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Business

Airport city Development

About Airport City

Free Economic Zone foreigner investment tax incentives
Free Economic Zone foreigner investment tax incentives안내 표
Subject Tax type Reduction period and rate Dictating mandate
Development Project Implementer / resident foreigner investment business
(Tax Reduction and Exemption Control Act Article 121-2) National tax Customs, sales tax, VAT 100% if meets condition (※Condition: brought in within 5 years of reporting) Tax Reduction and Exemption Control Act Article 121-3, Enforcement Ordinance Article 116-5
Corporate tax, Income tax 100% for 3 years 50% for 2 years after that Tax Reduction and Exemption Control Act Article 121-2, Enforcement Ordinance Article 116-2⑤,⑥
Local tax Acquisition tax (city tax) 100% for 15 years Incheon Tax and Reduction Ordinance Article 94
Asset tax (borough tax) 100% for 10 years 50% for 3 years after that Incheon Jung-gu Borough Tax Reduction Ordinance Article 4

Tax reduction standard: total tax X foreigner investment ratio X tax rate

Incentives eligible subject
Incentives eligible subject안내 표
Subject Development Project Implementer Resident Foreigner Investment Business
Incentive eligibility Total business value is over 30 million USD or over 500 million USD if foreigner investment ratio is over 50%
  • Manufacturing: over 10 million USD
  • Tourism: over 10 million USD
  • Distribution: over 5 million USD
  • R&D: over 1 million USD
  • Medical entity: over 5 million USD
Direct any questions regarding information on the website to:
  • Managing department: Airport City Development Team
  • Telephone: +082-32-741-2272, 2273