‣The Ombudsman visited the local government concerned to explain the issue and listen to the position of the local government.
- The local government gave its opinion that when a foreign-invested company performs and executes a certain amount of FDI in accordance with the “Cash Grant Agreement,” the company fully implements the mandatory provision under the Agreement. Thus, it is unreasonable to redeem part of the cash grant.
‣ Based on the local government’s opinion, the Ombudsman delivered the stance of the local government regarding the settlement of the cash grant and raised the issue with the existing system.
- Article 10-3 of the Cash Grant Agreement clearly states that the “investment execution plan does not include cash grants,” so it may create confusion for foreign-invested companies.
•Results: The official in charge promised to revisit the problem raised by the Ombudsman’s Office and come up with improvement measures to prevent such problems. In addition, he decided to take proper measures for the satisfactory settlement of the cash grant for the company.