Article 1 (Purpose) The purpose of this Ordinance is to facilitate the inducement of foreign investment, and thus contribute to the economic vitalization of Seoul Metropolitan City, by providing for matters delegated by the Foreign Investment Promotion Act and the Enforcement Decree thereof, as well as matters concerning foreign investment and support for inducement activities related thereto. <Amended by Ordinance No. 4586, Dec. 26, 2007>

Article 2 (Definitions) The terms used in this Ordinance shall be defined as follows: <Amended by Ordinance No. 6093, Jan. 7, 2016; Ordinance No. 6386, Jan. 5, 2017>
1. The term "foreign investment" has the same meaning as defined in Article 2 (1) 4 of the Foreign Investment Promotion Act (hereinafter referred to as the "Act");
2. The term "foreign-invested enterprise" means any enterprise invested by foreign investors as defined in Article 2 (1) 5 and 6 of the Act and engaging in business in the jurisdiction of the Seoul Metropolitan Government (hereinafter referred to as "Seoul Government");
3. The term "foreign investment area" means an area designated by the Mayor of the Seoul Metropolitan Government (hereinafter referred to as the "Mayor") pursuant to Article 18 (1) of the Act;
4. The term "facility for improving a foreign investment environment" means a facility that falls under Article 2 (8) of the Enforcement Decree of the Foreign Investment Promotion Act (hereinafter referred to as the "Decree").
[This Article Wholly Amended by Ordinance No. 4591, Dec. 26, 2007]

Article 3 (Advisory Council for Foreign Investment) (1) The Mayor shall establish an advisory council for foreign investment (hereinafter referred to as the "Advisory Council") to seek advice on the establishment of foreign investment policies and the improvement of investment systems.
(2) The Advisory Council shall be comprised of no more than 30 members, including a Chairperson and a Vice Chairperson.
(3) Members of the Advisory Council shall be commissioned by the Mayor from among those persons who have abundant experience and knowledge relating to foreign investment, and their term of office shall be three years.
(4) The Chairperson and the Vice Chairperson shall be appointed by the Mayor from among members, and their term of office shall be two years.
(5) Meetings of the Advisory Council shall, in principle, be held quarterly, but may be held at any time if deemed necessary by the Mayor.
(6) Allowances and actual travel expenses incurred may be reimbursed to the members of the Advisory Council who attend a meeting thereof, within budgetary limits, and if they participate in any event related to the inducement of investment or in public relations at the request of the Mayor, the expenses incurred in relation thereto may be reimbursed to them.
(7) Except as provided in this Ordinance, matters necessary for the operation of the Advisory Council shall be separately determined by the Mayor.

Article 4 Deleted. <by Ordinance No. 4586, Dec. 26, 2007>

Article 5 (Support for Foreign Investment in Infrastructure) When the Mayor induces foreign investments for the construction of infrastructure in Seoul Government pursuant to the Act on Public-Private Partnerships in Infrastructure, he or she may render administrative and financial assistance to guarantee foreign investors' return on investments. <Amended by Ordinance No. 4591, Dec. 26, 2007; Ordinance No. 6386, Jan. 5, 2017>

Article 6 (Entrustment of Foreign Investment Inducement Affairs) (1) When the Mayor induces foreign investments in an area that requires expertise, such as large investment projects and infrastructure, he or she may entrust part of administrative affairs necessary for carrying out such inducement to an appropriate expert, organization, corporation, etc. (hereinafter referred to as "specialized investment inducement institution"). <Amended by Ordinance No. 4591, Dec. 26, 2007>
(2) The Mayor may establish an organization for promoting foreign investment within a specialized investment inducement institution, so that such organization can be entrusted with part of the administrative affairs necessary for attracting foreign investment such as providing support in terms of global marketing and investment report filed by foreign investors, in an effort to strengthen the foundation for attracting investment. <Amended by Ordinance No. 7622, Jul. 16, 2020>
(3) Where the Mayor entrusts a specialized investment inducement institution with part of the administrative affairs related to investment inducement under paragraphs (1) and (2), the Mayor may grant such institution a subsidy to cover all or some of the expenses incurred in performing the entrusted affairs. <Newly Inserted by Ordinance No. 7622, Jul. 16, 2020>

