Icheon-si Provides Customized Support Including Subsidies and Tax Reductions for Investment Companies

Ordinance Enacted... 3 Billion KRW Subsidy for Companies Investing Over 20 Billion KRW

Gyeonggi-do Icheon-si has prepared various support measures such as subsidy support and tax reductions to attract corporate investment.

On the 30th, Icheon-si announced that it recently enacted the "Ordinance on Promotion of Investment Attraction, etc.," which includes plans to provide various incentives to companies, and will implement it starting from the 9th of next month.

The ordinance contains provisions to help companies selected through the Investment Attraction Committee, which have signed a business agreement with Icheon-si, to settle stably by providing customized support such as various subsidies, infrastructure support, and tax reductions.

In particular, the city established a support measure in the ordinance to provide subsidies of up to 3 billion KRW for large-scale investment companies investing more than 20 billion KRW. A city official explained, "This plan is differentiated from other local governments," adding, "It reflects our determination to make every effort to attract excellent companies."

Earlier, in November of last year, the city launched the "Advanced Future City Promotion Team" and newly established the "Investment Attraction Team" to promote various investment attraction plans.

Kim Kyung-hee, mayor of Icheon-si, said, "Starting with the enactment of the ordinance, we will do our best to establish a solid foundation for attracting companies, such as creating industrial complexes, so that Icheon-si can be reborn as a city where the future of companies begins."