor relationship with the person subjected to deliberation or advisory.
   3. 3. When a fair deliberation or advisory is deemed impossible because the committee member is a direct or indirect party of interest to the person subjected to deliberation or advisory, the committee member who is a direct or indirect party of interest to the person subjected to deliberation or advisory may apply for recusal to the committee chair.
   4. 4. When a committee member is deemed incapable of carrying out a fair deliberation or advisory because the committee member is a direct or indirect party of interest to the person subjected to deliberation or advisory, the said committee member may apply for evasion to the committee chair.
   5. 5. When a committee member has a legitimate cause for exclusion, or applies for recusal or evasion, the committee chair shall decide on the exclusion, recusal or evasion of the member.
6. ⑥ To review or modify agenda items for deliberation by a committee or deal with matters entrusted by a committee, a Jeollabuk-do Investment Promotion Practical Affairs Council may be established and operated, where the composition and operation of the council shall be decided by the committee.

Article 5 (Committee Functions)

1. ① The Jeollabuk-do Investment Deliberation Committee shall deliberate on the following:
   1. 1. Investment promotion basic plan establishment and important policies related to investment promotion activities
   2. 2. Matters concerning various support measures for foreign and domestic investing companies
   3. 3. Matters concerning the designation of subsidy recipients
   4. 4. Matters that are unclear with regards to the interpretation of support criteria or scope of application
   5. 5. Other matters related to investment promotion submitted by the governor (Amended on November 4, 2022)
2. ② The Jeollabuk-do Investment Promotion Advisory Committee and Jeollabuk-do Foreign Investment Promotion Advisory Committee shall offer advice on the following:
   1. 1. Investment promotion basic plan establishment and important policies related to investment promotion activities
   2. 2. Matters concerning the attraction of investment from companies based in the capital area, the province, or a foreign country
   3. 3. Other matters related to investment promotion submitted by the governor (Amended on November 4, 2022)

Article 5-2 (Sub-Committee)

1. ① A separate group that consists of three to five members (hereinafter referred to as the sub-committee) may be appointed for the purpose of efficient management of the Jeollabuk-do Investment Deliberation Committee.
2. ② The sub-committee shall deliberate on the following:
   1. 1. Pre-examination of any provisions stipulated on the Article 5(1)2
   2. 2. Other matters regarding the subsidy management deemed necessary by the chair of the committee
3. ③ The sub-committee employ a director to govern general affairs and the director shall become the public official in charge of support for resolving corporate difficulties in Corporate Attraction Support Office (Amended on December 30, 2019, October 21, 2022)
4. ④ The term, qualifications and the cause of dismissal of a sub-committee member shall comply with provisions stipulated on the Article 4(2)2 to 4 and the Article 4(3) and (5). (the Article Newly established on June 7, 2019)

Article 6 (Allowance, Travel Expenses, Etc.)

Article 7 (Subsidies for Domestic Companies)