Article 6-2 (Investment Inducement Taskforce) (1) The Mayor may operate an investment inducement taskforce for identifying potential foreign investors, in a bid to facilitate attraction of investment.
(2) Matters necessary for the operation of an investment inducement taskforce shall be separately determined by the Mayor.
[This Article Newly Inserted by Ordinance No. 7622, Jul. 16, 2020]

Article 7 (Support for Foreign Investment Inducement Activities of Small and Medium Enterprises) If any small and medium enterprise that is located in Seoul conducts foreign investment inducement activities, the Mayor may pay some expenses incurred in relation thereto to such small and medium enterprise within budgetary limits.

Article 8 (Monetary Rewards) Pursuant to Article 14-3 of the Act, the Mayor may pay a monetary reward to any person, organization, corporation, or public official of the Seoul Government or an autonomous Gu thereof that is deemed to have greatly contributed to the inducement of foreign investments based on the actual outcomes of such inducement within budgetary limits. <Amended by Ordinance No. 6386, Jan. 5, 2017>

Article 9 (Support for Development of Foreign Investment Areas) (1) In order to develop foreign investment areas designated under Article 18 (1) of the Act, the Mayor may pay some expenses incurred in such development to the developer of a project to construct infrastructure, such as roads, electric power, water supply facilities, sewerage and communications, within limitary limits. <Amended by Ordinance No. 6386, Jan. 5, 2017>
(2) Deleted. <by Ordinance No. 4591, Dec. 26, 2007>

Article 9-2 (Support for Tenant Companies in Foreign Investment Zones) The Mayor may grant a subsidy to tenant companies in foreign investment zones designated under Article 18 (1) 3 and 4 of the Act to cover their rents, in a bid to revitalize foreign investment zones.
[This Article Newly Inserted by Ordinance No. 7622, Jul. 16, 2020]

Article 10 (Support for Creation of Conditions for Foreign Investment Circumstances) In order to create foreigner-friendly investment conditions, the Mayor may grant a subsidy, within budgetary limits, to a person who carries out any of the following projects to cover some project costs or operating expenses : <Amended by Ordinance No. 4591, Dec. 26, 2007; Ordinance No. 5211, Jan. 5, 2012>
1. A foreigner-only village (referring to a certain area in which foreigners reside collectively);
2. Constructing infrastructure necessary for improving a living environment of foreigners, such as roads, electric power, water supply facilities, sewerage and communications;
3. Establishing and operating facilities for improving a foreign investment environment.

Article 11 (Special Cases concerning Handling of Civil Petitions) The Mayor shall give priority to dealing with civil petitions subject to en bloc handling, such as authorization or permits under Article 17 (3) of the Act. <Amended by Ordinance No. 6386, Jan. 5, 2017>

Article 12 (Reduction of, or Exemption from Proceeds from Sale of and Rent on Public Property) (1) If any property of the Seoul Metropolitan Government is sold to a foreign-invested enterprise, the Mayor may sell it at the price of its development cost or exempt the enterprise from all or some of the value of such property, as prescribed by the Seoul Metropolitan Government Ordinance on the Management of Public Property and Commodity. <Amended by Ordinance No. 4591, Dec. 26, 2007>
(2) When the Mayor leases any property of the Seoul Metropolitan Government to a foreign-invested enterprise or a person who carries out a project under Article 9 or 10 (hereinafter referred to as "foreign-invested enterprise, etc."), he or she may fully or partially exempt the foreign-invested enterprise, etc. from the rent therefor, as prescribed by the Seoul Metropolitan Government Ordinance on the Management of Public Property and Commodity. <Amended by Ordinance No. 4591, Dec. 26, 2007; Ordinance No. 6386, Jan. 5, 2017>

Article 13 (Financial Support out of Small and Medium Business Support Fund) Pursuant to Article 3 (2) of the Act, the Mayor may provide financial support out of the Small and Medium Business Support Fund to foreign-invested enterprises, as prescribed by the Seoul Metropolitan Government Ordinance on the Establishment and Operation of Small and Medium Business Support Fund. <Amended by Ordinance No. 4591, Dec. 26, 2007; Ordinance No. 5729, Jul. 17, 2014; Ordinance No. 6386, Jan. 5, 2017>

