Korea, Republic of

Korea, Republic of

Offers up to 50% cash reimbursement to FDI in strategic industries

18 Jul 2022

On 18 July 2022, the Ministry of Trade, Industry and Energy amended the Foreign Investment Committee (FIC) - approved cash grant program, so as to offer up to 50% cash reimbursement for foreign investment in activities deemed strategically important for the country, such as chips and batteries and vaccines. The Government also increased the State commitment in the foreign investment support fund on such technologies to 50% in the capital and surrounding areas (up from 30%) and to 80% in non-capital areas (up from 60%). Finally, it announced that it will establish clear criteria to select beneficiaries, including quantitative evaluation.