Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) soon ki Lee Journalist = Cheonan city is actively promoting domestic and foreign investment attraction recently. It will reach $46,657,694.03(520,000,000,000KRW) in the first half of 2018. The regions which invest funds to Cheonan city are diverse, which include America, Europe, Asia, etc.

The fields which have succeeded in attracting investment contain the core elements of the 4th industry, the future growth economic dynamics such as semiconductor, environment-friendly energy, aircraft, etc.

The city finished the $5,000,000 investment agreement with FineEnergy Co., Ltd, U.S.A. on May 28, 2018 and is promoting the business consultation about gas machine production facility for semiconductor production of $20,000,000 with E enterprise in UK.

The city concluded semiconductor wafer investment agreement of
$430,686,406(480,000,000,000KRW) with GlobalWafters, Taiwan on Apr 17.

When foreign-invested enterprises enter Korea, they can be exempted in whole or in part for tax (national tax, local tax) within a maximum of 15 years in accordance with Foreign Investment Promotion Act and Restriction of Special Taxation Act.

When they move in a foreigner complex, they can do with a low rent. Of course, when it invests over $5,000,000(5,500,000,000KRW), it can save the initial investment funds with the reduction of 75% of the rent.

Koo Bon Young, the mayor of Cheonan, said, “In order to attract
overseas excellent companies to Cheonan city, we'll find the additional alternative land for industrial complex and in order to be a tow truck of local jobs creation and economic development by carrying forward the enlargement of subsidy support for attracting excellent companies, we'll not spare the administrative support.”

NSP News Agency/NSP TV soon ki Lee Journalist, s8789@nspna.com
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