1. ① Should a business that has sustained its operations for three years or more investing in the province fall under one of the following categories and has hired a certain number of full time employees who fall under the category, the governor may provide subsidies within the scope of the budget. (Amended on July 3, 2015, December 29, 2017, and May 29, 2020)
   1. 1. Headquarters or factories of a producer services business with 10 or more full time employees
   2. 2. Research institutes with 5 or more regular employment researchers
   3. 3. A group of businesses with 5 or more full time employees each that go through collective relocation and have 10 or more full time employees in total
   4. 4. IT, CT or R&D businesses as stipulated in the regulations with 5 or more regular employees (Amended on July 3, 2015)
   5. 5. Carbon enterprises or companies offshoring to Korea hiring 5 or more full time employees, financial service providers
2. ② Employment subsidy within the scope of the budget shall be offered to a company which already has resided in the provincial district and meets the criteria stated in the Article 7(1) herein, provided that the company hires extra full time workers who are prescribed in each paragraph of the abovementioned Article 7(1). (Newly inserted on October 17, 2014, Amended on December 29, 2017, June 7, 2019, and May 29, 2020)
   1. 1. Deleted on May 29, 2020
   2. 2. Deleted on May 29, 2020
   3. 3. Deleted on May 29, 2020
3. ③ Subsidies within the scope of the budget under the Article 5(4) shall be offered to a company which sustained its operation less than three years since its incorporation and financed over KRW 3 billion in the province since the signing of an investment contract, provided that the company hires extra full time workers who are prescribed in each paragraph of the abovementioned Article 7(1). (Newly established on December 29, 2017, Amended on March 8, 2019, May 29, 2020)
4. ④ Corporate investments financed by a company, investing into the provincial district refers to as the cost for business stipulated in the following paragraph; (Amended on December 29, 2017, July 13, 2020)
   1. 1. Property purchase costs (lease or rent included), construction costs, equipment purchase costs and facility location with service installation costs
   2. 2. Work Environment Improvement Facilities (Any facilities or amenities designed to improve work place environment, prescribed in the Article 2(7) and Article 2(9) of the Enforcement Decree of the Industrial Cluster Development and Factory Establishment Act).
5. ⑤ Criteria for subsidy allocation to a company which makes investment into the provincial district shall comply with the following paragraph prescribed herein; (Amended on July 3, 2015, December 29, 2017, June 7 2019, and May 29, 2020)
   1. 1. Where subsidies up to 8 billion by each investment case within a 10 percent range of the investments that exceed KRW 1 billion (or KRW 100 million for a company that falls into the category of the Article 7(1)4 and Article 7(1)5 herein) shall be offered to a company in the event that the company transfers or newly establishes the head office, research center and factory facilities from extraterritorial jurisdiction into the provincial district (agglomerated forms of resettlement included).
   2. 2. Where subsidies up to KRW 1 billion by each enterprise and within a 5 percent range of the investments that exceed KRW 1 billion shall be offered to a company in the event that the company makes investment into “producer service business”, articulated in the Article 1(1).
   3. 3. Where subsidies up to KRW 8 billion by each enterprise and within a 10 percent range of the investments that exceed KRW 1 billion shall be offered to a company which has already resided in the provincial district in the event that the company invests in building out the existing facilities (Property purchase costs shall not be regarded as investments in accordance with the provisions hereof).
   4. 4. Provided that a company which sustained its operation less than three years since its incorporation shall be subject to the abovementioned provisions stipulated in the subparagraph 1 and 2 hereof.
6. ⑥ Provided that a company which sustained its operation in the region’s key growth industries more than three years since its incorporation moves its business into the locally formed industrial clusters (agricultural industry clusters included), an exclusive zone in which businesses under certain categories were specifically designated and agglomerated by Joellabuk-do for the purpose of fostering and supporting the business selected in priority shall be preferentially provided with subsidies within the budget limit of KRW 5 billion in accordance with the provisions stated herein. (Amended on July 3, 2015, December on 29, 2017)
7. ⑦ Provided that a company articulated in the abovementioned paragraph 1, 2 and 3 makes investment into a certain region which falls into the following category prescribed herein shall be preferentially provided with additional subsidies pursuant to each rate set by the following paragraph within the budget limit. (Amended on December 29, 2017, May 29, 2020)
   1. 1. For a company that invests in eastern part of the provincial district in accordance with the provisions stipulated in the Ordinance on Support for the Development of the East Region of Jeollabuk-do (hereinafter referred to as the east of the province), 5 percent of the budget shall be given as preferential subsidies.
   2. 2. For a company that invests in a Growth Promotion Zone other than the east of the province, 1 percent of the budget shall be given as preferential subsidies.
8. ⑧ Provided that a company running its operation in the provincial district is deemed to be capable of giving a significant implications in the local economy because of bankruptcy which is resulted from natural or manmade disasters and fires, but is newly establishing or building out its facilities or equipment with the support of financing programs such as SME funds or government loans, loan rates up to KRW 1 billion shall be compensated by each company. (Amended on December 29, 2017)

Article 8 (Special Support for Large-scale Investing Companies)

1. ① For domestic and foreign companies (including newly established corporate bodies) that make a large-scale investment in the province, the governor may provide subsidies up to KRW 10 billion for every investment case within a 10 percent range of the investment amount that exceeds KRW 1 billion, and within the highest budget limit for every investment case in compliance with the following paragraph herein:
   However, in the event that the company makes investment in the Growth Promotion Zones shall be given an additional 1 percent as preferential subsidies. (Amended on December 29, 2017, June 7, 2019)
   1. 1. A company which makes investments worth KRW 100 billion for each investment case or has over 300 full-time workers shall be given subsidies up to KRW 10 billion (Newly established on June 7, 2019)
   2. 2. A company which makes investments worth KRW 200 billion for each investment case or has over 500 full-time workers shall be given subsidies up to KRW 20 billion (Newly established June 7, 2019)
   3. 3. A company which makes investments worth KRW 300 billion for each investment case or has over 1,000 full-time workers shall be given subsidies up to KRW 30 billion (Newly established on June 7, 2019)
2. ② For large-scale investing companies and their partner firms that relocate to the province, the governor may provide financial support for the settlement of employees within the budget and as stipulated in the Regulations.(Amended on July 13, 2020).
3. ③ For large-scale investing companies that relocate to the province, the governor may designate a manager exclusively in charge of providing administrative assistance.
4. ④ For foreign and domestic companies that make a large-scale investment in the province, support may be provided for installing factory infrastructure within the budget and as stipulated in the Regulations.
5. ⑤ For roads near large-scale investing companies that have made a significant contribution to the local economy, the governor may recommend that the city or county mayor assign an honorary road name after the company as stipulate in Article 8-2 of the Road Name Address Act.

