Subsidies for Employment

Companies whose level of foreign investment exceeds 30%
Tenants of the Industrial Complex Exclusively for Foreign Companies in GyeonggiProvince, or companies that have concluded an investment agreement with GyeonggiProvince
Companies that began business operations in GyeonggiProvince no more than five years ago
Companies that have begun business operations in GyeonggiProvince, and whose number of newly hired full time employees is at least 11
- Full Time Employee: Workers listed on the Income Tax Withholding Status Report submitted to the tax office in the appropriate jurisdiction in compliance with Clause 185, Paragraph 1 of the Enforcement Ordinance of the Income Tax Law

Employees newly hired during the corresponding period whose status is 'employed' as of the date of application for the subsidy (excluding re-employed employees)
Employees whose location of work is inside GyeonggiProvince and who belong to the category of full-time employed in terms of Income Tax Law

KRW500,000 or less per employee (proportionally divided within the scope of the total budget).
The cumulative total per company shall be no more than KRW1 billion (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