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Global Inspiration GyeongGi-Do

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We are proud of all we have to offer our residents.Here, you can find information on working in Korea, medical care and living information

Meet the past and the future of Gyeonggi-do.You will discover the arts and culture unique to Gyeonggi-do.

Whether you run a small business ormajor corporation, Gyeonggi-do provides the businessenvironment and support your companyneeds to succeed and grow.​​

Obtain a wide range of useful information on Gyeonggi-do here.

Come visit the attractive cities of Gyeonggi-do and enjoy an extensive range of attractions.

FAQ


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  • No. 3 Investment Attraction When a foreign invested company wants to import machinery, what procedure has to be passed through to receive duty abatement/exemption?

    In order to be exempted from duties, the business sector has to be verified the subject to duty exemption by the Ministry of Finance and Economy, and then the company receives confirmation of the declaration of capital goods import from trust organization (foreign exchange bank or KOTRA) to submit when the company imports the machinery.

  • No. 2 Investment Attraction What is the rage of the capital goods for duty exemption or abatement?

    Capital goods introduced as a means of foreign or domestic payment and capital goods for investment in stock from foreign investors
    Industrial facilities (including ship, automobile and airplane) as machinery, tools and materials, equipments, parts and components
    Livestock, seeds, tree and fish and shellfish required for development of agriculture, forestry and fishery
    Other raw materials and reserve stocks recognized to be needed for initial test working by the director of state administration that takes charge of the business, and technique and goods and service for transportation, insurance and facilities

  • No. 1 Investment Attraction What documents are required to get duty exemption or abatement, if a foreign investor imports capital goods from invested capital and the business is subject to tax deduction?

    If the foreign investor wants to get duty exemption or abatement for the importation of capital goods, first he/she has to receive approval for tax deduction by the Ministry of Finance and Economy.
    The following documents need to be submitted at the relevant customs office before the import notification is completed. If the import process takes place in several steps, then it is necessary to apply for duty exemption each time.

    • Application form of exemption for customs, special expenditure tax, value-added tax
    • Document verifying that the business is subject to deduction of corporate tax
    (copy of approval for tax deduction by the Ministry of Finance and Economy)
    • Document verifying that the capital goods were imported through the cash of the foreign investor (copy of the certificate of FDI notification)
    • Confirmation of the declaration of capital goods import

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