Article 9 (Differential Subsidies Based on Employment Scale)

Article 10 (Subsidies for Employment)

1. ①Provided that a company prescribed in the Articles 7, 8 and 12-2 hereof newly hires 20 or more Jeollabuk-do residents as full-time employees (5 or more in case of agglomerated forms of resettlement or in the business fields of ICT, research and development, carbon products manufacturing, reshoring companies and financial service providers, all employees in the event of newly establishing or relocating an R&D center), the governor may provide employment subsidies of up to KRW 1 billion for each company within the budget as stipulated in Regulations. (Amended on July 3, 2015, May 29, 2020, and April 9, 2021)
2. ②In case when the payment period of the job creation subsidy reshoring companies received from the Ministry of Employment and Labor (MOEL) expires, the province may support Jeollabuk-do job creation subsidy as stipulated in the Regulations (In this case, the employment subsidy stated hereabove might not be provided) (Newly on established April 9, 2021)

Article 11 (Subsidies for Education and Training)

Article 12 (Subsidy Limits and Prohibition of Subsidy Overlaps)

1. ① The aggregated amount of subsidies the governor provides to companies that invest in the province shall not exceed 50% of the total investment amount.
2. ② For subsidized companies that receive other national subsidies or other funds from the province in subsidies, the governor may not provide the subsidies. However, pursuant to Article 30(1), when national subsidies are smaller than local subsidies, the difference may be provided in addition to the national subsidies, and within the budget.

Article 12-2 (Special Support for Reshoring Companies)

1. ① When a reshoring company that belongs to the Article 9 of 「National Support Criteria for local government’s attraction of reshoring companies」commits investment in the province, the governor may additionally provide subsidies in the scope of the budget pursuant to the criteria set by the following Paragraphs (provided that the investment amount used as criteria for subsidies in Subparagraphs 1-4 shall be the scope acknowledged as facility investment amount according to Appendix 2 of 「National Support Criteria on local government’s attraction of reshoring companies」.)
   1. 1. When a company establishes or relocate a place of business: Within a 5 percent of facility investment amount (however, within the range of 10/100 if moving into a specialized complex), up to KRW 5 billion for each investment case
   2. 2. In case of collective relocation: Within a 10 percent range of facility investment amount, up to KRW 500 million for each investment case
   3. 3. When a company runs business in high-tech industries, or research institutes: Within a 10 percent range of facility investment amount, up to KRW 8 billion for each investment case
   4. 4. When the headquarters of a large conglomerate relocate: Within a 30 percent range of facility investment amount, up to KRW 30 billion for each investment case
   5. 5. When a company needs consulting or move equipment to liquidate overseas business: Within a 20 percent range of the cost spent for consulting and equipment relocation, up to KRW 40million for each investment case
   6. 6. Support Jeollabuk-do job creation subsidy in accordance with Article 10(2 0.
   7. 7. When a reshoring company newly builds or lease an accommodation facility for employees: support as stipulated in Regulations
2. ② For a reshoring company belongs to multiple subparagraphs under Paragraph 1, the governor may provide all of each applicable support
3. ③ Despite the Article 12(2), even if a reshoring company had received a reshoring investment subsidy (including subsidy for relocating) according to 「National Support Criteria for local government’s attraction of reshoring companies」 a governor may support subsidies in accordance with Article 10(2) and Article 12-2(1). Provided, the combined amount of subsidies from the government and Jeollabuk-do does not exceed a 50 percent of the total investment a company commits. (Newly established on April 9, 2021)

Article 12-3 (Application of Subsidy Regulations for Domestic Companies )

Article 13 (Location Subsidies)

