Great place for workers, and a Great place for enterprise!
Jeollabuk-do has promoted over 100 companies every year since 2007, and as a result, 629 small and large companies have settled or promised investment for 5 years up to 2011. The fact that enterprises are rushing to Jeollabuk-do is because of its attractive investment environment, including its geographical advantage with easy access to China, its well-constructed transportation infrastructure and industrial complexes, its abundant high-level human resources, stable labor-management culture for enterprises and workers, and its well-developed supporting systems and incentive systems.
- Unlimited growing potential
- With Saemangeum development, Jeollabuk-do has been emerging as the economic center in Northeast Asia, and has formed a business-friendly environment, attracting domestic/foreign investment, as its province was appointed as the Saemangeum-Gunsan Free Economic Zone. In addition, it reinforces a the business-friendly environment by having several large scale industry complexes.
- Stabilized labor and management culture
- For the first time in Korea, Jeollabuk-do declared Labor-Management Harmony, which made industry peaceful’ in 2006. Also, the province works in order for a stabilized labor-management culture to develop strong roots in the province by pushing ahead with project of the ‘Labor-Management Harmony which makes industry peaceful’ and operating a system providing advice for Labor-Management Harmony.
- Generating a new growth engine, sustaining for 100 years
- Jeollabuk-do, in dealing with National Food Cluster business for the first time in the nation, has been promoting the new renewable energy industry, and establishing complexes, as well as supplying cutting-edge components and equipment. Also, these complexes have close ties with R&D institutes. By doing so, Jeollabuk-do has been emerging as a ‘primary shot’ which generates a growth engine, thus enabling Korea to sustain its growth for the next 100 years. When it comes to companies which invest in the province, its growth potential is not measurable as industries for the forthcoming generation, like the carbon industry, which has been developing in Jeollabuk-do.
- Well-suited transportation infrastructure
- Jeollabuk-do is 2-3 hours from Korea’s main cities (By bus or car, approximately 180 min is required for entry into Seoul). Also, with respect to foreign countries, it has a geographical advantage since it includes Gunsan, Saemangeum(these are the closest cities with China, among many of the west coast cities in Korea). Considering this, Jeollabuk-do has an important factor to become the business center of Northeast Asia in the 21st century.
- Cultivating competent and skilled manpower
- Jeollabuk-do has been supporting companies in its labor cost partially via its “Youth-employment 2000” project It also takes the lead in initiating the “SAN-HAK-KWAN Coupling project”, linking universities and technical colleges with companies in the province, in order to cultivate talented and high-skilled manpower and providing them to industries. Indeed, 250 research institutes and 36 universities (or technical colleges) of natural sciences or engineering, and specialized high schools have been cultivating their talented student as requested by companies.
Selection of successful enterprises Global enterprises in Jeollabuk-do
- World's top shipbuilding industry
Shipbuildingㆍwind power industries
- Korea's largest integrated machine manufacturer
heavy equipment industry for construction
- Leader of carbon industry
carbon fiber industry
- Korea's top elecfoil manufacturer
steelmaking industry high-tech component materials(Elecfoil)
- Leader of solar light industry
solar light industry (Polysilicon)
- Korea's largest top commercial vehicle manufacturer
- No.1 new generation mid-large sized vehicle manufacturer
new generation mid-large sized vehicle
- Global leader of advanced component industries
Industrial machines advanced component industries
- Leader of diesel engine
car and diesel engines
- Innovation by Chemistry
- asking more from chemistry
||Foreign investment company
||A company which invests more than 10 million dollars directly into the province
|Limits of subsidy
||Subsidy shall be made within the allocated budget of Jeollabuk-do
|Subsidy in detail
- Land subsidy: The difference between the rental cost (cost in presale contract) for foreign investors specified in the rental contract and that of the domestic investor can be supported. (The supported difference cannot exceed 50% of the rental cost for domestic investors)
- Investment subsidy: Up to 5% of the investment cost can be supported.
※ Investment subsidy and land subsidy can not be overlapped for support.
- Employment subsidy: Up to 500,000 won per 1 employee for 3 months can be supported when the foreign company newly hires more than 21 employees from Jeollabuk-do (up to 500 million won)
- Employee training subsidy: Up to 500,000 won per 1 employee for 6 months can be supported when the foreign company initiates training for more than 21 newly hired employees (up to 500 million won).
※ It should be preceded to endeavor to attract investments including concluding MOU between companies and local governments.
Inquiry on investment
- Investment Promotion Department : ☎ +82-63-280-3887