tradezone terminal

  • Incentive system
  • Free Trade Zone
Free Trade Zone HOME > Trade Zone > Free Trade Zone
 
Eligible companies

Companies mainly engaged in export or foreign-invested manufacturing companies

Companies engaged in the logistics business including stevedoring, transportation, storage, exhibition, packaging, repair, processing, or assembly of goods, or repair, maintenance, or assembly of ships.
 
Tax reductions and exemptions for resident companies

The container terminal and hinterland complexes are designed as free trade zone benefiting from tax reductions and exemptions.
 
Reduction and exemption of indirect taxes

Reservation or refunding of import taxes

Zero value-added tax rate for transactions between companies

Exemption of the special consumption tax, transportation tax, farming and fishing community special tax, education tax, temporary import surtax, and liquor tax
 
Reduction and exemption of direct taxes
Tax type Reduction and exemption period
Reduction and exemption percentage		 Applicable law
National tax Corporate tax,
income tax		 100% for three years and 50%
for additional two years		 Article 121-2, Paragraph 2 of the
Tax Exemption Limitation Act
Local tax Acquisition tax,
registration tax		 100% for 15 years Ordinance of Jeollanam-do Province
Property tax 100% for ten years and 50%
for additional five years		 Ordinance of Gwangyang City
 
Incentives for companies investing in hinterlands

Low rents and stable lease periods are offered to resident companies in the hinterlands.

Preferential rent (US $ 0.03 per §³ and month)
Foreign-invested companies (10% or higher share held by foreign investor) engaged in the logistics business including stevedoring, transportation, storage, exhibition, packaging, repair, processing, or assembly of goods, or repair, maintenance, or assembly of ships.

Basic rent (US $ 0.21 per §³ and month)
Companies mainly engaged in export or foreign-invested manufacturing companies

Lease period : Up to 50 years