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Comparison of Land Price of National Industrial Complex

  • Comparison of Land Price of National Industrial Complex
    Comparison of Land Price of National Industrial Complex
    Description Busan-Hwajeon Industrial Complex Gyeonggi-SeongnamIndustrial Complex Chungnam Seokmun Industrial Complex GFEZ Yulchon Industrial Complex No. 1
    Land Price(Thousand won/㎡) 465   221 123

    ※ As a land-fill site using the dredged soil, Gwangyangman region can supply the industrial complex site with cheap price

  • Industrial complex under construction within GFEZ
    Industrial complex under construction within GFEZ
    Description Total Sepung Industrial Complex Daesong Industrial Complex Hadong-Joseon Industrial Complex Haeryong Industrial Complex Hwanggeum Industrial Complex Yulchon Industrial ComplexNo. 2
    Area 18.35㎢ 3.00㎢ 1.37㎢ 5.61㎢ 1.99㎢ 2.59㎢ 3.79㎢
    Operator Gwangyang Development Daesong Industrial Development Hadong District Development Project Foundation Daewoo E&C Hanyang Corporation Hyundai E & C, Daewoo E & C
  • Industrial Condition and Industrial Land in GFEZ
    • Occupy 14.7% of area of national industrial complexes (188.9㎢, National total: 1,285㎢)
    • Occupied by around 2,700 manufacturing businesses
    • Annual sales of 92.9 trillion, Annual export amount of 35.5 trillion

Yulchon Free Trade Zone

  • Rent for factory site: Monthly 40 won/㎡
  • Exonerate the rent for the foreign investment company
    • No rent for factory site and standard factory
      • ① For the new foreign investment of $10 million or in case of standard factory, $5 million or more
      • ② For new foreign investment of $1 million or more for the advance technology businesses, the businesses accompanied the advanced technology and industry support services
    • Exoneration Period: it shall be applied for 10 years from the entered date and renewable
  • Tenancy Qualification and Tenant Businesses for Yulchon Free Trade Zone
    • For the manufacturing business of the foreign investment company (investment amount of 100 million won or more and proportion of foreign investment of 10% or more)
    • Manufacturing business having main purpose of exportation: Export 50% or more of total sales amount
    • Logistic business, etc: Unloading, transportation, storage and exhibition businesses, etc.
    • Wholesale having purpose of import and export transactions: Import and export transaction should occupy 50% or more of the total sales volume
    • Tenant business support business: finance, insurance, custom clearance, tax affairs, information processing business, etc
    • Public institution and governmental agencies such as Korea Export Insurance Corporation

Yulchon Free Trade Zone

  • Port Hinterland Complex
    Port Hinterland Complex
    Port Type Condition Rent Applied Period
    Gwangyang Port Hinterland Complex Basic Rent In case of general tenant compant Monthly 200 won/㎡ 3 years
    Preferential Rent For the company dedicated in logistic business prescribed in Free Trade Zone Act among the foreign investment companies Monthly 30 won/㎡
    Official Land Price and Rent For the companies which are deemed to be not conformed with the purpose of free trade zone designation in the judgement of the Ministry of Maritime Affairs and Fisheries Official land price ×50/1,000(National Property Act)
  • Building (Combined Logistic Warehouse) Rent
    Building (Combined Logistic Warehouse) Rent
    Port Rent Applied Period
    Gwangyang Port Monthly 510 won/㎡ 3 years
    • Company Subject to Basic Rent
      • Those who fall under any of clauses prescribed in Paragraph 1. Article 10 of Act on Designation and Operation of Free Trade Zone and in Paragraph 2, Article 7 of Enforcement Ordinance of same act
    • Company Subject to Preferential Rent
      • Foreign investment companies who fall under any of clauses prescribed in Article 2 of Foreign Investment Promotion Act and Article 2 of Enforcement Ordinance of same act and Article 10 of Free Trade Zone Act
    • Company subject to Official Land Price and Rent
      • Companies who loose the tenant qualification and the domestic company building (combined logistic warehouse) other than the buildings subject to basic rent and preferential rent
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