Sacheon City to Provide Corporate Subsidies ... Establishes New Investment Promotion Fund

Stable Subsidy Support for Various Corporate Grants, Land Purchase Cost Assistance, and Performance Bonuses

Sacheon City in Gyeongnam Province announced on the 3rd that it will establish the Sacheon City Investment Promotion Fund, totaling 5 billion KRW over the next five years starting in the second half of this year, to actively attract investment.

To this end, the city amended the ordinance on the attraction of businesses and investments in Sacheon in May to provide a legal basis for establishing the fund, and held a review committee for the operation of the Investment Promotion Fund in June.

The Sacheon City Investment Promotion Fund Operation Deliberation Committee is being held.

With the completion of the Gyeongnam National Aerospace Industrial Complex approaching, the city plans to secure a total of 5 billion KRW for the Investment Promotion Fund by allocating 1 billion KRW annually until 2028.

It is expected that this will lay the foundation for efficiently and stably supporting various subsidies in response to the anticipated increase in corporate investment following the establishment of the Aerospace Administration.

The fund will be used to provide various subsidies, support for land purchase costs, and performance incentives to companies investing in Sacheon City.

Mayor Park Dongsik said, "We will provide efficient and stable subsidies to companies investing in our city," and added, "We plan to expand the fund in line with the trend of corporate investment, so we hope many will invest in Sacheon City."