Gyeonggi Province and Gyeonggi Pyeongtaek Port Corporation (President Jeong-Ho Seo) announced on the 2nd that a team of representatives of foreign-invested companies in Korea visited Pyeongtaek Port as part of the 2nd Korea Regional Investment Fair, which was held at COEX (Seoul) on June 1, 2009.

The tour program was participated in by more than 10 foreign-invested companies with interests in Gyeonggi Province, which has excellent infrastructure, a strategic geographical location and high-quality human resources. The companies, which are headquartered in the US, Canada, Australia and China, had a tour of the PR center of the Port, participated in a Q&A session on the incentives for foreign-invested companies including a graded lease system based on the investment amount, and visited the port facilities and the logistics complex (free trade zone) behind the Port.

An official from a foreign-invested company who attended the program said, “This is my first visit to the Port and I am impressed by its favorable natural environment, geographical location and advanced port facilities. It is exciting to see the thousands of vehicles that will be loaded for export.”

To attract foreign investment in the free trade zone, incentives such as the deduction or exemption of rents are being given to investors, according to the amount of investment. Companies investing USD 5 million or more will get a 50% discount on five-year rents, while companies investing USD 10 million or more will be exempted from their rent for five years. Companies investing USD 15 million or more will be exempted from their rent for seven years, companies investing USD 30 million or more will be exempted from their rent for 10 years, and companies investing USD 50 million or more will be exempted from their rent for 15 years.