The promotion of additional investment and rejuvenation of the local economy by helping
new employees adapt to work, and by offering incentives to foreign companies by
providing subsidies to those companies operating advanced technology, that have
established and/or expanded plants or research facilities within GyeonggiProvince, and
are providing training programs by employing Korean nationals.
- Eligibility: Companies that provide education and training programs to a minimum of 11 Korean nationals that they have newly employed (same as the conditions for the employment subsidies)
- Supported Amount: KRW500,000 or less per employee (proportionally divided within the scope of the total budget). The cumulative total amount per company shall be KRW1 billion or less (the total of the previous year's provision)
- Applicable Law: Clause 14, Paragraph 1, Foreign Investment Promotion Act, Clause 20, Gyeonggi Provincial Ordinance on Attracting and Supporting Foreign Investment
- Priority for the provision of employment subsidies is given to foreign companies with potential for re-investment.
- The size of the subsidy is determined by the contribution to the local economy, the degree of technological transference, and the level of employment creation.
- The rejuvenation of new and additional investment by offering incentives to foreign companies
- The creation of new employment opportunities and rejuvenation of the local economy by promoting investment by foreign companies