1. ① Provided that a foreign invested company hopes to lease (or purchase) a land owned by the constructor of an industrial complex development project lower than the standard leasing fee (or purchasing price), the governor may cover up rent (or purchase prices) for the gap within the budget limit. However, in the event that the company once benefitted upon the terms and conditions of the provision hereby, the leasing fee (or purchasing price) shall not be included in “investments” articulated in the Article 7(5) and Article 8(1). (the Section Newly established on October 11, 2019)
2. ② The difference in leasing fee (or purchasing price) provided pursuant to Article 1 shall not exceed 50% of the standard amount.
3. ③ The governor may spend the province budget on purchasing land owned by the developer of an industrial complex development project, and lease the land to foreign-invested companies. The leasing fee shall be pursuant to the Jeollabuk-do Ordinance on Common Property Management.

Article 14 (Application of Subsidy Regulations for Domestic Companies)

Article 15 (Prohibition of Duplicate Provision)

Article 16 (Local Tax Reductions for Foreign Investment)

Article 17 (Exceptions for Common Property Leasing and Sales)

Article 18 (Support for Foreign Investment Areas)

Article 19 (Support for Foreign Living Environment Enhancement Businesses)

1. ① The governor may provide subsidies within the budget to support any of the following.
   1. 1. Any of the following as stipulated in Article 2(8) of the Decree:
      1. A. Establishment and operation expenses for schools for foreigners
      2. B. Establishment of foreigner-only medical facilities, etc.
      3. C. Accommodation facilities for foreign-invested company employees
      4. D. Establishment, etc., of new childcare centers and other facilities for enhancing the living environment of foreigners regarding foreign investment
   2. 2. Foreign educational institutions as stipulated in Article 22(1) of the Special Act on Designation and Management of Free Economic Zones.
   3. 3. Foreign medical institutions as stipulated in Article 23(1) of the Special Act on Designation and Management of Free Economic Zones.
   4. 4. Other facilities recognized as necessary by the governor for the purpose of affracting foreign investment
2. ② For public facilities made available to operators of foreigner investment environment enhancement facilities pursuant to Article 2(1)7 of the Act as stipulated in Article 1 of the Regulations, Article 23 of the Jeollabuk-do Ordinance on Public Property Management shall be applied to the annual loan or usage rate.
3. ③ Support pursuant to Article 1 of the Regulations shall be decided by the Jeollabuk-do Investment Deliberation Committee in consideration of the individual demands, etc., of foreigners.

Article 20 (Tourism Business Investment Promotion Committee Establishment)

Article 21 (Tourism Committee Composition, Etc.)

1. ① The Tourism Committee shall be composed of 9 to 15 members, including the chair, where the Vice Governor of Administrative Affairs serves as the chair. However, the composition of commissioned members shall not be such that a particular gender makes up over 60% of the group. (Amended on October 22, 2014, proviso added on July 3, 2015)
2. ② Committee members are to be appointed or commissioned by the governor from the following:
   1. 1. Jeollabuk-do Provincial Assembly members.
   2. 2. Former or present executives at institutions, organizations or companies involved in the tourism industry
   3. 3. Lawyers, certified public accountants, labor attorneys, or university professors in the tourism industry-related fields
   4. 4. Persons with expert knowledge and experience concerning the tourism industry
3. ③ Each committee member shall serve a 2-year term, which may be extended for 2 additional terms.
4. ④ The Tourism Committee shall have one administrative secretary to deal with administrative affairs of the committee, where the administrative secretary shall serve as director of all matters under his/her charge.
5. ⑤ Should a Tourism Committee member fall under any of the following circumstances, the member shall be excluded or recused from, or shall evade the deliberation or advisory session concerning the matter.
   1. 1. When the executive member (director or inspector) subjected to deliberation or advisory is a relative whose degree of kinship is within eight chon.
   2. 2. When the committee member is in a debtor-creditor relationship with the person subjected to deliberation or advisory.
   3. 3. When a fair deliberation or advisory is deemed impossible because the committee member is a direct or indirect party of interest to the person subjected to deliberation or advisory, the committee member who is a direct or indirect party of interest to the person subjected to deliberation or advisory may apply for recusal to the committee chair.
   4. 4. When a committee member is deemed incapable of carrying out a fair deliberation or advisory because the committee member is a direct or indirect party of interest to the person subjected to deliberation or advisory, the said committee member may apply for evasion to the committee chair.
   5. 5. When a committee member has a legitimate cause for exclusion, or applies for recusal or evasion, the committee chair shall decide on the exclusion, recusal or evasion of the member.