Article 14 (Cash Grant) The Mayor may provide a cash grant to a foreign-invested enterprise in a certain amount of money invested by the foreign-invested enterprise within budgetary limits, taking into account whether the foreign-invested enterprise provides high technology, the effect of technology transfer, the scale of employment creation, and appropriateness of the place in which that enterprise is located. <Amended by Ordinance No. 7423, Dec. 31, 2019>

Article 15 (Employment Subsidies) If a foreign-invested enterprise newly employs nationals of the Republic of Korea, the Mayor may grant employment subsidies to the foreign-invested enterprise within budgetary limits, taking into account the scale of such employment, the effect on the development of the regional economy, etc. under Article 14 (4) of the Act and Article 20 (4) of the Decree. <Amended by Ordinance No. 6386, Jan. 5, 2017>

Article 16 (Education or Training Subsidies) If a foreign-invested enterprise provides education or training to nationals of the Republic of Korea to newly employ them, the Mayor may grant education or training subsidies to the foreign-invested enterprise within budgetary limits, taking into account the scale of such employment, the effect on the development of the regional economy, etc.

Article 17 (Ceiling of Subsidies) The total amount of subsidies to be granted by the Mayor to a foreign-invested enterprise, etc. in accordance with this Ordinance shall not exceed 50/100 of the amount of investment by the foreign-invested enterprise, etc. <Amended by Ordinance No. 7423, Dec. 31, 2019>

Article 18 (Post-Management) (1) A foreign-invested enterprise, etc. provided with funds in accordance with this Ordinance shall use such funds only for the business that is specified in the relevant business plan submitted at the time an application for such funds are filed.
(2) If it is necessary to verify the management and use of funds provided under this Ordinance, the Mayor may require a foreign-invested enterprise, etc. to submit related materials or have public officials under his or her jurisdiction visit the foreign-invested enterprise, etc. to conduct an investigation. <Amended by Ordinance No. 7423, Dec. 31, 2019>

Article 19 (Other Support) With respect to foreign-invested enterprises recognized to have a great impact on the regional economy, the Mayor may relax restrictions on activities or construction of buildings, or relax a building-to-land ratio or floor area ratio in a specific-use area or specific-use district, taking into account the scale of investment, employment effects, etc. In such cases, provisions applicable to such relaxation shall be prescribed by the Seoul Metropolitan Government Ordinance on Urban Planning. <Amended by Ordinance No. 4591, Dec. 26, 2007>

Article 20 (Enforcement Rule) Matters necessary for the enforcement of this Ordinance shall be prescribed by rules of the Seoul Government.

ADDENDA
(1) (Enforcement Date) This Ordinance shall enter into force on the date of its promulgation.
(2) Omitted.
ADDENDA <Ordinance No. 4586, Dec. 26, 2007>
(1) (Enforcement Date) This Ordinance shall enter into force on the date of its promulgation.
(2) Omitted.
ADDENDA <Ordinance No. 4591, Dec. 26, 2007>
(1) (Enforcement Date) This Ordinance shall enter into force on the date of its promulgation.
(2) Omitted.
ADDENDA <Ordinance No. 5211, Jan. 5, 2012>
Article 1 (Enforcement Date)
This Ordinance shall enter into force on the date of its promulgation.
Article 2 Omitted.
ADDENDA <Ordinance No. 5729, Jul. 17, 2014>
Article 1 (Enforcement Date)
This Ordinance shall enter into force on the date of its promulgation.
Article 2 Omitted.
ADDENDUM <Ordinance No. 6093, Jan. 7, 2016>
This Ordinance shall enter into force on the date of its promulgation.
ADDENDUM <Ordinance No. 6386, Jan. 5, 2017>
This Ordinance shall enter into force on the date of its promulgation.
ADDENDA <Ordinance No. 7046, Mar. 28, 2019>
Article 1 (Enforcement Date)
This Ordinance shall enter into force on the date of its promulgation.
Article 2 Omitted.
ADDENDUM <Ordinance No. 7423, Dec. 31, 2019>
This Ordinance shall enter into force on the date of its promulgation.
ADDENDUM <Ordinance No. 7622, Jul. 16, 2020>
This Ordinance shall enter into force on the date of its promulgation.