Busan Financial Hub
Research Reports
[48400] 52F Busan Finance Center, BIFC 40, Munhyeongeumyung-ro, Nam-gu, Busan, Korea. TEL.+82 51-631-0296 / FAX.+82 51-633-0398
[48400] 52F Busan Finance Center, BIFC 40, Munhyeongeumyung-ro, Nam-gu, Busan, Korea. TEL.+82 51-631-0296 / FAX.+82 51-633-0398
| Types | Targets | Description | |||
|---|---|---|---|---|---|
| Establishment of HQ Regional HQ | Establishment of Branch |
Relocation of HQ Regional HQ within Korea |
Relocation of Branch within Korea |
||
| (Overseas ▷ Busan) | (Other Regions in Korea ▷ Busan) | ||||
| Corporate Tax1) Income Tax1) |
Financial institution with an investment of over 2 billion KRW and more than 10 regular workers | 100% tax exemption for 3 years from the first tax year when the first income is made, 50% for the next 2 years | Not applicable | ||
| Property Tax1) 2) | 100% tax exemption for 3 years from the first date when tax liability is formed | Not applicable | |||
| Acquisition Tax1) 3) | 100% tax exemption for acquired property within 15 years from establishment date of business | Not applicable | |||
| Entrance Subsidy4) | Financial institution which estab - lishes Regional Headquarters managing more than 3 countries, or Headquarters | Up to 50% of the expenses to purchase land or buildings or rent(Up to 5 billion Won per institution) | Not applicable | Up to 50% of the expenses to purchase land or buildings or rent(Up to 5 billion Won per institution) | Not applicable |
| Employment Subsidy4) |
Financial institution with more than 10 regular workers for the last 3 months | Up to 600,000 Won per new employee after movement to BIFC (for up to 6 months, up to 200 million Won per institution) | |||
| Education/Training Subsidy4) |
Financial institution with training for more than 1 month to recruit more than 10 Korean employees | Up to 600,000 Won for education/training per new employee after movement to BIFC (for up to 6 months, up to 200 million Won per institution) | |||
| Business Facility Installation Subsidy4) |
Financial institution with more than 10 regular Korean employees | Up to 10% of the expenses required for installation of business facilities (up to 1 billion Won per institution) | |||
Applicable Act
| Types | Targets | Description | |||
|---|---|---|---|---|---|
| Establishment of the HQ | Establishment of Local HQ or Branch | Relocation of HQ | Relocation of Local HQ or Branch | ||
| (Other Regions in Korea ▷ Busan) | |||||
| Corporate Tax1) Income Tax1) |
Financial institution with an investment of over 2 billion KRW and more than 10 regular workers | 100% tax exemption for 3 years from the first tax year when the first income is made, 50% for the next 2 years | Not applicable | ||
| Property Tax1) 2) | 100% tax exemption for 3 years from the first date when tax liability is formed | Not applicable | |||
| Acquisition Tax1) 3) | 100% tax exemption for acquired property within 15 years from establishment date of business | Not applicable | |||
| Entrance Subsidy4) |
Head quaters that have more than 10 regular workers | Up to 50% of the expenses to purchase land or buildings or rent(Up to 5 billion Won per institution) | Not applicable | Up to 50% of the expenses to purchase land or buildings or rent(Up to 5 billion Won per institution) | Not applicable |
| Employment Subsidy4) |
Financial institution with more than 10 regular workers for the last 3 months | Up to 600,000 Won per new employee after movement to BIFC (for up to 6 months, up to 200 million Won per institution) | |||
| Education/Training Subsidy4) |
Financial institution with training for more than 1 month to recruit more than 10 Korean employees | Up to 600,000 Won for education/training per new employee after movement to BIFC (for up to 6 months, up to 200 million Won per institution) | |||
| Business Facility Installation Subsidy4) |
Financial institution with more than 10 regular Korean employees | Up to 10% of the expenses required for installation of business facilities (up to 1 billion Won per institution) | |||
Applicable Act