Article 22 (Tourism Committee Functions, Etc.)

1. 1. Establishment of tourism industry basic plans and important policies on attracting investment to the tourism industry
2. 2. Matters regarding various support for foreign and domestic investing companies involved in the tourism industry
3. 3. Matters regarding the selection of subsidy recipients, etc.
4. 4. Other matters submitted by the governor involving the tourism industry (Amended on November 4, 2022)

Article 23 (Tourism Committee Management, Etc.)

1. ① The meeting of the Tourism Committee shall be convened when the chair deems it necessary, and the chair shall head the meeting.
2. ② Committee members attending a Tourism Committee meeting can be paid an allowance or for travel or other necessary expenses. However, this is not the case when the member is a civil servant, and is attending the meeting as a person directly involved in matters under his/her jurisdiction.

Article 24 (Tourism Business Practical Affairs Committee)

1. ① When necessary, the Tourism Committee may organize or operate a working committee to efficiently carry out the committee’s activities.
2. ② Matters regarding the organization and operation of the working committee shall be put through a vote and be decided by the chair.

Article 25 (Tourism Business Facility Investment Subsidies)

1. ① For companies whose investment in the tourism industry is a minimum KRW 10 billion, including land purchasing expenses, construction expenses, and infrastructure installation expenses, and has 20 or more regular employees, the governor may provide subsidies of up to KRW 2 billion within 10 percent of the total investment amount, and within the budget. However, this is not the case for when acquiring a site or building at an existing place of business.
2. ② For companies that make large-scale investments in tourism businesses, the governor may provide subsidies of up to KRW 10 billion within 10 percent of the total investment amount, and within the budget. However, when a single business operator invests in two or more businesses located at a single place of business, the investments in each business shall be added up.
3. ③ Companies subsidized in accordance with paragraph 2 may receive financial support for tourism industry infrastructure as stipulated in the Regulations and within the budget, but not in addition to subsidies for infrastructure installation expenses as stipulated in paragraph 1.

Article 26 (Tourism Business Employment Subsidies)

Article 27 (Tourism Business Education and Training Subsidies)

Article 28 (Prohibition of Duplicate Provision)

Article 29 (Decisions, Etc., on Support, Etc.)

1. ① Various subsidies provided based on this Ordinance are only provided companies that have signed an investment agreement with Jeollabuk-do on an earlier date. (Amended on October 17, 2014)
2. ② For permission filed to be given grants hereby, a company or a person to receive subsidies shall submit a required application form, which will be reviewed by the city mayor or governor, who are under obligation to share information on the statutory provisions on investment promotion enacted to provide incentives and cash grants with the provincial government, and to be in collaboration with Jeollabuk-do for better investment promotion activities. (Amended on March 8, 2019)

Article 30 (Special Cases for Support)

1. ① Provided that a company investing in the provincial district falls into the category prescribed in the National Financial Funding Standards for Local Governments’ Attraction of Foreign Investment, or the National Financial Funding Standards for Local Governments’ Attraction of Local Investment Companies, or the National Financial Funding Standards for Local Governments’ Attraction of Reshoring Companies Investment, such provisions thereunder shall be preferentially applied. (Amended on April 9, 2021)
2. ② Based on paragraph 1, the provision rate of each local government for subsidies supported by the country is as follows:
   1. 1. General areas: province 30%, city or county 70%
   2. 2. Growth promotion areas: province 50%, city or county 50%
   3. 3. Areas in the eastern region as stipulated in the Jeollabauk-do Ordinance on Eastern Region Development Support: province 70%, city or county 30%
   4. 4. An area designated by the authorities as a special zone of economic concerns from natural disasters: province 50%, city or town: 50% (Newly established on October 5, 2018)
3. ③ Provided that a company which has sustained its operation within Korea for three years or more newly incorporates a separate entity, similar or related to the existing business, subsidies may be provided pursuant to the provisions prescribed in the Article 7(5)1, after careful deliberation of the Jeollabuk-do Investment Deliberation Committee. (Amended on December 29, 2017)
4. ④ Despite the application criteria for subsidies as stipulated in this Ordinance, the governor may increase the rate or maximum amount of the subsidy in consideration of the following, once it is deliberated by the Jeollabuk-do Investment Deliberation Committee.
   1. 1. When attracting a company (certification or evaluation company, corporate R&D research institute, etc.) essential to raising the completion level of an industry cluster located in the province
   2. 2. When attracting a company in an advanced industry (convergence industries such as nuclear or IT, biotechnology, information and communication, space development, new materials, nano technology industries, etc.)
   3. 3. When attracting a company recognized by the governor for having a significant impact on the local economy, as in the creation of employment opportunities and in attracting other companies

Article 31 (Activities of External Experts, Etc.)

1. ① For matters necessary in attracting companies and investment, such as the company’s stability, growth potential, economic impact, etc., the governor may seek advice from an external expert (organization), and pay the advisory fee within the budget.
2. ② To efficiently push forward with efforts to attract investment, the governor may request for an institution or organization to dispatch an expert, and if necessary carry out the special employment of an accountant or other expert in the related field.
3. ③ The governor may allow dispatched employees from private institutions as stipulated in the regulations of Paragraph 2 to use common property, including accommodation facilities, and provide expenses necessary for attracting investment within the budget.

Article 32 (Private Outsourcing of Office Work, Etc.)

Article 33 (Support for Monetary Incentives, Etc.)

Article 34 (Follow-up Management for Investing Companies)

1. ① When follow-up measures are deemed necessary, the governor may require that the subsidized company or other interested party to report necessary matters. The governor may also have relevant civil servants conduct an investigation.
2. ② (Deleted on October 17, 2014)
3. ③ When a subsidized investing company changes to a business type that is not eligible for subsidies within 5 years of business initiation, the subsidies may be recovered. (Amended on July 3, 2015)

Article 35 (Cancellation of Support, Etc.)

1. ① For companies that have received various subsidies in accordance to this Ordinance, and fall under any of the following cases, the governor, or mayor of the city or county, may cancel the provision of subsidies, etc., or recover all or part of the subsidies provided.
   1. 1. When it has been concluded that the company used a falsehood or other wrongful method to receive subsidies (Amended on November 4, 2022)
   2. 2. When the factory or company temporarily or permanently closes without good reason within 5 years since the factory begins operation or the company commences business
   3. 3. When the business selected for subsidies reduces its investment scale within 5 years due to asset disposals, etc.
   4. 4. When the company fails to begin construction of the factory. Etc., within 2 years after signing the lease or sales agreement
   5. 5. When it has been concluded that the company is incapable of reaching the goal of the provided subsidies
   6. 6. When the company disposes of a site that has been purchased with subsidies provided within the past 5 years
   7. 7. When the company fails to maintain for a minimum 3 years, without good reason, the number of employees for whom it received Employment Subsidies and/or Education and Training Subsidies
   8. 8. When the subsidized company relocates to a different city or province within 5 years
2. ② For subsidies that must be recovered in accordance to the regulations in Article 1, the governor may forcibly collect the subsidized amount in accordance with local tax collection cases.

Article 36 (Support for Attraction Efforts at the City or County Level)

1. ① Should the company the province hops to attract is deemed by the governor to have a large economic impact such as on job creation, and by request for support by a city or county, subsidies may be given within the budget.
2. ② The amount and composition of subsidies for activities to attract investment by cities and counties will be decided in consideration of the all maters including the financial circumstances of the relevant city or county, and after being deliberated by the Jeollabuk-do Investment Deliberation Committee.

Article 37 (Enforcement Regulations)

Article 1 (Date of Enforcement)

Article 2 (Interim Measures)

Article 1 (Date of Enforcement)

Article 2 (Application Examples)

Article 1 (Date of Enforcement)

Articles 2 to 3 Omitted

Article 4 (Revisions to Other Ordinances)

Article 1 (Date of Enforcement)

Article 2 (Interim Measures)

Article 3 (Special Cases on the Gender Quota for Commissioned Committee Members)

Article 1 (Date of Enforcement)

Article 2 (Interim Measures)

Article 1 (Date of Enforcement)

Article 2 (Application Examples)

Article 3 (Interim Measures)

Article 1 (Date of Enforcement)

Article 2(Interim Measures)

Article 1 (Date of Enforcement)

Article 2(Application Examples)

Article 3 (Interim Measures)

Article 1 (Date of Enforcement)

Article 2 (Interim Measures)

Article 1 (Date of Enforcement)

Article 2 (Revisions to Other Ordinances)

Article 1 (Date of Enforcement)

Article 2(Interim Measures)

Article 1 (Date of Enforcement)

Article 2 (Application Examples Cerncerning Consolidation or Restructure of Departments)

Article 2 (Revisions to Other Ordinances)

Article 17 (Revisions to 「Ordinace on Promotion of Business and Investment Attraction」)